Pyh96 16k buyers 89 sellers wtf r u talking
18/09/2020 4:54 PM

Did all really matched...then next week...will bull a bit.

humongainz Wow look at the buy and sell queue
18/09/2020 4:49 PM

I see next week slowly...up...10 days...with some profit taking...as per normal.

Invest1688 Geary: just commission already almost 39 cents, enough to make profit?
18/09/2020 4:45 PM

Yup... sometimes need to hit n run...with those shsrks... RM 3,800 cabut...have a nice weekend.

geary TigerWoods Who's the idiot who is keep pressing the price to 8.00? lol
18/09/2020 4:34 PM

Contra sellers...Friday lah today...those who bought around @7.50...this morning.
18/09/2020 4:38 PM

Sorry iam one of them...bought at @7.58...Sold at @7.99. pocket money.

humongainz I wonder who else would be selling at 8 at this point. It's pretty clear now, isn't it.
18/09/2020 4:32 PM

Buyers n sellers almost equal strength...@8.00.

KUALA LUMPUR (Sept 18): After posting a record-breaking RM1.87 billion net profit for the financial year ended Aug 31, 2020 (FY20), Top Glove Corp Bhd’s profits are expected to grow by more than ten times in FY21, according to some analysts' forecasts.

The stunning growth in profitability is due to higher-than-expected average selling prices (ASPs) and longer demand lead times.

The most optimistic of the lot was Maybank IB Research, which predicted that the glove manufacturer's net profit will climb to RM11.22 billion, underpinned by RM27.8 billion in revenue.

Maybank IB said it sees room for the ASP of latex powder-free gloves to rise further, on strong demand due to shorter waiting time and lower price compared with nitrile gloves.

“Our model has already assumed for higher ASPs until 3QFY21 and to decline from 4QFY21 on more new supply,” said the research firm.

Maybank IB has pegged its target price (TP) for the group at RM9.53.

Credit Suisse, which set its TP at RM16.20, expects Top Glove's net profit to soar to RM10.97 billion with solid revenue of RM21.5 billion.

CGS-CIMB Research expected the group's net profit to soar to RM10.38 billion, thanks to RM20.42 billion in revenue on higher ASP, as the strong global demand is expected to sustain until at least end-FY21.

The firm also upped its TP from RM9.20 to RM10, based on 17 times CY22 as it rolls over its valuation year.

RHB Research Institute, which has pegged its TP at RM9.50, forecasts net profit to hit RM9.47 billion, as revenue rises to RM23.25 billion.

PublicInvest Research has set its TP at RM9.70 and predicts RM9.15 billion net profit based on revenue of RM17.83 billion.

It noted that spot orders are currently priced at around US$120 per thousand pieces, with 30% of the group’s total capacity allocated for such orders.

“As such, we lift our earnings forecast for FY21-22F by 203% to 354%, as we incorporate the effects of higher ASP and increased production capacity into our earnings projections,” said the research house.

With a TP of RM10.68, Kenanga forecasts RM6.67 billion of net profit for FY21, with a revenue of RM17.29 billion.

Meanwhile, AmInvestment Bank expects net profit to hit RM6.54 billion with a revenue of RM21.81 billion. It also has raised the glove maker’s TP to RM8.40.

However, net profit is expected to plunge in FY22 as demand for gloves weaken. “We reiterate that such supernormal profits are not sustainable in nature and earnings growth should be tapering off from FY22F onwards,” said PublicInvest.

For FY22, Credit Suisse expected net profit to drop to RM4.96 billion with a revenue of RM14.6 billion. Maybank IB predicts RM4.26 billion net profit underpinned by a revenue of RM17.8 billion, while AmInvestment forecasts RM2.37 billion net profit on the back of RM11.6 billion in revenue.

Meanwhile, CGS-CIMB forecasts a net profit of RM5.3 billion with a revenue of RM14.32 billion. RHB expected net profit to fall to RM7.26 billion, underpinned by RM20.11 billion in earnings, while PublicInvest forecasts RM4.21 billion net profit with a revenue of RM12.34 billion. Meanwhile, Kenanga expected earnings to decline to RM4.1 billion, with a revenue of RM13.51 billion.

At the time of writing, Top Glove rose 21 sen or 2.7% to RM8, valuing the group at RM66.25 billion. It saw some 57.82 million shares changed hands.

Morpheus61 All Analysts, across the board, have next year estimation of Net Profits @ over RM 6 Billion.
That is ~ 300% over FY2020 earnings.Why then is the share trading at Forward PE FY2021 of 31-35?
If the people responsible can please answer the question, I & my team will be grateful. We intend to buy in, no matter what.

RM 6B. Hinted by boss last Friday. Patience he said. Marathon not sprint. Looking at TopGlove average PE multiple...30x is reasonable...so EPS of @0.73x 30. U decide loh.

Makeabuck is it TG want to purchase back 167m if based on 10% of paid up capital of 1.675b??

please correct me if im wrong.
18/09/2020 2:47 PM

Boss will SBB...another 210 millions probably.

Jiasaihooi TG next PAT is RM2 Billion, at PE 35 only, TG will be trading at RM16. Spot PE, not future PE.

MBB so far is quite accurate with their forecast
18/09/2020 2:45 PM

So buy lah...@100% return.

Registered_ID UBS is a foreign bank. And they are no.6 highest stake in TG. Good la, now you all know UBS is desperate for our shares.
18/09/2020 2:30 PM

That's how their Risk management professional team...done their hedging previously...risky business lah...almost same like oil or commodities hedging...lot of risks...now they are fightings to recover present losses.

KUALA LUMPUR: The FBM KLCI rebounded on Friday after a sharp sell-off in the previous session as investors rushed to make bargain purchases.

At 12.30pm, the index was up 6.73 points, which erased a little more than a third of the previous day losses.

The recent volatility and sell-off however seemed to have taken the shine off equities as trading activity slowed from recent days with 3.88 billion shares exchanging hands valued at RM2.39bil.

"We reckon that a consolidation may take shape in view of the lack of fresh leads.

"The renewed volatility will keep traders on their toes as quick profit-taking activities may limit any significant upsides over the near term," said Malacca Securities Research.

However, the FBM KLCI is en route to ending the week on a positive note, and has has managed to return above the 200-day simple moving average, which it gave up during the previous week's correction.

On Friday, Top Glove advanced 19 sen to RM RM7.98 after falling a whopping 7.5% in the previous session following the release of its FY20 results.

Hartalega, which ended the Thursday session unchanged, gained 12 sen to RM14.22.

Petronas counters also reacted positive to a rapid rise in crude oil prices. Petronas Dagangan jumped 50 sen to RM2.82 and Petronas Gas gained four sen to RM16.60. Petronas Chemicals meanwhile was unchanged at RM5.60.

Among other notable gainers, IOI was up 11 sen to RM2.82, Tenaga Nasional rose six sen to RM11.10 and IHH gained seven sen to RM5.41.

Meanwhile, Asian markets made some headway after the falling in unison on Thursday amid global economic recovery anxieties.

Japan's Nikkei rose 0.1%, China's benchmark index was up 0.6%, Hong Kong's Hang Seng gained 0.3% and South Korea's Kospi added 0.1%.

Following sharp gains overnight, crude oil prices continued to rise as Opec moved to enforce penalties on members that did not comply with its output cuts.

Brent crude climbed 22 cents to US$43.52 a barrel and US crude rose 16 cents to US$41.13 a barrel.

niubility666 that's a bond, not for trading bro
18/09/2020 2:06 PM

Yup...can exchange into ordinary shares...@2.03...last time was...#6.10.pBi.

jasonred79 @junx not that big. this morning trading volume was already 56m. a little bit of selling pressure as some people take profit, but the market can easily absorb 7m shares even if every single one of them decides to sell. ... IMHO, but I could be wrong.
18/09/2020 2:04 PM

Very less...@<0.1%.

supersinginvestor Honestly that day last week when tg went to 6.15 n the big boss of tg started buying bak tg..it caught ibs off guard..no one expected that if that did not happen tg sure limit down that day...now ibs r skrewed...cos tg boss got tg shares back...so relax. ..buy n hold
18/09/2020 1:50 PM

Yup... these are market trends... Irrational behaviour...we need rational thinking... that's why big boss did. Treasury shares can be sold back at higher price to issuing banks, or as bonus shares for shareholders. Reduced outstanding shares...increase earnings per share n increase NTA. Of course there are weakness also.

jasonred79 ... anyone want to make guesses whether we see MORE stupid 1m sell queues at 2pm pre market? ... I have no idea, I'm just curious whether we see repeat of yesterday. Now that was more than "borderline" price manipulation...
18/09/2020 1:36 PM

U r expecting it...today no...u least expecting it... then...yes... that's how they read the markets sentiments...EQ...is very fluid in traders mind n heart.

GorengBilis UBS stupidity to the max wakakakaka same madcurry
18/09/2020 1:00 PM

Maybe they typed wrongly.. Should be USD 5.00...^_^

klcianalyzer Sold my share but looks like TG is still strong. I’m not able to buy at my previous price anymore. Those disposing are not IBs. Most probably big contra players
18/09/2020 12:53 PM

Buy back in weakness...why u sold all...aiyoo.

ToraToraTora Fongkitmun..... Ubs rationale is despite demand up, raw material prices also up. Maybe they assume insufficient material will hinder production. Yesterday during riverstone briefing they also acknowledges raw material problem getting more acute
18/09/2020 12:44 PM

Smaller companies will have problems sourcing cheaper raw materials. Not so hard for top 4...but still the demand is acute... Price go up...so end of the day... consumers have to pay higher price per box/1K...at US50 n above.

foongkitmun it is not funny to give a funny figure such as 5 where it is very unacceptable in logic... and many will pawn their underwear to buy if its pushed down to level 5..
18/09/2020 12:38 PM

So much conspiracy theories...like most IBs gang up to downgrade TopGlove. But some many good news already came out...still want to downgrade. They do it on purpose right...too much jealousy...but if let them run TopGlove...I think bankrupt long ago.

Everybodyhuat We know the business is superb. Know the best quarters coming soon. TP by majority banks all high. Bit regretably this will not help if all these pariah IBs gang up to push the price down. They have the funds to do so, ee don't. Even LCW cannot do much if they keep pushing down. Just look at Supermax now down. Why? They have labour issues too? Business bad? None. 2 days consecutively down. This is the hidden reason why LCW looking to list in HK. No logic especially immediate announced superb quarter.

Tan Sri Lim Wee Chai...main target is to target Chinese markets... collaboration or acquisition in the long run. We Chinese money will still go back China, just like Robert Kuok did.

ToraToraTora Geary..... UBS analyst just released TP RM5 too over nx 12 mths
18/09/2020 12:18 PM

I think lot of people lazy to do their own analysis...n don't understand the business products or services they invested. They like to listen to those outsiders, who don't run the business day in day out. Most of them are manipulators...insiders who hold billions, they don't want to know n understand why, they hold so much shares. They prefer to listen to outsiders. Good luck to u.

geary laychee If you use last quarter and do a forward PE of 20, it is worth RM5.50.

If you use this quarter and do a forward PE of 20, it is worth RM12.

Now you see what IB can see.

Be more objective...within these 18 months or 6 quarters...Robust earnings growth for glove products. Don't look at pre or pro Covid19.
18/09/2020 12:13 PM

Why I say 18 months or 6 quarters... beyond that high margin of errors.

Agjl Geary.....i think better dun get too excited. I was just sharing what i gathered in the cnbc interview. Later i will get bashed by naysayers and get cursed at. :)
18/09/2020 12:03 PM

Relax...I was assuming that figure also...before that...so just buy n forget about the price volatility...any weakness just add...or if too hot...just sell some to average down your cost. These are strategies of long term investing.

geary geary Agjl Watched Live interview on TG by CNBC a while ago. Very positive comments and views given. Mentioned FY21 another 25% growth.

Quote” the latest quarter results is not our best quarter” unquote.

WOW.
18/09/2020 11:52 AM

Every quarter...25% earnings growth...so FY2021. SEP...PAT@6 billions...◉‿◉
18/09/2020 11:55 AM

So if you bought at today price...in SEP, 2021..PE multiple is below 12x.

Makeabuck Added and locked in...long haul gains...TanSri never failed us...he indicated robust QR and it was robust...and better ones to come...i can only expect better...ppl saying its overpriced la bla bla bla...well thats their opinion...value investing...so much value in TG now and moving forward...
18/09/2020 11:56 AM

Value growth investing...by the way growth n value are joined at the Hip.

Newplayer286 Tan Sri how come ur price still not above before BI? at least stand at 8.80 lo...if not no face...
18/09/2020 11:43 AM

I remember a story in BRK AGM...a child around 12 years old...asked Buffett...why your share price not up...why down...since your are so...good...Uncle Buffett gave the child some See Candies...and said...I don't understand...but u will probably when u grow up.

GorengBilis HONG LEONG TP RM13

https://klse.i3investor.com/m/priceTarget/56982.jsp
18/09/2020 11:41 AM

Reasonable forward price in January probably.

Bloodslug666 Uncle lim wan cash out buy car house.. Tq retailer
18/09/2020 11:34 AM

Topglov can SBB with 1 billion anytime...but they prefer to grow their glove production lines. With that 1 billion cash, u think how much they can loan from bank. All the banks rushing to lend to him. Mind you, more free cash flowing in the next 4 quarters, so imagine lah.

Babi Shark Just hold if you believe in Tan Sri, no need curse other la daigor
18/09/2020 11:21 AM

Yup...SBB in TopGlove is necessary at that time. Not like Maybank...they didn't give much bonus issue. TopGlove is different. They give less dividend, occasionally special dividend, bonus issue consider good, n allocate their cash efficiently for acquisitions or growth its organic business. Of course there aren't perfect...doing such a big business isn't easy okay. U should study its balance sheet thoroughly if you invested it. Look at the retained earnings n cash n equivalent increase overtime. Plus those debts are decreasing. Very strong balance sheet, forward going I think stronger. Probably, 1:1 bonus issue, next SEP. N their outstanding shares highest in Bursa.

newkid I believe 90 % of big margin holders , cyber sifu, who speculate TG price would shoot up after qr release have cut loss n tapao already !!! They miscalculated the dumping of off shores funds on both fronts , bursa and sgx . I believe local IB will slowly pick up the stuffs gradually as their funds are quite small. Tan Sri family might fork out some personal money to accumulate in sgx. Base on his emperor style of arrogant character , he will use his personal money to buy because some funds have questioning the using of SBB .
18/09/2020 11:02 AM

There are many retailers Cari Makan in Bursa...even in SGX... remember Soh Chin Wen cases of manipulation. These people will create dozens of trading margin accounts...so there are lot of money okay. Some are directors of said company. Usually the big sharks will win most...n baby sharks will bleed most. But when those baby sharks came asking for help...there just don't care. I knew some in Singapore who lost half a million...because they trust their father or grandfather sharks. All declared bankrupt. Now some a caught, done run away overseas. Just almost like 1MDB cases. Money really make the world round n round. Money really very dirty... that's why the real monk cannot touch money...those who touch it are fake monk. Look around your surroundings...then u will understand your investment better...◉‿◉

2527005 People should stop all kinds of allegation about IB pushing down price to save their call warrants payout. You don't work in bank you don't know their strategy. 1. Call warrants only cater to a very small market and the amount is also small. Guess what they queue every step up so when you buy you already buy at a premium from them. They already made money by selling to you at every price. Go see the queues. How many people q buy call warrants? And the same amount on both side are bank themselves. You sell to them every step down you buy from them every step up. You think they are so stupid and you are smarter? When price down blame IB. When price up take credit. Yeah right.
18/09/2020 10:44 AM

Yup...one issue with those derivatives...but these are liquidity mechanism in business sense...but some crooks take advantage...there are loop holes. Including those permitted short selling in ETF. Not only gloves counter are red...almost all are red...if downtrending markets. Market directions play very important factors...then those institutions n funds will take those chances. So lacking of two or three stars not shinning...when market trends are bearish. Looking good later on... untill Tuesday morning.

JBond007 Never Say Never Again to Top Glove.
18/09/2020 9:55 AM

Latest...No Time To Die... TopGlove shareholders...◉‿◉

ASP higher during Vaccine.
https://www.klsescreener.com/v2/news/view/729093

Organic business growth.
https://www.klsescreener.com/v2/news/view/729095

Jialat.
https://www.cnbc.com/2020/09/17/coronavirus-latest-europe-jittery-as-cases-rise-and-lockdowns-return.html

jasonred79 KYY... he says some points that I agree with, and many points that I disagree with. But I am shaking my head in confusion why someone with years of experience and multi million dollar investment fund is doing margin trades, AND GETTING MARGIN CALLS. (he himself admitted to getting margin called on some stocks)
18/09/2020 12:07 AM

Few times Kena already...maybe he too daring or overconfident...some sweet n slow talk from his IBs...so like this lah...become childish.

Yup...but how to justify above 33% down...last week on the 7/8/9/10...then 11st shot up...6.15 to 8.03...limit up few minutes. Not easy looking at only call warrants issue. Technical rebound... expected.
17/09/2020 11:45 PM

BursaBiggestBoss Actually kyy kiong kan liao. He said he sold all his topglove but actually he cut loss cut till he got big loss till he lao sai till cannot walk liao!!!
17/09/2020 11:46 PM

I remember that very well...because...I won...buying with cash n margin...@6.18...sold...@8.00...1 day job.
17/09/2020 11:51 PM

newkid More look like roll down or press down instead of disposing . Kwap n kwsp combined hold more than 500million, they will not sell. Local IB shares are not sufficient to press down in this scale , even all IB sell, which are also very unlikely. Public Mutual n Great eastern fund the most hold 350 million shares. Those from Australia n US funds combined hold more than 1.5billion shares, they are likely the master hand behind this shake up.
17/09/2020 11:29 PM

Yup...but how to justify above 33% down...last week on the 7/8/9/10...then 11st shot up...6.15 to 8.03...limit up few minutes. Not easy looking at only call warrants issue. Technical rebound... expected.

Friendship Short selling is replaced by selling big volumes to push down prices and then buy back on the same day and make intra day gains

Just like u make profit from contra gains
17/09/2020 10:24 PM

Yup...something fishy about ETF funds short selling...now ETF very hot.

KUALA LUMPUR (Sept 17): Top Glove Corp Bhd said it expects to resolve the detention order imposed by the US Customs on its subsidiaries by the end of this year.

Currently, the group is still engaging with the US Customs and Border Protection (CBP) to lift the Withhold Release Order (WRO) that was imposed in mid-July, following allegations of forced labour and that the matter is progressing well, said Top Glove executive chairman Tan Sri Dr Lim Wee Chai.

“We believe it will be settled very soon. We estimate it can be before the end of the year. [In fact] we believe it should be settled within a month, but this is only our estimate,” Lim told a virtual press conference held in conjunction with the group's announcement today of its latest quarterly and full-year financial results.

The North American market remains the group’s largest market, accounting for 22% of its sales volume for the financial year ended Aug 31, 2020 (FY20), though sales volume to the market has fallen 6.5% in FY20 compared with FY19, due to the import ban.

Nonetheless, the group said there has been no impact to its overall revenue and profit due to the strong demand for its products globally, and the long lead time for the delivery of orders it received from other countries.

For example, it said sales quantity in Asia ex-Japan has jumped 53.8% year-on-year, followed by the Eastern Europe market 29.5% y-o-y increase and the Japan market's 29.1% y-o-y growth.

The import ban was placed on Top Glove's subsidiaries, Top Glove Sdn Bhd and TG Medical Sdn Bhd on July 15.

On Sept 7, Top Glove said it had submitted an audit report to the US CBP in relation to the alleged forced labour issue filed against the glove maker. The report, according to the group, was prepared by an independent consultant and entailed virtual interviews of about 1,100 of the company’s migrant and local workers in various locations.

Last month, the group said it would pay an estimated remediation sum of RM53 million to its foreign workers, subject to finalisation with the US CBP, to resolve the matter.

Today, Top Glove said it has made two remediation payments of RM4.4 million each to the migrant workers who were employed by the group before 2019, on Aug 10 and Sept 10.

Retailers profit taking...

https://www.klsescreener.com/v2/news/view/728941

Nathan27 Now tan sri cash pile swelled up , pls step in to support price tmr ;)
17/09/2020 8:58 PM

Yup...@>1.2 billions...let see.

RG1972 Jom & Terry (KLSE Stock Sharing)

Today, the overall market sentiment has turned weak in the afternoon session due to 3 reasons:

1) Despite good TOPGLOV quarterly results and prospects, the market sold glove stocks on news, especially TOPGLOV. This affected the KLCI sentiment.

2) The reddish US futures spread negative sentiment across major markets, and Malaysia is not spared from it.

3) Combining #1 & #2, the market sentiment turned weak starting from today's afternoon session.

"Derivative are weapons of mass destruction," Buffett.
It did happened in year 2008 crisis.

Shawalrich87 How come that possible @ pjseow, even with Sterling financial result, lock in profit for next 18 months also get sell down ..who did this ? Not make sense
17/09/2020 8:32 PM

Mr.Market is Irrational...U must be rational...as long your data n analysis are correct...u are right because of your understanding n not because u need to have the crowds agreed with u or not.

pjseow Based on total eps of last 4 rolling qtrs , Topglove PE is lowest at 34 followed by Supermx at 40, Kossan at 50 and then. Harta at 86. It is ironic that Topglove , the world number 1 glove maker was sold down with lowest PE. Topglove management provide quite good visibility. of next qtr earning with % of spot.sales and ASP increases. The next rolling 4 qtrs eps will give Topglove PE at about 17 assuming next.qtr earning at 1.5 X of Q4 earning based on today closing price.
17/09/2020 8:24 PM

Yup... Weakness Buy... Forward PE multiple much lower...I don't see TopGlove selling at below 15x PE.

Dave Jet Tan Sri Lim made TG loyal investors earn big over 20 years..
17/09/2020 8:15 PM

Yup.

HumbledInvestor Here's what we think about Topglove! Sell on news?

https://klse.i3investor.com/blogs/HumbledInvestor/389145.jsp
17/09/2020 8:08 PM

So before news came out...how come sold down...on the 7th, 8th, 9th n 10th. On the 11st... suddenly limit up for few minutes in the morning. Explain lah.

hengsame YA:
Jingweihan Kyy is a frog. Listen to him die. Tomorrow he will say buy in topglov
17/09/2020 7:37 PM

KYY the snake will hide all his trading losses and only tell you trading gains.
17/09/2020 7:44 PM

Losing in Market crisis like in March this year are mostly those on Margin. If u bought with cash...even higher price a good FA counter...u never sell...then u average down...now u already win back already. Probably he lost more than he won. That's why he feel afraid during this Covid19 Pandemic uncertainties, he sold n profit less is okay. We have nothing to say, he is so old, very experienced, n now maybe a bit childish.

Nobody can control the price of outstanding shares in TopGlove...But with many sellers because of uncertain market directions...but these people will buy back...they are all professionals traders. I will see how long it takes to upswing again. Hold or buy on further weakness.

ThePowerOfGlove Start learning to chase at low
17/09/2020 7:24 PM

Chase low on strong FA counter...where got counter keep on going up like rocket...find one for me...Market directions also very important... crisis...all down...But which are the counter...to go up faster...of course earnings growth counter. Just hold...but always remember to lower your Holdings or portfolios cost of capital.

Bloodslug666 I took advantage of the situation and sold all my Top Glove shares... From my kyy

https://koonyewyin.com/2020/09/17/do-shareholders-benefit-when-top-glove-buys-back-its-own-shares/
17/09/2020 7:22 PM

Old already Uncle KYY...talk like children.