Coronavirus Cases:
20,072,673

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Northcape, an Australia-headquartered asset manager that has been investing in the shares of glove makers for more than a decade, bought more glove-makers’ shares early this year “when signs emerged that Covid-19 would become a global pandemic,” Cameron said.

According to his calculations, Top Glove will generate average earnings growth of more than 100% for each of the next two years.

The discovery of a vaccine to prevent Covid-19 disease will also help keep demand elevated because “glove companies and some experts have noted that the widespread administering of a vaccine will actually result in a further spike in glove demand,” he added.

Russia’s race for Covid-19 vaccine raises concerns in the West

https://indianexpress.com/article/world/russias-race-for-virus-vaccine-raises-concerns-in-the-west-6543986/

Coronavirus Cases:
19,022,881

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WHO:
“There are concerns that we may not have a vaccine that may work, or its protection could be for just a few months, not more. But until we finish the clinical trials, we will not know.” — Reuters

Coronavirus update: Birx says U.S. has entered a ‘new phase’ of pandemic as cases, deaths rise.

The White House coronavirus response coordinator told CNN: “I want to be very clear what we’re seeing today is different from March and April,” noting that infections were increasing in rural and urban areas. “It is extraordinarily widespread."

Coronavirus Cases:
18,091,775

X/(1+ N)

E/(1 + N)

Adjustments pursuant to the Proposed Bonus Issue
Exercise Price
The Exercise Price of TOPGLOV-C77 will be adjusted (rounded to the nearest four (4) decimal points)
as determined by the following formula:
X (1 + N)
where,
X = RM10.70, being the existing Exercise Price of TOPGLOV-C77 immediately
prior to the Proposed Bonus Issue.
N = 2, being the number of additional TOPGLOV shares (whether a whole or a
fraction) received by a holder of existing TOPGLOV shares for each
TOPGLOV share held prior to the Proposed Bonus Issue.
Based on the above calculation, the Exercise Price of TOPGLOV-C77 will be adjusted from RM10.70
to RM3.5667.

Exercise Ratio
The Exercise Ratio of TOPGLOV-C77 will be adjusted (rounded to the nearest four (4) decimal points)
as determined by the following formula:
E (1 + N)
where, N is as stated above and
E = 10, being the existing Exercise Ratio of TOPGLOV-C77 immediately prior to
the Proposed Bonus Issue.
Based on the above calculation, the Exercise Ratio for TOPGLOV-C77 will be adjusted from 10 to
3.3333.
The actual adjustments to TOPGLOV-C77 will take effect on the ex-date of the Proposed Bonus Issue
to be announced by TOPGLOV subject to the qualifications stated above.
This announcement is dated 21 July 2020.

New orders being placed may only be received in 2022

https://www.thestar.com.my/business/business-news/2020/07/28/glovemakers-raise-asp-guidance-as-virus-lingers

Yamanaka on COVID-19

Antibody tests show pandemic is far from over

Few have acquired antibodies, with most still susceptible to infection

"One of the problems with corona vaccines in the past has been that when the immune response does cross over to where the virus-infected cells are it actually increases the pathology rather than reducing it," Professor Frazer said.

"So that immunisation with SARS corona vaccine caused, in animals, inflammation in the lungs which wouldn't otherwise have been there if the vaccine hadn't been given."

It's hard to produce a successful vaccine if the virus isn't activating a strong immune response.

And if a vaccine elicits an immune response that misses the target cells, the result could potentially be worse than if no vaccine was given.

There are several reasons why our upper respiratory tract is a hard area to target a vaccine.

"It's a separate immune system, if you like, which isn't easily accessible by vaccine technology," Professor Frazer told the Health Report.

Despite your upper respiratory tract feeling very much like it's inside your body, it's effectively considered an external surface for the purposes of immunisation.

"It's a bit like trying to get a vaccine to kill a virus on the surface of your skin."

The challenge is that coronaviruses have historically been hard to make safe vaccines for, partly because the virus infects the upper respiratory tract, which our immune system isn't great at protecting.

And while we have vaccines for seasonal influenza, HPV and other diseases, creating a new vaccine isn't as simple as taking an existing one and swapping the viruses, said Larisa Labzin, an immunologist from the University of Queensland.

"For each virus or different bacterium that causes a disease, we need a different vaccine because the immune response that's mounted is different," Dr Labzin told ABC Science.

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The likes of Kenanga Investment Bank Bhd thinks Top Glove's share price can breach RM32 given its prospects over the next few quarters fuelled by sustained high average selling prices (ASPs).

"Contrary to our earlier assumptions, the industry ASPs have risen even further month- on-month in anticipation of tighter supply and supernormal demand due to the pandemic," said Kenanga IB analyst Raymond Choo Ping Khoon.

In a research note today, Choo said Top Glove's August ASP was 30 per cent higher month-on-month instead of its earlier guidance of 10 per cent higher.

'This prompts us to raise our Top Glove's financial years ending Aug 31, 2020 and 2021 net profit by 16 per cent and 120 per cent respectively.

"Our target price is raised from RM25 to RM32, based on 21.5 times calendar year 2021 estimated earnings per share of 152.3 sen from 36 times previously," he said.

Choo said Top Glove's merits included strong management, a resilient earnings base due to its pricing power and its sheer size in capacity in the industry and solid earnings growth averaging over 100 per cent for FY21 compared to a price earnings ratio of 15 time

Speaking to CNA in an exclusive interview, Top Glove’s executive chairman and founder Lim Wee Chai noted that the company’s third-quarter earnings ending May 31 jumped more than three times to hit almost US$90 million, while its share price has quadrupled since the beginning of the year.

The best quarter has yet to come, he declared, as the demand is still “very strong”.

“We are now only just (getting) started. There are more good quarters to come. It is only the first quarter and we are seeing good results ... The next five or six quarters can be even more in terms of sales revenue and profit.”

According to research notes, Top Glove is expected to continue its bullish momentum and the uptrend is not expected to end anytime soon.
https://www.malaymail.com/news/malaysia/2020/07/19/malaysias-glove-industry-undeterred-by-us-detention/1885863

The market is experiencing an acute shortage and other manufacturers’ capacity is fully sold until June-21.

Demand for gloves has not only been rising from the healthcare-related businesses but also the food and beverage sectors and even hair salons, among many others.

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Demand for gloves will increase.

Top Glove workers churn out 16,000 gloves per capita each day. But the company is having trouble keeping up with demand even at full capacity. The lead time on deliveries on synthetic nitrile rubber gloves is now stretched to 420 days.

Orders from China and Brazil have approximately quadrupled compared with before the pandemic, while orders to the U.S. swelled 150%.

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30

The huatest stock.

Wow, quantum earnings.

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When asked whether scientists will be able to find an effective vaccine, Fauci said he's "cautiously optimistic," adding that "there's never a guarantee." He cautioned "it could take months and months and months to get an answer" before scientists discover whether the vaccine works.

Many countries affected by pandemic:
United States,Brazil,Russia,India, United Kingdom, Spain,Italy,Peru,France,Germany,Iran,Turkey,Chile,Mexico,Pakistan,SaudiArabia, Canada, China, Bangladesh, Qatar, Belgium,South Africa,Belarus,Sweden,Netherlands,Colombia,Ecuador,UAE,Egypt,Singapore,.........

Strong buy.

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(*_*)

Any good news?

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Oversold

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