If China can sell at lower ASP to capture market share from emerging market then who is paying more to buy at higher ASP from Malaysia?

Is Malaysia gain or lose market share to China?

And why Harta deserved a TP of RM 4.10 28x FY27F P/E, slightly above its pre-COVID-19 5-year historical mean of 26x if it cannot grow its market share?

Still BUY. Post-earnings adjustment, we raise our TP to MYR4.10. Our DCF- derived TP implies 28x FY27F P/E, slightly above its pre-COVID-19 5-year historical mean of 26x. We like Hartalega due to its robust balance sheet, efficient operating model, and a key beneficiary of the recovery in medical glove sector. Key risks: Lower-than-expected sales volume, weaker-than- expected USD/MYR rate, and higher-than-expected raw material price.
Source: RHB Research - 23 May 2024

Cost:
Raw material cost
Utility cost
Manpower cost
Logistics, shipment and marketing cost
Depreciation cost
Tax/duty cost

So compare the above cost what Malaysia glove manufacturers have advantage over China?

By the way US market is how many % of world market?
Even if China lost the US market, will China dominant market outside US?

Tariffs on rubber medical and surgical gloves will jump to 25% from 7.5% in 2026.

Market over react to US tariff increase for glove from 7.5% to 25 % starting 2026.

So what will be the profit look like for Harta?
Is the price surge sustainable with the profit growth?

Anyone can explain why Harta with PE of 970.27 make it into top 4?

If harta next two quarter earning is a disappointment then what will be the price?
Will it still command a PE of 970.27?

More or less I also give up on Bursa and SC to do the right thing in protecting shareholders interest and prosecute the crooks to the fullest

So invest at your own risk.

DickyMe SSLee's favourite counter, licking the bottom.
20/06/2024 11:42 PM

I already give up on HRC with below last email to HRC

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-21-story-h-158835501-My_last_email_to_HRC.jsp

https://klse.i3investor.com/blogs/ficus/2024-06-20-story-h-158865262-Public_Bank_Needs_to_Grow_Its_Revenue_and_Profits_Faster_than_Assets.jsp

You can either growing the profit or reducing the equity to increase your ROE.
Unfortunately Insas increasing the profit by selling Inari share but relutant to return the ever increasing retained profit to shareholders causing total equity to increase from RM 1,352,726,000 FY2016 to RM 2,340,464,000 FY2023.

Insas indeed a very "gruesome" company.
But know what 12 months Insas ROI beat PBB ROI contest.

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

CapitalA lessors can just pull out their planes if capA late in paying lease liabilities. So why would lessors accept any haircut?

So do you think AAX can bailout capitalA?

By the way Insas is the most undervalued and depply depressed stock in Bursa.
You need to learn how to buy low and sell high from TheContrarian who had so far earned 4X gain

Once upon a time everyone is a water fish but people change with time and experience.
So welcome to i3investor and remember you do not need to lower your IQ to engage with low IQ people.
Just be yourself.

The debts restructure drag on for soo long is because the creditors expect the rich daddy/tax payers' money to bail out this company and hence reluctant to accept the haircut.

MGO: A mandatory general offer involves the person that has triggered the offer obligation making an offer to all of the shareholders of the target to acquire their shares.

You can google SC rule on MGO

For 3QFY2024, the Group registered Sales Revenue of RM637 million, an increase of 16% quarter on quarter. Its operational losses reduced to RM34 million in 3QFY2024 from a loss of RM59 million in 2QFY2024, representing a 42% improvement. Meanwhile, Sales Volume which had been growing since 4QFY2023 also continued its upward trend, rising 13% versus 2QFY2024, reflecting the Group’s steady recovery. The Group also achieved a Profit After Tax of RM62 million, up 255% compared with the preceding quarter. The Group’s enhanced performance was driven by
increasing glove demand and ongoing initiatives focused on quality and cost optimisation measures, as well as gains from the disposal of excess land.

Raw material prices for 3QFY2024 were on an uptrend quarter on quarter, with the average natural latex concentrate price up by 20% to RM6.77/kg, while the average nitrile latex price rose 16% to USD0.89/kg.

Repost:
Posted by Sslee > Jun 13, 2024 5:51 PM | Report Abuse X
The webpage at https://vimeo.com/event/4376865/embed/interaction might be temporarily down or it may have moved permanently to a new web address.

I try to do some resetting and the final message:
Internetbaik.telkomsel.com refused to connect

I managed to submit one more question on CAPI and submitted the voting but cannot follow the live streaming


Posted by Sslee > Jun 13, 2024 6:00 PM | Report Abuse X
Will wait for the AGM minutes for follow up clarification questions

AAX after the acquisition of AAAGL and AAB the total borrowing and lease liabilities is RM 23,271,794,000 gearing 23.96 times.

Hence the question: What is the likelihood that AAX/New Aviation Group default on payment on current liabilities: Lease liabilities, borrowing, aircraft maintenance, trade and other payables, etc?

Again the same question if Capital A Berhad's post-pandemic turnaround is a remarkable success story then why Stony intend to dispose capA' aviation to AAX?

I speak the truth and if the truth hurt, whose fault?

Question 34: If capital A needs to be delisted from Bursa to get more time and space to do a proper capital-raising and restructuring plan and relist in the future, will BOD do so rather than a rush job that might land everyone in a bad place?

Do I sound like somone wants to see someone in jail?

Wrongful Trading
In the CA 2016, an offence of wrongful trading is captured in section 539(3) that:
“…an officer of the company who knowingly was a party to the contracting of a debt had, at the time the debt was contracted, no reasonable or probable ground of expectation, after taking into consideration the other liabilities, if any, of the company at the time, of the company being able to pay the debt, commits an offence…”

Fraudulent Trading
Whereas section 540(1) of the CA 2016 stipulates an offence of fraudulent trading as below:
“If it appears…that any business of the company has been carried on with intent to defraud the creditors of the company or creditors of any other person or for any fraudulent purpose, the Court may declare that any person who was knowingly a party to the carrying on of the business in that manner shall be personally responsible…”

If an offence under section 539(3) has been made out, offenders may be punishable with a maximum imprisonment of 5 years or a maximum fine of RM500,000, or both. Reading together with section 540 of the CA 2016, it is added that the offender may even bear personal liabilities for the payment of the whole or any part of the company’s debt without any limitation of liability upon a court’s declaration

Already ask that question to company secretary as one of my question.

Referring recent announcement of divestment of The Group aviation to AAX
https://theedgemalaysia.com/node/709489
The divestment of AirAsia Aviation Group Ltd (AAAGL) is expected to give rise to a pro forma gain of RM4.69 billion to Capital A, while the disposal of AirAsia Bhd (AAB) would result in a gain of RM6.07 billion

I’m afraid the deal is a zero sum game. What The Group gains is AAX losses: AAX after the acquisition of AAAGL and AAB the total borrowing and lease liabilities is RM 23,271,794,000 gearing 23.96 times.

Question 32: External Auditor what is the likelihood that AAX/New Aviation Group default on payment on current liabilities: Lease liabilities, borrowing, aircraft maintenance, trade and other payables, etc?

Question 33: Company Secretary If a default happens; will the BOD of both CapitalA and AAX end up in jail for offences of Wrongful/Fraudulent trading under Company Act 2016 section 540 and Section 539?

Insas still hold 516,508,575 Inari (%)13.71

Stock [INARI]: INARI AMERTRON BERHAD
Announcement Date 18-Jun-2024
Reference No CS2-14062024-00124
Substantial Shareholder's Particular:
Name INSAS BERHAD
Details of Changes:
Currency -
Date of Change Type Number of Shares
14-Jun-2024 Disposed 5,000,000
Registered Name Insas Technology Berhad
Nature of Interest Indirect Interest
14-Jun-2024 Disposed 2,000,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
14-Jun-2024 Acquired 5,000,000
Registered Name M & A Nominee (Asing) Sdn Bhd for Media Lang Limited
Nature of Interest Indirect Interest
Nature of Interest Indirect Interest
Shares Ordinary shares
Reason (i) Disposal in the open market (ii) Acquisition and disposal via Direct Business Transaction
Total no of securities after change
Direct (units) 0
Direct (%) 0.00
Indirect (units) 516,508,575
Indirect (%) 13.71
Total (units) 516,508,575
Total (%) 13.71
Date of Notice 18-Jun-2024

I cannot teach anybody anything. I can only make them think by asking questions.

Repost:
Posted by Sslee > Jun 14, 2024 7:13 PM | Report Abuse X

And the quater before that Insas Tech disposed 5 million Inari share on 27 Dec 2023 to Media Lang and reported gain of disposal RM 9.445 million

If Insas do that I will quickly sell my remaining Insas

Just monitor the steel bar price to time when you should buy steel stock.

Will collect some Insas just before announcement of next quarter result.

Just a simple question if Capital A Berhad's post-pandemic turnaround is a remarkable success story then why Stony intend to dispose capA' aviation to AAX?

Are you saying the innovative dividend is a stillborn?

A Closer Look at the Numbers
The chart below shows the stock performance of several major airlines in the region over recent months. Here are the airlines included:

Why not show the chart from covid 2020 lowest to now?

Anyone know how much SIA had gain from its covid 2020 low?
Whereas CapA is still a PN17 company.

Page 27- 28: Statements of financial position as at 31 December 2023
31.12.2023: 31.12.2022: 1.1.2022
RM'000: RM'000: RM'000
Net current liabilities (12,669,239): (8,509,066): (6,754,176)
Capital and reserves
Share capital: 8,711,742: 8,654,977: 8,457,172
Merger deficit: (5,507,594): (5,507,594): (5,507,594)
Foreign exchange reserve: 217,047: 1,178,273: 601,494
Accumulated losses: (12,321,978): (10,254,769): (7,094,693)
Reserves: 138,642: 204,020: 161,321
Total shareholders' deficit: (8,762,141): (5,725,093): (3,382,300)
Non-controlling interests: (1,862,596): (3,791,865): (3,040,603)
Total deficit: (10,624,737): (9,516,958): (6,422,903)

Question 4: External Auditor based on above financial figures what is your opinion on the Group financial health from 1.1.2022 to 31.12.2022 to 31.12.2023 (improving and healthy or deteriorating into ICU level)?

KLSE: KERJAYA (7161) KERJAYA PROSPEK GROUP BERHAD MAIN : Construction
Last Price Today's Change Day's Range Trading Volume
1.87 -0.02 (1.06%) 1.87 - 1.92

KLSE: KPPROP (7077) KERJAYA PROSPEK PROPERTY BERHAD MAIN : Property
Last Price Today's Change Day's Range Trading Volume
0.975 +0.04 (4.28%) 0.92 - 0.975 3,646,300

Above are two different Bursa listed companies.

https://www.icapital.my/2023-10-02-icapital-biz-berhad-announces-innovative-dividend-policy-en-us/

Actually Thong and PAC can just surrender their PB with corrospond amout of WC to insas shares and trigger the conditional MGO.

Even if shareholders rejected the MGO offer Thong and PAC can still convert whatever WC they still hold and cross the 50% and rendered the MGO unconditional at the end of MGO closing date.

ICap's dividend policy will not only be subject to market and economic conditions, but also its value investing investment philosophy, it said. “It will be formulated as such – a base rate of 1% of the NAV per share, plus 8% of the difference between ICAP's share price and NAV.3 Oct 2023

Every shareholders of icapital must thank COL for NAV discount of ICAP widened from 17.51% to 27.36%.

So when will icapital declared the dividend of 1% of the NAV per share, plus 8% of the difference between ICAP's share price and NAV?

Insas BOD decided to take profit on Inari as most insas shareholders want Insas to take profit. So no complaint from me when Insas sold some Inari shares to report a good quarter result.

The problems is I cannot understand why Insas BOD hold such a large cash hoard of over RM 1 billion?

At least StartOfTheBull get it right on MSC.

Result for the 6 Months (15 Dec 2023 - 14 June 2024) ROI contest

Price (RM)
Dividend
Price (RM)
ROI

Stock
15/12/2023
(RM)
14/06/2024
%
OTB
YTLPOWER
2.460
0.030
5.280
115.85%
income
TOMEI
1.220
0.040
1.760
47.54%
StartOfTheBull
MSC
2.010
0.070
2.770
41.29%
Philip
HARTA
2.690
3.590
33.46%
speakup
CMSB
1.070
0.020
1.400
32.71%
Sslee
INSAS
0.890
0.025
1.120
28.65%
calvintaneng
JAYATIASA
0.915
0.025
1.120
25.14%
qqq47660
DNEX
0.395
0.485
22.78%
Study2
PETRONM
4.550
0.230
4.860
11.87%
Felix888
ARMADA
0.510
0.555
8.82%
Choivo
TIMECOM
5.280
0.152
5.090
-0.73%
Stony
CAPITALA
0.860
0.840
-2.33%
3iii
PBB
4.310
0.100
4.080
-3.02%
Study1
PCHEM
7.150
0.050
6.560
-7.55%

Posted by duatlai > Jun 15, 2024 4:57 PM | Report Abuse
Surprised to have educated people writing nonsense, !

Your advise noted with thanks.
I just try to lower down my IQ to talk to low IQ Mike-tikus.
From now on I will just let him talk to himself, kaki kong kaki song.

Aiyoyo Mike-tikus really do not know the reason why Total Share of Profit = RM 431.703 Million but Total Dividend only = RM 97.386 Million

Can it be:
A. JHDP wants to reserve cash for future expansion?
B. JHDP has cash flow problem?
C. China JV partner withold the dividend payment so that jaks do not has enough cash for the addition 10%?
D. JHDP involved with corruption investigation and cannot transfer money out of Vietnam?
E. JHDP BOD like to hold cash like Insas BOD?
F. All of above?
G. None of above?

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

https://klse.i3investor.com/blogs/Sslee_blog/2024-06-15-story-h-158959622-6_months_12_months_and_18_months_ROI_contest_part_III.jsp

Did Mike-tikus know the reason why Total Share of Profit = RM 431.703 Million but Total Dividend only = RM 97.386 Million?

Know how much insas report share of profit and dividend from associate company Inari?

Aiyoyo did Mike-tikus know dividend from JV is distributed from share of profit from JV?

Aiyoyo Mike-tikus insider disposed Priva kah?

Name
Details of Changes
Date
Type
No. of Shares
Price
PUAN HAIDA SHENNY BINTI HAZRI 12-Jun-2024 Disposed 460,000 0.119

Why Mike-tikus promote priva in jaks forum?
Is this mean he already sold jaks and now all in Priva?
Is he asking people to sell jaks and buy Priva?