Aiseh.. what do we know? Anxious was right all along.

@Anxious, sorry to hear of your loss. This is why when market is down, I try not to read the comments on i3, as it can really affect your emotions and cause you to panic unnecessarily. As for me, I'm holding, and I've been adding. Reason being, this is my investment money, which I can afford to keep in the stocks for a long time. No reason to sell at this level if I didn't sell at 4, or 3. Good luck. Hope you get to recover some of your losses.

Revenue is close to RM1B almost similar to last Qr. NP margin 22.5% vs Kossan's recent 13%. So much better result than expected. If not for the huge tax deduction, it would've been impressive!

Kossan was the first glove stock I bought. But I got greedy and started buying Harta, then got greedier and bought TG, thinking "can't go wrong with the biggest of the big 4". Ha!

@bang_miskin worse, no dividend. Zero. KOSONG. Why did I even bother putting my money in that stock when I could've gotten so much dividend from Harta and Kossan!

Posted by bang_miskin > 3 hours ago | Report Abuse

@YourQuirkyWays29 Yes bad sentiment from HK listing was a factor, but I think lower net profit to shareholders and smaller profit margin plays a bigger role in the recent sell-off. There is little indication that Topglove profit will rebound the next quarter, since we expect ASP to further decline. I think it also puts a pressure on Harta because the market now expects Harta to be at the lower range of the pre-pandemic profit level.

Tech stocks still have room to drop, but bought a few already as well - Inari, Frontkn & Gtronic, and bracing for a bumpy ride. Need to find money to buy tech as well.

I hear you, bang miskin. What I've sold a few months ago ex-div at 5.52, I've bought back at lower prices. As the price goes lower, I need to find stocks to sell, in order to buy more Harta, but in this market, there aren't any stocks that can be sold for a profit. Unless I let go of heavy stocks that are slightly in the negative territory, like Tenaga. Really pocket kosong already. LOL!!

Posted by bang_miskin > 5 hours ago | Report Abuse

my biggest regret is not allocating extra funds for these occasions. Now is best time to buy, pretty much any counter. Tengok sini-sana harga manyak murah, tapi pocket kosong.... :(

Kossan's QR has suppassed expectations, which explains the price movement today. Plus dividend of 0.12cts is super duper attractive!

HAHA you're wrong! I am on Ular's side. I support TG, as I am a shareholder. Unlike you. Not a shareholder, but barking here number 1! the only dog here is YOU.. the MAD DOG who bites everybody and anybody. I see you have many enemies in other forums too. i wonder why.... hmm. LOL!

Posted by Mikecyc > Feb 18, 2022 2:54 PM | Report Abuse

Haha very interesting loh .. after stockraider dog bite dogg bone with sslleee in Insas , Jokker jolycne here dog bite dogg bone show with Ular .. now sslleee is play the show in Harta after i exposed Philllipp told lie on TG 5.32 ...


Loh Kok Wai W
2370 posts
Posted by Loh Kok Wai W > Feb 18, 2022 2:56 PM | Report Abuse

Observatory, thank you for taking the time to share your knowledge. I split the bet between Harta, Top Glove and Kossan (in that order). Harta makes up the most of my investment in Bursa at 23%. Over invested yes, but it used to be close to 50% before last qtr ex-dividend. That was nerve-wrecking LOL!

Posted by observatory > Feb 12, 2022 8:13 PM | Report Abuse

@tonypang01, Top Glove pre-pandemic earnings was above RM400m per year. The company has since expanded its capacity by nearly half. Let's assume upon normalization, sales can keep up and margin remains like pre-Covid. So earning increases proportionally, say reaching RM700m. With current market cap is RM17.7b, implied forward PE is 25 times.

But Top Glove has almost zero net cash now (after deducting perpetual sukuk). It may manage to raise cash via HK listing but at the expense of equity dilution. The plus is being the largest producer may confer advantages.

With this naïve calculation, the forward PE of Harta at 34X > Top Glove 25X > Supermax & Kossan at about 20X.

Net cash consideration: Harta ~15% market cap, Top Glove zero, Kossan 40%, Supermax 100% (but watch out whether Supermax may squander its cash in US, not to mention we have no idea when sanctions will be lifted)

Based on the relative track records of these firms, the market seems to have priced them in the right sequence. I have no idea which one offers a better tradeoff.

Maybe split the bet? Maybe wait until there is more clarity on future normalization path?

@JSJH02 Thank you for your sharing. Along with your points below, I also concur with Observatory's point on value investing. The point is to buy the stock at a fair price, and even better when it's undervalued, but gotta be careful not to to be led into a value trap.

Posted by JSJH02 > Feb 11, 2022 2:45 PM | Report Abuse

Figure out what work in long term is a very powerful mental model.

Just think of what is going to work in long term. What is a sustainable business? there are few business models are work in long term. A simple and working one the low-cost producer. One of my favorite.

Harta is the lowest cost producer yet the most innovative glove manufacturer. They focus relentlessly to reduce cost, improve productivity and and quality of the product.

They are the 1st glove moving into Industrial 4.0, they digitized their plants (so far 3 plants have been fully digitalized).

They are trial running their automation of glove packing process, which is the bottleneck of the whole automation process currently. This very reduce their manpower required to be reduce by 20%, thus reduce cost.

They are the most efficient player that able to produce 50,000 pieces of glove per hour which is unmatchable.

They spend more resources that other players on R&D, and implement best practices. They are the 1st player that produce medical nitrile glove commercially. They achieved multiple industry 1st.

They focus on company culture and DNA that keep improving and innovating. Being a low cost producer is good but others will catch up one day. But develop a culture and DNA that keep improve on efficiency, lowering cost and innovating are far more crucial in long term.

Harta is a one of the most well manage company in Bursa, its management is honest and skilled. Instead of talking big, they focus on business. They always under promise but over deliver.

Glove is going to have a secular growth post covid, plus it is already a grow industry.

Harta have so many correct matrix as an investment.

Don't focus on share price but its business. They definitely will do well in future

@observatory appreciate your explanation. For the past two qtrs including this one, Harta has been paying out more than 60% of its net profit, made possible by its strong cash reserves. When profit normalises, it is my hope that 1) DY is higher than FD and/or 2) Share price would've bottomed, and will trend upwards.

@kinuxian likewise with regards to utilities, banking, plantation.. managed to take profit, no losses here but generally not happy with the meagre returns from these sectors LOL! Good luck!

@kinuxian obviously you can't expect double digit DY unless the business continues to make supernormal profits. As long as the dividend is higher (hopefully much higher) that FD rates, I'm happy. That's why we diversify, invest in growth stocks, and dividend stocks.

@kinuxian yes you're right. But for now, that is the dividend I've gotten during the period of time when I could've gotten a lot less had I kept the money in FD. You might say, "but you could've used the money to invest in other stocks." Then my reply is, people who invest in other stocks in other sectors are losing money too, esp in recent months when there's selldown in consumer and construction and tech. Could've should've.. hindsight is 20/20.

Harta's dividend payout for the last 4 qtrs (including this one): 17.7+14.80+35.2+19.75=87.45sen

If your average cost is RM8 = DY 11%, av cost RM7 = DY 12% pa, av cost RM6 = DY 15%.

As long as Harta continues to pay out good dividend and make it worth my while being "stuck" here, I have no complaints, since this money would've gotten crappy interest if I had kept it in FD. When the opportunity arise, I will definitely buy more to lower my cost and increase my DY. Many people are making losses investing in other sectors but without this kind of attractive dividend to show for at the end of the day. All is not lost my fellow glovers.

@observatory Thank you again. The truth is, for those of us who are stuck in gloves, caution is something we have learnt the hard way. For me at least. :)

Not childish. Understandable :)

Posted by bang_miskin > Feb 9, 2022 7:42 PM | Report Abuse

@jolynce Yeah I get what you mean.
I don't want to stray into politics, but if the incumbent government performs badly, I will vote the opposition, just to punish them. It's very childish, but they don't get a free pass for the screw-ups in 2021

@bang_miskin you know I know.
By the way, months before budget 2021, one ex minister from the opposition bloc urged the govt to impose windfall tax on tauke2 for their extraordinary profits. I noticed he likes to use the word "tauke" as if.. all of them are Chinese or so he's implying. So, next GE, who is the lesser evil? I have no clue. :P


Posted by bang_miskin > Feb 9, 2022 7:04 PM | Report Abuse

The timing of the tax is impeccable, right when they make the most profit. Coincidence? They say it affects all profitable companies, sure buddy, sure....

Can't wait for the next GE to get them out.

It's such a pity that the prosperity tax will affect the next QR. Bloody blood sucking govt!

@observatory: Thank you for your analysis. This was also stated in the QR:
"The construction for the upcoming expansion under NGC 1.5, is currently underway and the Group targets to commission the first line by October 2022. NGC 1.5 will house 4 additional production plants which will contribute 19 billion pieces to the annual installed capacity. With the completion of NGC 1.5, the Group’s annual installed capacity will increase to 63 billion pieces per annum."
From 42 billion to 63 billion, this close to 45% increase in capacity should mitigate the drop in ASP and improve it's revenue and profits. Demand must be very strong for them to target this increase in capacity.

Posted by observatory > Feb 9, 2022 5:29 PM | Report Abuse

JN88,
By late 2021, Harta had already commissioned all lines in Plant 6, and 4 out of 10 lines of Plant 7. The total capacity then was ~42 billion pieces per annum. Today it still has one more line at Plant 7 to be commissioned, implying a total capacity of about 43-44 billion.

@YourQuirkyWays29 I'm not an expert, but managed to make some coffee money selling on strength, buying on weakness, and repeating this. I did not sell on strength two days ago, thinking that price will move higher in the next few days in light of the latest wave of Covid surge in our region. What I failed to take into account is the release of QR! AIYO! No choice, just hold and wait for the next opportunity. Buy on weakness, sell on strength. That's the only way to trade.


The price fluctuated between RM5 - RM6 - RM7 several times in just the past 6 months alone, if you are so good at trading, you should've been able to make money by buying low and selling high.

Comparing current revenue and profit to supernormal times, of course it will go down eventually. How can a business keep making supernormal profits forever? We should be comparing it to pre-pandemic times!

Posted by apple168 > Feb 9, 2022 9:25 AM | Report Abuse

Both Revenue (business) and profit also slammed down by at least 50%!

@calvintaneng, weren't you the same person who issued buy call on KPower? Lucky didn't listen to you. Heng ah.. :P

what's wrong with this counter? After umpteen months, still lower than my selling price,
despite palm oil prices reaching all time high? HUH?

@bang_miskin hahaha.. monyets indeed. When the stock is green, they keep quiet. Let them taunt lah, never mind. Anyway, what you said makes a lot of sense.

Posted by bang_miskin > Feb 8, 2022 6:52 PM | Report Abuse

"...You mention that ASP will further decline by 40%. Too steep and doesn't explain why all glove companies are expanding they capacity. I do not agree that there is a price war with China, and ASP remains elevated compared to pre-pandemic levels. The Rm3bil or RM5bil no matter how you see it, is a game changer considered that most glove companies are leveraged before the pandemic and are strapped for cash. One can do quite a lot with the money, like diversifying (i.e. cabuting) into other industries. On the other hand like you say they are continue to expand on gloves near the Thai border! Such a foolish long-term move if ASP is set to decline by 40% no?"

He mad dog mah, that's why bark here and there, running after anybody and everybody. Just don't go near him lah, later kena rabies. LOL!

Posted by UlarSawa > Feb 8, 2022 4:28 PM | Report Abuse

Apa dog you cakap. You cakap cacing now cakap dog kah. Ular takda bela dog leh. No dog fighting leh. You got bela dog kah. No wonder keep fighting with so many dogs in the forum lah. Correct?

Posted by Mikecyc > Feb 8, 2022 4:25 PM | Report Abuse

Haha what a dog bite dogg bo

Hahaha.. not that it’s any of your concern. But since when I have Supermax?? Just shows how clueless you are :P

Haha.. whatever makes you happy since you are so much into ranking. Let's see Taikor act like a real taikor in its share price and profits and dividends paid to shareholders lor. :)

Posted by UlarSawa > Feb 8, 2022 3:36 PM | Report Abuse

Cash used to pay for expandion SBB pay tax pay record high dividend over 5 billlion also leh. Of course lower lah. Still ada cash lah. Later HK IPO ada more cash also mah. Raising fund is no issue lah. Important must maintain Taikor position and improve leader lah. Those cannot catch up one will drop off leh. Taikor need to maintain market share leh. Taikor remain as World Taikor leh. Harta no 2 become no 4 ranking kah. Correct?

I believe many Harta shareholders have strong holding power. There won't be a selling tsunami, based on this QR alone.

That's another thing.. taikor why cash reserve so low compared to Harta? Harta cash reserve is huge, shareholders are of course happy that they use it to pay more dividend. Who's complaining? Nobody. After paying using past reserve, still got a lot of cash left. Unlike TG. Hopefully next QR, TG will show it's true capability lah like you said. I also want TG to do well since I am also a shareholder. Taikor or no taikor - WHO CARES?? "Black cat or white cat, if it can catch mice, it's a good cat."

Posted by UlarSawa > Feb 8, 2022 3:16 PM | Report Abuse

Harta give dividend 500mil but only earned 259mil from last qtr. Ini macam use past reserve to pay dividend kah. Like that cash balance will drop leh. Ada cash give dividend macam Taikor kah. ok lah. better than dont give lah. Correct?

After comparing Harta's QR with TG's, very surprised to see the huge difference. TG revenue at 1.58B but NP only RM200M. NP margin also half of Harta's..don't even talk about the pathetic dividend. I wish I had put all my money in Harta. Anyway Hope to see TG next QR improving drastically so I don't regret putting my money in this stock lah.

Posted by UlarSawa > Feb 8, 2022 2:37 PM | Report Abuse

Harta revenue only 1bil leh. So low only leh. ok lah so low pun ada net profit 250 juta. Mana mau cari lah. Hope the harta boss dont ipen big mau lah. Boleh?

Not overly thrilled with the result but not disappointed either. Considering their revenue is lower than Top Glove, yet NP and NP Margin are so much higher. This QR is quite similar to June 2020 QR but dividend being paid out is satisfactory at 14.8sen vs 2.1sen then. Btw net profit of close to RM260million in one quarter is really fantastic. How much net profit they earn per day?!

Nothing is impossible in the stock market especially when there's a black swan event. But right now, RM2-3 is just brainless talk. Like how this same person believed that you can still get your dividend when you sell one day before ex-date. Just one statement like that was enough to help me determine who knows their stuff and who don't, and who to read and who to skip and ignore. Saves a lot of time and energy. :)

Posted by NatsukoMishima > Nov 16, 2021 12:25 PM | Report Abuse

Today sell tickets still can get cash dividend if not mistake ????

After selling some at 6.10, bought some at 5.8+, yesterday bought some at 5.5+, today tumbled some more. Pengsan!! LOL! Wish that I wasn't so impatient to buy back. Really challenging trading in this market, which is why we should only use money that we can afford to keep invested. The consolation now is that we're not alone. Glove, gaming, tech, industrial, property, banking.. semua humpty dumpty falling down big time. This is a true test of your holding power and this is when investing takes courage! Since this is the year of the tiger, may we harness its strength and courage to accomplish our financial goals! :)

"This is probably the year where we will find that buying basic profitable companies selling at modest PE and giving out dividends and growing safe and steady to be a good buying choices for the coming few years."
Thank you for your words of wisdom, Philip. Wishing you a roaring 2022!

14-Jan-2022 Insider MR NG KWENG CHONG (a company director) acquired 4,000 shares at 1.450 on 14-Jan-2022.

Mr Ng steady lah.. everyday buy 4,000 shares. Hello Mr Ng, some of us buy more than you! LOL!

Ohh thanks bang_miskin.. added MPI to my watchlist :)

I'm really interested in Frontken.. made a few rounds of profit trading that stock, but that's why I only used it to make quick trades, cos' it was very expensive.. very high P/E. Thank goodness I didn't hold.

Tech stocks are still expensive compared to 2020 prices. Still got more space to drop.. just keep window shopping for now where tech stocks are concerned. Having said that, I think Gtronic is worth considering now.

Wow.. market carnage. At this point, I will only look at buying cash rich and profit-making companies like Harta.

sold some at 6.10 yesterday, bought back today at 5.87. I've missed being able to swing trade on Harta. :)
Yes, don't chase lah. Buy on weakness, sell on strength.

Haha Good Luck with your new year's resolution @Anxious! Like @bang_miskin I am feeling good about Harta in the coming months. Happy New Year, folks! :) :)

Posted by Anxious > Dec 31, 2021 11:53 AM | Report Abuse

Was hoping for a good close to the year but unfortunately isn't meant to be.

I'd probably be happy if it closes above RM5.60. Next year is a different ball game .

Happy New Year guys. My New Years resolution, stop looking at this counter everyday.

I've queued to sell at 2.58 for 2 weeks. Didn't expect to be done at 2.59 today. Thank you! :) Happy New Year everyone! May 2022 be kinder to all of us. :)

wah so fast turn green ah? No chance to buy more lah like that!

Hi all! Just got back from a beach holiday in Pg. The weather there was lovely, the beach was lovely, the food was lovely!! I've missed nothing much here it seems LOL! Good to see Harta holding strong. I was hoping to add more around RM5 even though I believe that at this price the downside risk is minimal.

@benho 154K @2.00 = RM308K 308.. can't get more Chinese than that. hahaha!

Hahaha.. I used the word fitnah, because I agreed with Ular that you Johnnykenachewed5times is the king of Fitnah. You might as well say all the TG investors here are actually one person, i.e. UlarSawa using his hundreds of aka IDs? Haha! I really cannot brain this.. you are obviously crazier than I thought! LOL!!! Tell you something lah since you're so clueless and brainless - Ular is faithful to his/her TG Taikor only. Me not so - i actually like Hartalega and Kossan too! Faham ah? Pay attention lah! What OTB posted or not posted also you don't know. Hahaha! Happy weekend TG shareholders! We live to fight another day! :) :)

more testing and vaccination translates to higher glove demand - Fact!

Haha.. fitnah lah as much as you want. Cannot prove anything also. All talk no action tin kosong LOL!!