The name public is just a name, not everything with a “public” will be related to public bank or public mutual or uncle teh kehh. If not all “public” toilet also under public bank kah?

Those three
public Small Cap Fund
public Strategic Small Cap Fund
public select Islamic treasure fund

Are under AMANAH RAYA BERHAD, NOT Public mutual berhad

Dog and donkey are not the same even though they start with “do”

But there is not a single public mutual fund in the TSH top 30 shareholders.

TSH Top30 Shareholders
1. RHB Capital Nominees (Tempatan) Sdn. Bhd.
Pledged securities account for Tan Aik Pen
139,396,991 10.10
2. Alliancegroup Nominees (Tempatan) Sdn. Bhd.
Pledged securities account for Tan Aik Pen
73,944,824 5.36
3. Embun Yakin Sdn. Bhd. 67,403,359 4.88
4. Tan Aik Kiong 55,284,987 4.01
5. Maybank Nominees (Tempatan) Sdn. Bhd.
Tan Aik Yong
53,949,717 3.91
6. Tan Aik Sim 53,371,564 3.87
7. Cartaban Nominees (Asing) Sdn. Bhd.
Exempt an for LGT Bank AG (Foreign)
47,921,981 3.47
8. Citigroup Nominees (Asing) Sdn. Bhd.
Exempt An for UBS AG Singapore (Foreign)
47,409,862 3.44
9. Citigroup Nominees (Tempatan) Sdn. Bhd.
Employees Provident Fund Board
44,671,148 3.24
10. Maybank Nominees (Asing) Sdn. Bhd.
Walton Private Investment Limited
38,483,958 2.79
11. Lembaga Tabung Haji 37,789,300 2.74
12. Tan Ah Seng 36,654,089 2.66
13. Tan Ek Huat 35,934,718 2.60
14. Amsec Nominees (Tempatan) Sdn. Bhd.
Pledged securities account – Ambank (M) Berhad for Tan Aik Pen
34,013,279 2.46
15. Tan Aik Choon 29,212,658 2.12
16. Citigroup Nominees (Asing) Sdn Bhd UBS AG 29,041,900 2.10
17. Maybank Nominees (Asing) Sdn. Bhd. L&P Bakri Inc. 28,117,200 2.04
18. UOB Kay Hian Nominees (Asing) Sdn. Bhd.
Exempt an for UOB Kay Hian Pte Ltd
26,595,358 1.93
19. Tan Aik Hwa 23,441,139 1.70
20. Tan Soon Hong 22,914,835 1.66
21. Tunas Lestari Sdn. Bhd. 16,171,300 1.17
22 Amanahraya Trustees Berhad
Public Strategic Smallcap Fund
13,000,000 0.94
23. Teo Han Ching @ Teo Jin Hwa 11,805,000 0.86
24. Amanahraya Trustees Berhad
Public Smallcap Fund
10,138,250 0.73
25. Tan Aik Hwa 9,609,000 0.70
26. Amanahraya Trustees Berhad
Public Islamic Select Treasures Fund
8,975,200 0.65
27. Tan Aik Yong 8,905,000 0.65
28. HSBC Nominees (Asing) Sdn. Bhd.
J.P. Morgan Securities PLC
8,541,000 0.62
29. Tan Aik Pen 7,800,000 0.57
30. Amsec Nominees (Tempatan) Sdn. Bhd.
Ambank (M) Berhad (Hedging)
7,280,600 0.53

So you meant these three (Amanahraya Trustees Berhad Public Strategic Smallcap Fund, Amanahraya Trustees Berhad Public Smallcap Fund, Amanahraya Trustees Berhad Public Islamic Select Treasures Fund) are from public mutual because of its "Public" name there ??!?!?!?

Please don't simply use uncle Teh name la, later he comes find you at night

Correct me if I am wrong, since it's an opportunity loss, isn't it should be 20.85-12(since it is sold at this price) = 8.85 (opportunity loss). So the refined margin derivatives loss 10.6*25%*USD8.85*RM4.40 = 103.2M ?

top glove took 1 year to resolve the forced labor issue, and after ATAims able to solve it, Dyson already gone, and those machinese and raw materials what they are going to use to make into?

Vietnam is a developing country that needs the cheapest energy to push forward, you ask them to use clean energy is like asking a grab rider to go for tesla car for food delivery since EV is more environmental friendly than motorcycle.

https://www.fitchratings.com/research/corporate-finance/indonesia-export-levy-revision-to-pressure-crude-palm-oil-prices-01-07-2021

Indonesia cut duty from USD255/tons to USD175/tons effective 2nd July 2021. I think this has postive impacts on TSH next quarter since it paid almost 72m duty last quarter. Will at least save 30% on duty qoq that will improve their profit at least 21m minimum in coming quarter i guess.

http://www.customs.gov.my/en/pg/Pages/pg_pwt.aspx sabah and sarawak 1.5% for RM3000 above per tonne, so selling RM4000 you just pay the wind fall tax RM 15 ?? peanuts compare to corporate tax

Macquarie report said Topglove 2021 profit will be around 10b and the PER will be 4.2 for FY21 with TP 5.4 in 3rd page. What are they smoking ? :)

I believe glove run is over not when vaccine is out, but when WHO declares the covid-19 pandemic is over. Why? Because during the covid 19 pandemic and economy restarts in the developed countries, due to SOP, many workers that have contacts with customers need to wear gloves such as F&B, retails, etc. In Malaysia, those international brand names like McDonald and Genting casino, their workers that have contacts with customer needs to wear gloves.
So if 300m of employees in developed countries such as Europe, US, Japan Korea need to wear gloves, it's 600m gloves usage a day. What if they go take a break like peeing, of course they need to take out the gloves and then wear a new pair again. Even the gloves sold for USD200/1k, it's still peanuts to those developed countries employers compared to their other costs. Thats why nitrile gloves have the highest demand because they are comfortable to wear compared to the itchy latex and have better protection compared to the vinyl. But most people just think gloves are for medical personals but the demand for it has been gone to other industries due to the pandemic.

Stanley Thai insider trading case is old news. He already stepped down from Supermax board almost 2 years ago after the 5 years sentence. He hasnt been managing day to day operation in supermax for quite some time and everything is handled by his daughter.

@yttihs Please add me to the group thank you

Many people said if OBM is so good why supermax never make good money all this while compare to the other 3 big brothers?
To me, during normal time, when the supply>demand, then supermax need to pay all the fix cost in their distribution chain like rental for their warehouse in foreign countries, salaries etc, that will eat into their margin since they are not a big distributor compared to others. Other distributors also supply many other medical stuffs other than gloves, so they are the experts and big volume players in the field hence can make more profit than supermax in normal time.
People said it's fishy for supermax to make more money as OBM player, hopefully Monday can change your opinion.

mind to share his fb profile ah, i curious to see his face hahahaha

1 vaccine approved? Yes. But this vaccine is for limited military use by ConSina in China, in which it says will have severe side effects, so it's not for the masses. Please read the news properly and don't just spread half cook news la

From this https://importkey.com/i/supermax-healthcare-inc

Supermax shipped 2,708,259 kg of gloves to US from Apr to June 2020, compared to 1,352,843 kg in 2019 same period, a whopping 100% quantity increase YoY. Last year price was 20-23USD/1k, April to June around 100USD average.

I think the coming quarter should be crazy, just hold tight

I think if somebody spend many hours a day talking nonsense in a forum, he should just go out get a life or dirt poor to do anything else. May be you can give us your bank account here and those supermax big earners can donate a bit money to you to get a life. A charitable way to help you

If you present the Bio contract to DS stanley now, he will throw 21m at your face and get lost

Bio said the profit margin for the deal is 3-5% and not 15% ROI. so the max they can get is 21m/year and the EPS will be 1.5 cents/share for 5 years. So at 0.31 it's 20.6 PE

Now government giving so much money, I feel in the coming budget may be those sin tax related companies like gambling and alcohol will kena cut big

Inari RF segmat is excellence, most testers are running. The problem is their opto segment for Osram, not up to expectation, thats why the result keeps dropping

May be due to the covid-19, the construction works of power plant is delayed to end of year for COD, so they need extra money to cover the overhead, rental of machinery etc that was already budgeted before that, just my thinking.

From CIMB Report

Supermax Corp
Inputting higher ASP increases
■ We turn more bullish on SUCB’s earnings prospects as we expect its more
aggressive ASP increases ahead to lead to stronger margin expansion.
■ Given an order lead time of 10 months, SUCB is confident of pushing higher
ASPs given the current favourable supply-demand dynamics in glove sector.
■ Reiterate Add, with higher TP of RM5.10 (24.5x CY21F P/E).
Expecting more aggressive ASP hikes by SUCB
We gather that Supermax (SUCB) is taking a more aggressive stance in raising its
average selling prices (ASPs) from Jun-2020 onwards (rise of 10-15% monthly). Note
that this is post raising its ASPs by at least 25-30% mom in Apr-2020 (vs. 5-10% by its
peers during the same period) on the back of the favourable supply-demand dynamics in
the glove sector (due to impact of Covid-19). We gather that SUCB’s current order lead
time has further extended to 10-12 months (vs. our assumption of eight months
previously) which gives SUCB a longer orderbook visibility of up to May-Jun 2021F.
Manufacturing cum distribution business shines in this situation
As 50% of its gloves are sold under original brand manufacturing (OBM), via its own
distribution centres in seven countries (including UK, the US and Europe), we believe
SUCB can record higher ASP increases than its peers. This is given that OBM gloves are
sold to end-customers directly (bypassing third-party distributors) at distributor prices vs.
factory prices. Note that the bulk of SUCB’s peers merely function as OEM suppliers.
Allocating certain capacity for ad-hoc orders, for better margins
We gather that SUCB has been receiving more ad-hoc orders (15-20% of total glove
sales) from non-government and government organisations. These orders typically have
higher selling prices (premium of >30%) vs. recurring orders, resulting in higher margins
for SUCB. In our view, SUCB is able to cater to these additional orders as it has earlier
allocated some capacity for this purpose (running at 85-90% utilisation rate vs. peers' 95-
100%) by not fully locking-in its capacity for existing customers.
Raising our FY20-22F EPS by 33.8-59.9%
We raise our FY20-22F EPS by 33.8-59.9%, on the back of: 1) sharper surge in glove
sales, 2) stronger-than-expected rise in ASPs, and 3) better profit margins from higher
economies of scale and lower raw material prices (we estimate that nitrile butadiene and
natural latex prices have declined 14% and 7% YTD, respectively). We have summarised
key changes to our assumptions in Fig 2 and 3 (Page 2).
Maintain Add, with a higher TP of RM5.10
Following our EPS hike, our TP rises to RM5.10, still based on 24.5x CY21F P/E (30%
discount to weighted average CY21F P/E of Malaysia glove sector ex. SUCB). Our Add
call is retained. In our view, SUCB continues to be a laggard play in the glove sector, as it
is trading at a 47.8% discount to the Malaysian glove sector average CY21F P/E of 35.7x
while it has the highest 3-year EPS CAGR of 19.6x (vs. sector average of 14.2%).
SOURCES: CGS-CIMB RESEARCH, COMPANY REPORTS
Malaysia
ADD (no change)
Consensus ratings*: Buy 7 Hold 2 Sell 0
Current price: RM3.87
Target price: RM5.10
Previous target: RM3.48
Up/downside: 31.8%
CGS-CIMB / Consensus: 90.9%
Reuters: SUPM.KL
Bloomberg: SUCB MK
Market cap: US$1,152m
RM4,998m
Average daily turnover: US$8.86m
RM38.17m
Current shares o/s: 1,360m
Free float: 62.5%
*Source: Bloomberg
Key changes in this note
FY20-22F EPS raised by 33.8-59.9%.
Source: Bloomberg
Price performance 1M 3M 12M
Absolute (%) 122.4 127.6 161.5
Relative (%) 120.5 137.1 174.1
Major shareholders % held
Dato' Seri Thai Kim Sim, Stanley 20.7
Datin Seri Tan Bee Geok, Cheryl 15.3
Amanah Saham Nasional 1.5
Insert
Analyst(s)
Walter AW
T (60) 3 2261 9093
E walter.aw@cgs-cimb.com
Financial Summary Jun-18A Jun-19A Jun-20F Jun-21F Jun-22F
Revenue (RMm) 1,304 1,489 2,048 2,526 2,673
Operating EBITDA (RMm) 211.7 230.6 363.2 513.4 479.2
Net Profit (RMm) 106.7 123.8 201.6 300.3 265.9
Core EPS (RM) 0.08 0.09 0.15 0.22 0.20
Core EPS Growth 58.7% 9.9% 72.0% 49.0% (11.5%)
FD Core P/E (x) 49.36 44.90 26.11 17.53 19.80
DPS (RM) 0.040 0.039 0.067 0.099 0.088
Dividend Yield 1.03% 1.00% 1.72% 2.57% 2.27%
EV/EBITDA (x) 25.36 22.90 15.15 10.92 11.85
P/FCFE (x) 32.1 77.1 116.1 45.9 38.0
Net Gearing 28.5% 19.4% 35.6% 38.4% 38.8%
P/BV (x) 5.20 4.67 4.25 3.75 3.40
ROE 10.3% 11.0% 17.1% 22.7% 18.0%
% Change In Core EPS Estimates 33.8% 59.9% 34.0%

CGS-CIMB/Consensus EPS (x) 1.47 1.81 1.46

https://ivl.listedcompany.com/misc/ar/ivl-ar2019-en-02.pdf

From Indorama 2019 annual report, the group consolidated revenue for 2018 was more or less 10.8B, 2019 was 11.3B, and the thomasnet said it based the report on Nitrile Gloves Industry 2019 Global Market research report, so may be based on 2018 revenue and hence it included the whole indorama revenue to come out with YTY 10.8b sales

Hartalega is the biggest nitrile producer in the world almost 44.6B gloves in 2020. They have one of the best profit margin in the industry and their revenue is still far less than a billion.

http://www.indorama.com/affiliated-companies/yty-industry-holdings

YTY Group Sdn. Bhd. is under Indorama, and from its website, YTY capacity only 17B glove per annum, compared to Topglove 73.8B glove per annum. So your 10.8B worth of company you add indorama inside as well? Indorama got so many diversified business. So to take over the whole world supply ?? I really don't know what you are smoking

HDD has a surge in demand when cloud computing and storage was first introduced and on the rise few years ago. Nowadays cloud storage almost saturate, and most consumer products will not use HDD anymore, mostly replace it with SSD.

Yes agreed, many people like cleaners cashier airport enforcers etc will need to wear gloves that normally will not wear it if this pandemic not around. That will only add to the usage per day. So a 100k cases a day will add like 20x-30x demand of glove, its multiplicative effect, not additive effect anymore.

Why the west use so much glove when this pandemic comes? Because in 100k cases a day, all the medical practitioners need to wear gloves, if the doctors or nurses touch patient A and go to touch patient B, they will dispose the previous one and change to new one to avoid cross contamination on patients. So it doesnt mean the medical staff wear a pair of gloves for whole day, but they will dispose and wear new one multiple times if they need to treat multiple patients. Other PPE like masks face shield you can wear whole day because you dont touch the patients with those things, and people touch others only through hands, thats why gloves are selling like hot cakes there. If the pandemic only happends in the East, may be they wont use so many gloves, but to the west, 1 pair of glove costs how much? compared to their life?

Malaysia cases wont affect supermax sales at all. Decrease in cases in Malaysia actually good, so other factories can be opened soon full max capacity like paper box factory. Now they short of paper box to pack the gloves

The recent ASP increases around 3% is actually quite good for low profit margin company like supermx compared to the other 3 big brothers. If price increases 3% and everything stay the same, supermx profit almost increases 1/3 by referring to last q result
Last year AGM said the utilization rate is 75% and now going 95% will be another huge boost on revenue as well.

from the AR, it seems not many local institution like EPF holding any supermx shares, may be due to its boss comments last time. Many foreign institutions are holding the shares, and they are running away from the country, thats why may be supermx price is depressed

https://www.flickr.com/photos/huislaw/sets/72157640776462653

Star tower almost completed but the rest will go till next year

Can some sifus enlighten me about the bank guarantee? Since the court case is postponed again to november, and what if JAKS can pass over the star tower before November, does the company still need to pay the bank guarantee? I googled and it says bank guarantee on construction is mainly to protect the owner that he can find somebody to continue to finish the construction if the contractor goes kabut

Googled on some old news, from the star, the IRR for direct nego IPP in malaysia is in the high single digit range, so should be less than 10%, and only those old power concession can get a higher IRR of more than 10% like what YTL enjoyed.
So I guess those people in the power industry before know pretty well the IRR from jaks power plant is pretty good, and those outsiders just speculate and cook on whatever stories that shiok sendiri.
内行看门道， 外行看热闹

Somebody do some research and calculation of IRR on nuclear wind coal power plant
www.ekoenergo.fi/page27.php
nuclear 13%, coal 5.6-8.3%, wind 7.6-8.8%, gas 8.9%, solar I heard average 4.75%
So if JAKS can get a 12% IRR from its coal power plant, it's above the average of other coal power plant and should be very good

Can anyone explain, how come in the 4Q17 the disposal of land and property of 88m is put into the cash flow from operating activities and hence can get a 88m from operating income in the income statement, but in 2Q18 they put a 94.5m of disposal of land into the investing activities column in the cash flow so that it won't reflect in the income statement. There is also a 50m deducted for bank balance held as security values, will it relate anyway to the bank guarantee?

I have read many posts by Sslee, I think he is a decent man with a good soul. By reading carefully on his letter to uncle koon few times, I doubt he is trying to attack the old man in any way. I feel his good intention has been misread and misunderstood, but anyway, life goes on and even though you are not as rich as somebody here, but the good deeds you have done stand tall in front of our creator

We already pay tax to the government in terms of stamp duty when we buy or sell the stock.

For uncle koon, instead of pleading through the internet and making some people life more exciting in the forum (knowing your adversary), may be you should file a police report on your case and complain to the MACC and bank negara for the abuse of power from the Ipoh IRB and previous AG. By ikut undang-undang, I think your case will be surely expedited by the current government seeing how fast they can act on many issues. Seeing the previous AG will not resign voluntarily, may be your complain can cause a snowball for the current government to start the charges against him.

I hope the current government can know his case, why not expedite on the case, if any wrong doing, slap him the tax charges, 25% of his 0.5B earning from stock is almost 125m, very good for the government coffer, can help pay the 1MDB interest as well, if not, just leave the old man alone

i am referring to the BN government read carefully. BN government sent the tax man to check him, not harapan

For previous BN government, I don't think they will drag so long like just freezing his bank account, cutting his margin if they can find any wrong doing. You know how fast our LHDN can act.
JASA and other special branch will surely find a way to pin him down, slap him with big tax fine and put him into jail for what he has insulted their beloved pay masters if they can find he is guilty.
They sent the tax man to check his house, and the final result is just freeze his maybank and cut his margin, to me sound like cut the raw pig meat, just like LGE bungalow case.

There is a difference between investor and trader, does uncle koon short the stock and earn the money or buy and sell in short term to get the quick cash, that should be considered trading and need to submit for tax. As far as I know, the money he earned is capital appreciation, and that is not required to submit for income tax. In Malaysia, I think only property kept less than 5 years is taxed for capital gain tax, but not stocks. But who knows, last time I heard PH will implement the capital gain tax on stocks as well, since we are one of the country that is lucky enough to not paying capital gain tax on stocks yet.

I think he forgot the power of PAS and the support for PAS has crept slowly into the poorer states in peninsula Malaysia. Few state seats in Perak won by BN have a marginal call between BN and PAS as well.
Somemore kyy is no god, he can speak of his opinion and like everyone opinion, sometimes can be right sometimes can become wrong, get over it and life goes on

contesting in kepala batas is reezal merican bin naina merican, i think abang beradik, not razali himself

i think the ang brothers dont have much cash to buy more shares, only use the ESOS to get as much as they can.

HY havent paid any tax for the last few quarters, when they start to pay the tax, then 24% will be taken out from the profit in future quarters soon

Compare to Harta and Topglove, salary for executive directors in supermax are very high lei, Stanley Thai almost get 11.5m and his wife 9.4m. The highest salary for executive director for Harta is only 1.8m and topglov 3m. Can someone attending the AGM tiu them for sucking for much salary and delivery loussy result ?

Yes, stanley thai openly said he supported pakatan rakyat last time, and worse still, when the reporter asked him whether he was not afraid the government will take action on his company due to his allegiance on this, he said he was not worry at all because most of his products are exported related.
But the shit really hits the fans, LHDN checked on his company, and I don't think his company share price is not affected also

However, looking at JAKS as a company that previously only handled government project, and just like many government related entities that got the tidak apa and no sense of urgency culture in doing their work, we can see their progress on their private project in property development and vietnam project is not very good. LDA incurred from their property development and the deferred revenue from their vietnam power plant in Q42016 show that their project management is very poor in completing them on time or even ahead of time