chat also cantik

Kossan 5.70.. Soon 6.00

coming....pls don't alang alang...

Today hopefully live water...

This 2 days , volume up

Top glove 5.62..power....

all glove share up, only supermax down....why???

30/1/2015
carepls-0.45, kossan-5.22, harta-7.59, top glove-4.93,supermax-2.20.

carepls-0.54, kossan-5.59, harta-8.18, top glove-5.55, supermax-2.06..zzzz.

Top glove 5.50..

Top glove 5.4, supermx 2.06

Top glove 5.37.. Up up up.. Supermax ....2.08....

today still dead water

Going forward
The group is confident that it can get plants 10 and 11 fully operational by the
end of 2015 as the infrastructure is already in place. This will free the group
from capacity constraints and help to improve earnings in the next two years as
the new production lines are installed gradually in 2015. Furthermore, its new
contact lens business could help to boost earnings. Supermax is still waiting for
the infrastructure to start the construction of Glove City.
Maintain Hold
Although Supermax is currently trading at 30% discount to the industry
average at 12x CY16 P/E, we think that smooth earnings delivery and expansion
plans execution going forward are two of the most important factors for the
stock to re-rate. Supermax’s financials were hit in the past due to issues which
were out of the company’s control. Following a series of misses, the
management now prefers to be more conservative in its targets, and is opting to
focus on delivery which, we believe, will be better for its share price
performance. We maintain a Hold rating on the stock, with an unchanged
target price of RM2.21 which is based on 12.6x CY16 P/E

Long delivery lead time
The group’s capacity has remained flattish over the past few years at slightly
under 18bn pieces of gloves per annum as its projects have been delayed due to
inadequate infrastructure. As of end-2014, Supermax’s total capacity was
17.8bn pieces per annum. As a result of capacity constraints in the past few
years, the company faces an oversold position which would not ease until after
June-July 2015. Hence, Supermax is confident that it can fill up the new
capacity from plants 10 and 11. Its current utilisation rate is 85% for both nitrile
and natural rubber lines.
Glove City and Supermax Business Park in progress
Supermax indicated that its other projects, namely Glove City and Supermax
Business Park, are still in progress, but the company prefers not to give a
timeline on when these projects will be completed. As some of the issues are not
within the company’s control, it prefers to err on the side of caution and only
announce them when there is greater clarity on the timeline to completion.
Nonetheless, we note that the company aims to start on the Glove City project
once plants 10 and 11 have been completed, subject to the availability of the
necessary infrastructure. As for Supermax Business Park, the company is
currently subdividing the land title in order to sell the land to the supporting
industries.
Venturing into new contact lens manufacturing business
In a bid to expand its business beyond rubber gloves as the industry turns
increasingly more competitive, Supermax is venturing into the contact lens
business. It has incorporated a 98%-owned subsidiary, Supervision Optimax
Sdn Bhd on 7 March 2014 to manufacture and distribute the products to the
global markets. The capital investment for the first phase of the project is about
RM65m. R&D work would be carried out in the UK while manufacturing will be
done in its manufacturing plant in Sungai Buloh. Earnings impact would only
be felt one year after the launch of the products in June/July 2015. Supermax’s
total capex for 2015 and 2016 will be about RM85m and RM125m, respectively,
a portion of which will be earmarked for the new business and the remainder
for new glove production lines.

CIMB
A visit to Supermax’s new plants
We recently visited Supermax’s new plants 10 and 11 which started operations
in Aug 2014. The company is confident of achieving full commercial
production by year-end as the infrastructure is already in place. Its earnings
in the next two years will be driven by the new plant capacity, while its
fledgling contact lens business should also start to contribute. We maintain
our Hold rating on Supermax, with an unchanged target price (12.6x CY16
P/E, its 3-year historical P/E mean, ~40% discount to Hartalega).
What Happened
We recently visited Supermax’s new manufacturing plants (10 and 11) in Meru,
Klang. The visit, hosted by CEO Dato Sri Stanley Thai, began with a briefing,
followed by a plant tour to showcase the new production lines in plants 10 and
11, as well as facilities like a mini power generation station and water tanks. We
also saw its new packaging machines. Plants 10 and 11 can accommodate 20
production lines which are capable of producing 6.2bn pieces of nitrile gloves
per annum. This will increase its nitrile capacity from 41% of the total
production capacity to 55% by end-2015. The first batch of production lines in
the two new manufacturing plants have been operating since Aug 2014, while
the remaining lines will be gradually installed.
What We Think
Supermax’s new lines can run at an average speed of ~45k pieces/hour while its
automation has reached the final stage which is on par with its peers. It is
currently trial-running its automated packaging machine. We are encouraged
to see that Supermax’s R&D investment to develop a new patented packaging
method is finally bearing fruit. This new packaging method makes it easier to
retrieve gloves as compared to the conventional box packaging. It will also help
its customers save logistic costs. As the infrastructure is now in place,
Supermax should be able to achieve full commercial production from plants 10
and 11 by end-2015. Its delivery lead-time currently is as long as four-to-five
months due to capacity constraints. Hence, it should be able to fill up its new
capacity in plants 10 and 11. While the company is still awaiting for the
infrastructure for its glove city, the new production capacity from plants 10 and
11 should be able to provide earnings growth in FY15 and FY16. Its venture into
the contact lens business will also help boost earnings growth

Harta, kossan, top glove all up , green green, supermx still red...

1 usd =rm3.73.. Why supermx still sleep... Others glove share already on track...

Top glove 5.30... Supermx still 2.07...

Today top glove up to 5.20

Supermax next quater profit result sure 10-15% up

Low latex cost and strong usd..

Commentary on prospects and targets
Top Glove’s expansion plans are very much on track. Its newest facility, Factory 29, came on-stream in February
2015, boosting the total number of production lines to 484 and increasing production capacity to 44.6 billion gloves
per annum, thus enabling Top Glove to capture more nitrile orders in developed and emerging markets. Factory 29
also comes fitted with faster and technologically-advanced machinery, which will enable it to operate more efficiently
and profitably. In the pipeline is the expansion of Factory 27 in Lukut, Port Dickson (to be completed by December
2015) and Factory 6 in Thailand (to be completed by July 2016), as well as the construction of a new facility, Factory
30 (to be completed by September 2016) which will respectively bring the number of production lines and capacity to
538 and 52.2 billion gloves per annum by September 2016.
Given the size of its operations, Top Glove is also keenly on the lookout for M&A opportunities both in similar and
related industries, with a view to further expanding the scope of its business.

Top Glove expects the glove business environment to remain competitive and challenging. However, with better cost-
discipline and cost-optimisation practices via continuous automation in place, coupled with an unwavering focus on
quality across all aspects of its operations, Top Glove is confident of navigating its way through this challenging time,
to continue delivering an improved performance in the quarters ahead.

Top Glove’s performance for the second quarter (“2QFY15”) and six months (“1HFY15”) ended 28 February 2015
compared with the corresponding periods last financial year are as tabled below:
2QFY15 2QFY14 Variance 1HFY15 1HFY14 Variance
RM’mil RM’mil % RM’mil RM’mil %
Revenue 572.2 548.3 4.4 1,139.9 1,122.3 1.6
PBT 69.6 50.1 38.9 128.6 111.9 14.9
PBT Margin 12.2% 9.1% 34.1 11.3% 10.0% 13.0

Top Glove posted a revenue of RM572.2 million for 2QFY15, a 4.4% increase from the corresponding period last
year, while profit before tax stood at RM69.6 million, representing a growth of 38.9%.

On a half-year comparison, revenue and profit before tax also rose by 1.6% and 14.9% to RM1.14 billion and
RM128.6 million respectively against 1HFY14.

Contributing to stronger revenue figures was growth in sales quantity of 5.3% from 2QFY14 and 4.5% against
1HFY14, attributable to higher sales volume stemming from more natural rubber and nitrile glove sales. The demand
for natural rubber gloves from emerging markets, where Top Glove has a stronghold, with exports to 200 countries
worldwide, in particular continued to grow steadily.

Also accounting for the improved performance were Top Glove’s on-going internal improvements in terms of quality,
efficiency and cost control measures. Better margins arising from newer and more efficient glove machineries and
factories, also served to bolster profitability. In addition, following a post-consolidation turnaround, its China
operations delivered a positive contribution to total group profit. A stronger USD also positively impacted revenue and
performance, and coupled with lower raw material prices, helped offset last year’s tariff increases, part of which Top
Glove was unable to pass on to customers.

Raw material prices continued to trend downward compared with 2QFY14, with natural rubber latex prices dropping
by 24.8% to an average of RM3.63/kg, and nitrile latex prices declining by 5.3% to an average of USD1.03/kg.

Wait big boss push

（吉隆坡16日訊）據傳，速柏瑪（SUPERMX,7106,主板工業產品組）預計7月投運的新廠，將用於生產隱形眼鏡，賺幅高達60%。速柏瑪有意透過海內外分銷中心銷售新產品。
分析
雖然分析員普遍看好新拓展計劃，但基於貢獻營收不多，相信短期內不會提振該公司的業務展望。
達證券表示，速柏瑪持有該新廠98%的股權，新廠高賺幅可提振該公司的淨利，惟需時間建立品牌與用戶數量，手套業務依舊是該公司核心業務。
大馬研究預計2015財政年第三季，方可看到新廠的貢獻。
此外，分析員表示，基於手套的需求量仍然相當高，速柏瑪應該積極擴展速柏瑪手套城和綜合手套製造大廈。目前，公司透過內部計劃，提昇手套城內40%的項目。
（星洲日報／財經）

Global contact lenses demand is expected to reach 1,132 million units by 2020, with an estimated market revenue of USD 12.48 billion in the same year. Growing demand for vision correction products is expected to be the key driving force for the market over the next six years. While spectacles have been used traditionally to compensate for visual inaccuracies, demand for contact lenses as an additional item for vision correction is on the rise. In addition to ensuring correction of ophthalmic disorders such as myopia, hypermetropia and astigmatism, contact lenses can be used for cosmetic purposes to enhance aesthetic appearance. Aging population and increasing incidences of ophthalmic disorders spurred by changes in lifestyle have driven market penetration. Additionally, demand for plano sunglasses has led to need for reduced dependency on spectacles and uptake of contact lenses. However, increasing acceptance of corrective refractive surgeries such as LASIK and PRK may hinder market growth to a certain extent. Failure to follow replacement schedules and lack of proper eye care may lead to conditions such as contact lens-induced acute red eye (CLARE). Compliance with lens care regimen to prevent infections and use of lens care solutions is of crucial importance for contact lens wearers.

“Supermax has established its distribution network globally, and this new business segment will seek to leverage on that and also serve as an alternative revenue stream for the company,” another source added, noting that this business segment is lucrative, with gross profit margins of up to 60%.

below 2.1

Today down

3.71.....

Selling force coming

Need tongkat ali..

I think also very soon.. Strong usd,low rubber latex price will make supermax fly higher

Today 1 usd =3.7...

2010 net profit= 158,000 million, EPS = 47.98 SEN
2014 net profit= 101,000 million, EPS = 14.88 SEN

First quarter 2015 very important, we estimate will bring good news to market..2nd Quarter profit will be better,will go back to 2010 level..

http://www.moneycompass.com.my/%E6%8B%BF%E6%B1%80%E6%96%AF%E9%87%8C%E9%99%88%E7%BE%8E%E7%8E%89%E9%80%9F%E6%9F%8F%E7%8E%9B%E7%9A%84%E6%B8%A9%E6%9F%94%E6%8E%A8%E6%89%8B/

2010年的亮丽水平...RM 4.00-RM7.50...

柏玛今年的业务与赚幅会更稳定，而该公司也会继续推介新产品。

“今年的首季很重要，而我们预计会为市场带来好消息；而次季的盈利预计会更好，并重返2010年的亮丽水平

1 usd=RM 3.68....good for supermax...

拿汀斯里陈美玉,速柏玛的温柔推手

一个企业家的成功，往往让人津津乐道，而许多时候他们都会感谢身后支持的女人，在速柏玛（Supermax）这一个手套制造王国内，拿汀陈美玉已跨越了不仅是默默支持的角色，更是拿督斯里郑金森身旁的温柔推手。

他–郑金森是速柏玛的开拓之手，她–陈美玉就是速柏玛的启航之手。在他点了点下一个拓展之地时，她就是领导集团继续前飞的关键引航者。

陈美玉绝对是个睿智的女企业家，通过她这温柔双手，已让速柏玛继续攀向更高峰，继续启动它的亮丽航程….

两双手拼出手套王国

当年两双手凭著2令吉的资本开创了公司，草创初期适逢大马经济未走出低谷之即，几经辛苦后，终於得到荷兰银行贷出60万令吉开设第一家工厂，并以此基础，一步一脚印，两双手打拼出一个企业来。

当一双手累了，另一双手给了鼓励与扶持，成为了那双手的最大推动力量，他是另一双扶助她的强力之手，而她则是另一双支持他的温柔之手；两双夫妻之手，在创业的路上相互努力，相互扶持，也创出了一个年产170亿个手套的王国。

两双手， 说的就是速柏玛(Supermax)创办人拿督斯里郑金森与拿汀斯里陈美玉的故事，两双手，一个王国，立足在世界的舞台上。


郑金森：她才是真正的CEO

专职于市场开拓的拿督斯里郑金森表示，他的角色就像个猎手，而她的角色就是执行与实践，对太太的身兼多职的胜任有余表示激赏与赞叹，对于陈美玉的专业，郑金森也调侃︰“她才是真正的CEO，而我也是CEO，我是首席娱乐官(Chief Entertainment Officer)。＂

目前，陈美玉除了掌管速柏玛在大马的行政、财务与营运，同时也兼管其六个国际分销网络，即美国、巴西、加拿大、德国、比利时及澳洲。至于现在已有稳定客户群的中国市

场，也会是速柏玛日后或考虑扩充的板块之一，陈美玉认为，鉴于中国市场之大，也是不可忽视的市场。速柏玛旗下两大手套品牌Max t e r及Aurelia的源自于两个孩子的名字，而Aurelia更是美国市场最受欢迎的品牌。女性管理者比男性优越的是其浑然天成的细腻，就连一个装置手套的包装盒也必须有所包装。比起一般的手套包装设计，速柏玛的包装已跳出传统的枯燥单调色彩，而是以多种色彩来表达。“我们是首个介绍彩色盒子的制造商，因通过色彩的确可以在这个严肃的行业中带来欢悦的气氛。＂

秉持四正理念

陈美玉的事业征途可以以一步一脚印，步步皆是用心与实力来形容，为了守

护与鞭策本身的角色，以期做得更好，陈美玉秉持著罡的四正理念，即“心正、身

正、言正、行正＂，进一步迈向“智仁勇＂的智慧人生。“罡字就是以“四正＂为主，要先

当一个仁人的人，才能真正做大事，而必须修正法，也就是修“罡＂，一个人有“罡＂，就能福慧双修！＂四正理念的“心正＂，讲究的是自我修养完善、家庭整顿有序、事业安定繁荣，若心正理正，将有助于万事成真；“身正＂则著重以身作则、一视同仁、严格

要求，所谓攻城为下，攻心为上。至于“言正＂顾名思义即是正面好话、正道言语、直言说实话、句句也都是实言；而“行正＂说的是正直的行为、依轨道顺行，并拥有端正其行为，能行正者，就可让天下太平。笃信四正理念的陈美玉认为， 能有“罡＂就可以获得一个圆满、幸福与道德的人生，心灵富足而能达成六大愿，即大智、大仁、大勇、大慈、大悲、与大愿。＂另外，她也提到“规＂字的理念，

即︰

• 先做好“人＂，就是做好自己的“本分＂，才能成“大＂。

• 天为最“大＂，人站在天地间，也就是能“顶天立地＂。

• 能“顶天立地＂的处事，就能真正的“出人头地＂，也就能成“夫＂，“夫＂是指夫人和丈夫。

• 成“夫＂后，也就是指“夫人和丈夫＂有共同的意“见＂，才能成“规＂。

• 有了“正＂面的“规＂，对个人修为才能“心正理正，万事成真＂。

陈美玉也强调，经营企业是没有绝对无风浪的航行，当中肯定会遇上一些小风浪，关键在于掌舵人必须清楚自已的方向，并向有利于自已的安全方向航行。



成功没有捷径

她强调，目前是全球第二大手套生产商的速柏玛，无意去积极成为第一，反之对现在享有的位置感到舒适。“我们对于现居的位置非常的自在，因这可让我们有更多的空间去寻求创新，

建立更稳定的品牌。我们追求的是长期的成长，而这些成功历程皆是无捷径的。＂

女企业家可与男性平起平坐

在许多夫妻档公司中，往往男性角色会较为主动，而女性则多处于背后的支持者，陈美玉认为，女性应该摆脱处在“男人背后的支持角色＂，反之应极力争取与他们平起平坐。

陈美玉也与本刊分享了一个小故事，去年5月的全球安永企业家晚宴在蒙地卡罗盛大进行，大会在颁奖予大马企业家得主郑金森的同时，也邀请陈美玉上台领奖，而这也是大会首次邀请企业家夫妇上台领奖。

“主办单位邀我上台，是因为他们知道我也是公司的创办人之一，所以在夫妻档的企业中，是绝对可以平起平坐的。＂



相信自已的能力

陈美玉认为，作为女性，应该相信自已，相信自已的能力。“千万不要一直认为女性，就无法与男性企业家抗衡，这种思想价值观应该摒弃，有时候女性企业家做得比男性企业家更好；做生意会遇上不同的对象，银行、供应商、客户，讲究的是诚信，你相信他人的能力，他人也同样的信服于你，并会支持你。＂

在企业的决策上，这对夫妻档也会和其他伙伴一样，有时候会为一些决策而躇踌不前，但最终所作的决定，依然是以集团及员工的利益为前提。她指出，在事业上的诚信度其实与齐家照顾孩子是一样的道理。“家庭价值也讲究信任，如果成员之间的信任感不存在的

话，试问又如何管理一个成员人数更多的企业？当然人非圣贤，孰能无过，最重要的是学习如何原谅。＂

陈美玉也提到， 在犯上错误之后，最重要的是学习改过，并不再重蹈覆

辙， 而她也告诉员工，任何的企业都必须要确保公司的权益获得良好保障。



时间部署在于有效分配

询及事业忙碌的她，如何可均衡地分配时间时，集事业女性及职业妈妈职务于一身的陈美玉则认为，时间的部署在于你如何地去分配，并应了解如何划分应当优先处理的事项。在访问结束的当天晚上，陈美玉就得启程到韩国视察业务，之后再启程至芝加哥，再转程去德国与英国；而同一天，远从美国求学的孩子也在当天早上返马，之后再与父母与姐妹在伦敦会合。

“当孩子假日的时候，这是我们安排会合共度属于一家人的时光，在进行上述地点的业务视察之后，我们会到伦敦度过属于我们一家人的假日，并在当地过圣诞；这就是我们一家争取相处时间的方式，也是我们极为珍惜的相处时光。＂

在华人的传统观念中，子承父业是理所当然的事，许多企业继承人多会在学成之后即返回家族集团著手于接棒的路程，但对于陈美玉而言，她却认为最好先让孩子在外其他公司就业，从中获得不同的企业体验。“如果孩子即刻加入父母的公司，因身份关系或会导致若他犯错时无人勇敢给予指教，这对他们而言不见得是件好事；因此，我时常鼓励孩子去为别人工作，让他们先体验外面的世界。＂

陈美玉眼中的郑金森

在与郑金森共事的这么多年，是工作上的好搭档，也是生活中人羡的好伴侣。在陈美玉眼中，郑金森是个很有冲力，很有远景的企业家。

“早前我们出席了加州安永企业家的一场研讨会，在这个场合上，他是第一个站起举手发言的大马企业家。这是非常难得的，因这也让当场的出席者看到，来自马来西亚的声音，大马企业家在国际舞台上也一样地可发声。＂

在访问的中段，郑金森也逗留片刻，并也为投资者捎来好消息。他表示，基于去年

上半年的商品价格飙升，冲击了速伯玛的业绩表现，但在原产品价格滑落的趋势下，速

柏玛今年的业务与赚幅会更稳定，而该公司也会继续推介新产品。

“今年的首季很重要，而我们预计会为市场带来好消息；而次季的盈利预计会更好，并重返2010年的亮丽水平。＂

传达你所承诺的，承诺你可传达的

“传达你所承诺的，承诺你可传达的＂是陈美玉一直秉持的良好财务管理理念。

在速柏玛这个大企业内，陈美玉是集团的联合创办人兼执行董事，作为速柏玛财务的重要关口把关者，陈美玉一直坚信良好的企业财务管理，是确保公司财务无时刻皆保持在稳固及最佳状态的关键。

她认为，完善及妥当的财务管理，才是确保企业欲直追向上的关键条件；一家企业要追求持续的成长，就应该具备完好架构的财务管理，而企业上下也必须拥有普遍化的乐于分享及共同脑力激荡文化。

具效率的财务管理

“与些同此，有效率的处理现金流动，有效的善用基金，与银行、材料供应商及服务供应商建立信心与信任，在这一环也同等的重要；而建立这些良好关系基础，皆是稳固地打在有效率的财务管理桩子之下。＂

陈美玉回忆到，速柏玛也曾面对财务拮据的时候，而这也是陈美玉与郑金森在创业路程中寻求业务增长的最大难关。90年代初期，也是速柏玛的草创初期，郑金森与陈美玉夫

妇俩以2令吉资本的公司创业，当时，大马的经济并未完全走出低谷，而银行的借贷条件也非常谨慎严苛，最后凭著实力，该公司最终获得荷兰银行60万令吉的贷款设立属于速柏玛的首家工厂。

“当时公司规模仍小，但最后，通过与主要银行及主要材料供应商的强稳关系，让我们有能力克服这个挑战。＂首家厂房的落实，为速柏玛日后的迅速扩张奠定强稳根

基；目前，速柏玛拥有9家厂房，年产170亿个手套。“从一家2令吉资本的公司，发展至今日的规模，我们感到非常地满意，但我们也不会因而停止脚步，我们会继续寻求更

多扩充的空间。＂

（吉隆坡2日訊）速柏瑪（SUPERMX,7106,主板工業產品組）第四季淨利按年跌20%至2千零10萬令吉，拖累全年按年跌16%至1億零80萬令吉，分析員認為2015財政年表現全賴於第十與十一廠房增產是否如期完成，成為盈利推手。
安聯研究認為，全年業績符合預期，上調2015年財測1%；去年第四季淨利下跌主要是新廠建築成本所致，而第十和第十一工廠預期今年首季啟用，將成為主要盈利推動力。
興業研究說，宏觀經濟向好、低乳膠價與天然膠原料價，再獲強勁美元利好，儘管競爭劇烈造成低售價，預期全球手套需求以雙位數成長；管理層專注自動化程序有助改善效能。
“倘若第6058與6059地段的擴展產能，每年約可增60多億手套產能至123億個。根據探查，1月已開始投產。”
興業指出，該公司第四季除受競爭壓低平均售價打擊淨利、廠房恢復生產所需之高成本，全年淨利亦受更高實際稅率干擾，2014財政年實際稅率達22%，相比2013財政年19.7%。
聯昌研究基於成本提高和競爭激烈，將2015和2016年每股盈利下調7至8%。
速柏瑪公佈提議前貿易及工業部長丹斯里拉菲達阿茲為公司執行主席；拉菲達擔任內閣部長28年，2008年起正式離開政壇。
這項和會須在未來的股東特大上獲通過，若獲核准，原任執行主席鄭金森將調職為董事經理

1 usd=3.68.....

Monday T3..

mana pergi Rafidah, Stanley.....

already 9.45...1 lot pun tidak ada

today look like dead water again

force..we all know undervalue..but price don't want to go up.....

Last minute push up