https://www.thestar.com.my/business/business-news/2021/03/11/top-gloves-earnings-may-peak-soon
Top Glove’s earnings may peak soon
PETALING JAYA: Although most brokerages are bullish on Top Glove Corp Bhd, Maybank Investment Bank (MaybankIB) appears less enthusiastic, downgrading its call on the company’s shares to “hold” from “buy” previously.

The brokerage has also lowered its target price for the world’s largest glovemaker to RM4.85 from RM8.65 previously.

The lower discounted-cash-flow (DCF) based target price followed MaybankIB’s rolling forward its valuation for Top Glove to the financial year (FY) ending Aug 31,2024, from FY21 previously, and lowering its long-term-growth estimate to 3.5% from 4.5% previously, in view of the aggressive expansion by the China’s glovemakers.

According to MaybankIB, Top Glove may reduce its nitrile glove average selling prices (ASPs) by 3%-5% month-on-month in April-June 2021, bringing its nitrile glove ASP to around US$100 (RM412) per 1,000 pieces by June 2021 and converge with the ASPs of the price laggards.

“Earnings may peak in the third quarter (Q3) of FY21 and fall from Q4’FY21 as ASPs decline. We maintain our FY21-FY23 estimated net profit, which has already assumed for lower ASPs ahead, ” MaybankIB said in its report yesterday.

With talks of possible OPR cut, Public Bank, Maybank among top laggards on Bursa

https://www.theedgemarkets.com/article/talks-possible-opr-cut-public-bank-maybank-among-top-laggards

ESG concerns take some shine off Top Glove

TheEdge Tue, Dec 22, 2020 03:00pm - 41 minutes ago


ANALYSTS remain positive on Top Glove Corp Bhd despite the environmental, social and governance (ESG) concerns that have emerged over the glove maker’s staff living quarters.

While they imputed a discount on their target prices for Top Glove because of this, most of the analysts have maintained their bullish calls on the company following the release of its results for the first quarter ended Nov 30 (1QFY2021) — it posted a record net profit of RM2.38 billion on its highest ever quarterly revenue of RM4.76 billion.

RHB Investment Bank, for example, has maintained its “buy” call on Top Glove but ascribed a 10% ESG discount to its target price and cut its ESG score for the group to 2.78 (from 3.22) on lower points for the Social or “S” component.

CGS-CIMB, while maintaining its “add” call, has cut its target price on the rubber glove giant by 11% to RM8.90 per share from RM10 previously. The cut was premised on a lower price-to-earnings ratio of 16 times for calendar year 2022 from 17 times previously to account for ongoing concerns over the ESG issues, particularly in relation to its foreign workers.

Maybank Investment Bank’s target price of RM8.65 for Top Glove assumes a higher weighted average cost of capital as it takes into consideration the social compliance issues.

Meanwhile, the Employees Provident Fund (EPF), which emerged as Top Glove’s substantial shareholder on Sept 21 with a 5.05% stake, has been trimming its shareholding in the glove maker. According to Top Glove’s filing with Bursa Malaysia on Dec 10, EPF sold 1.5 million shares on Dec 7, leaving the pension fund with a 5.56% direct stake comprising 445.65 million shares in Top Glove. Since Dec 1, EPF has divested a total of 22.14 million shares in the company.

Industry observers believe ESG concerns may be the main reason for EPF’s divestment of Top Glove shares.

“EPF has stated its priority on sustainability many times. The ESG issues surrounding Top Glove are of grave concern right now and EPF is strict with its investments,” a market watcher tells The Edge.

https://www.theedgemarkets.com/article/global-covid19-cases-surpass-74-million-says-johns-hopkins-university

Pandemic--->>Global Covid-19 cases surpass 74 million, says Johns Hopkins University

Top Glove donates 70,000 gloves to Covid-19 frontliners
The TOP Glove management CSR contribution during the COVID-19 pandemic. JUST FOR READING..
http://mjn-e-news.com.my/mar2020/featured/top-glove-donates-70-000-gloves-to-covid-19-frontliners.html

Covid-19 pandemic: Tracking the global coronavirus outbreak..https://www.bbc.com/news/world-51235105
Invest wisely using the data guys..

AT hiring for FINANCE MANAGER AND ASSISTANT
AT Glove Engineering Sdn Bhd
https://www.jobstreet.com.my/en/job-search/manager-jobs/9/?specialization=501

PB is very good for dividend and best MKTCap. Just that now the moratorium that holding their financial strenght. DJI drop last night..KLCI also follow to maintain the V shape trend. Don't panic. Stay cool..You can sleep well if you are holding this stock.

Hold on investors.. don't sell...this is due to DJI drop last night..KLCI also follow to maintain the V shape trend. Time to collect..

Hold on investors.. don't sell...this is due to DJI drop last night..KLCI also follow to maintain the V shape trend. Time to collect..

Hold on investors.. don't sell...this is due to DJI drop last night..KLCI also follow to maintain the V shape trend. Time to collect..

Hold on investors.. don't sell...this is due to DJI drop last night..KLCI also follow to maintain the V shape trend.

Latest...https://www.nst.com.my/business/2020/07/610151/xox-chief-confirms-big-chinese-telcos-interest-rm10bil-5g-venture