Reason for CIMB share dropped due to Interest rate reduce.
CIMB is the bank which badly affected by reduce in Interest rate...

Banks with low share of fixed-rate loans, including No. 2 bank CIMB Group Holdings, could see their net profit decline as much as 6% while earnings at smaller rival AMMB Holdings could rise up to 2%, according to estimates by AllianceDBS Research analyst Lynette Cheng

http://asia.nikkei.com/Business/AC/Recent-rate-cut-to-pressure-Malaysian-bank-earnings

Read..http://www.theedgeproperty.com.my/content/794154/maybank-reduces-br-and-blr-bnm-cuts-opr

Banks always the winner in the market... Maybank reduced BR and Blr by 0.2 % but interest rate reduce by 0.25 %.

Messrs Crowe Horwath on their intention to resign as Auditors of the Company. This accounting is 5th largest accounting firm in Malaysia.

Any idea why there is sudden changed in Auditor...

If you got extra money for donation, pls look for DPM with slightly lower IQ.
He Wil help u to donate ur money to Philipino or Indon..

www.thestar.com.my/news/nation/2016/06/16/zahid-no-ransom-paid-for-freed-sailors/

Seem like today market could retest its 52 week low or next week @ RM 1.36.

Oil price normally peak during summer time @ mid June then going down till end of year (as per last year trend). with absence of feel good factor from oil price and company fundamental sound not so good. Down trend still intact at this moment..

At this moment, this counter is consider as high risk with low return.. not worth to sailang your money or capital at here..

As per TA report, FY 17 EPS 2 cent , FY 18 EPS 2.7 cent exclude impairment or write off.
At balance sheet, there are 9 bil of goodwill from acquistion could contribute to future write off.
Next year, est 9 rigs could be idle. Asset write off could easily wipe off the tiny earning for next 2 years.

At this moment, nothing great that can excite the share price higher but more risk for going down.
Puting money in Bank FD could generate better return with lower risk.

After review the risk and return, it is not worth to invest this stock at currenr price and there are plenty of good stocks with better return in the market. Abandon the ship at this moment, till i can see some light in the future for this stock. Continue to stay side line for this stock at this moment.. IMO.

FPSO Armada perkasa and Armada perdana deployed at Nigeria..Hope that both are not affected..

Beware someone try to promote EG industries and EG-W here..

Just for your info EG has right issue of 3-2 share at RM 0.5 and free warrant with exercise price RM 0.5 (FOC, no need to buy - current warrant price 0.545) end of last year...Highly diluted EPS once all warrant convert to shares at cheap price RM 0.5.

Those bought last year will earn a lot now, but those bought now, i am not sure..make your own judgement...

The Malaysian Rubber Glove Manufacturers Association (Margma) is optimistic of achieving 11 per cent growth in exports to RM14.5 billion this year as global demand for medical gloves remains firm.

Read More : http://www.nst.com.my/news/2016/05/148654/margma-sees-11pc-export-growth

Ops...Stockdoomsday is a newly created account on 27 may..all his comments are attacked supermx. Seem like that is objective to create this new account...

Supermx-c10 exercise price RM3.17.. so mean next week supermx RM 3.17?
I dont think there is link between target price and call warrant exercise price cause the exercise price range is very big from month to month..cheaper exercise price could be mean higher conversion ratio and higher initial selling price...IMO

everyone responsible for what they did (buy or sell at their own risk, don't blame others), this forum only for sharing info, this is a basis understand as human nature. If you cant understand it, i don't know how to explain to you in human language.

Harta TP given by TA and JP apex.

TA TP: RM3.90 (based on PE 19x on their Forecast earning)
JP Apex RM 4.42 (based on PE 25x on their Forecast earning)

Harta has the highest PE given by IB for glove sector.

Just browsed thru some new Target price for different IB.

TA TP RM 2.40 (based on PE 11 on their Forecast earning)
JP Apex TP RM 2.43 (based on PE 11 on their Forecast earning)
MIDF TP RM 3.21 (based on PE 14 on their Forecast earning)
Affin Hwang TP RM 3.05 (based on PE 13 on their Forecast earning)

Seem like their earning forecast is quite similar, the TP is different by PE

Sector average PE 18.
The rest of glove stocks has higher TP with higher PE. (17-22x)

As usual, there is a "HIV similar type virus" ,non-curable pop up every morning at supermx forum .. it support for AA, EG and Padini but no contribution to this forum except create destruction and keep disturb those interest on it. That why it called as Virus or bacteria.

Ops... USD to RM already 4.14 now.. initially thought it will strengthen with higher oil price... seem like 1MDB issue and increase of US interest rate has higher influence over RM....

MIDF report... In line.... TP remain no change and maintain buy...

INVESTMENT HIGHLIGHTS
• 15MFY16 earnings in line with expectations
• ASPs facing downward pressure
• More production lines yet to start commissioning
• Robust global demand for rubber gloves
• Earnings forecasts unchanged
• Maintain BUY with an unchanged TP of RM3.21

www.bursamarketplace.com/index.php?ch=26&pg=93&ac=27669&bb=research_article_pdf

廠房投運‧速柏瑪展望仍向晴

儘管速柏瑪（SUPERMX，7106，主板工業產品組）的產品平均售價承壓，但隨著廠房陸續投運和恢復運作，MIDF研究仍看好整體業務展望。

點看全文: http://biz.sinchew.com.my/node/137881#ixzz4ACVTVtby

Supermx note from Affin Hwang research this morning...

Quarterly blip

Supermax’s quarterly results missed expectations on ASP decline,
production disruption and higher-than-expected tax charges. The
disappointing results masked operational improvement, as EBITDA
margins grew to 19% on better product mix management and
productivity gains. We remain positive on Supermax’s outlook, as the
commissioning of new plants by 1HCY16 should sustain growth
momentum. Maintain BUY.

Revenue fell short on ASP decline and production disruption
Supermax reported 1QCY16 revenue of RM225m (-23% qoq; +0.8% yoy),
which constitutes only 17% of our full year estimate. Both sales volume
and value contracted for the quarter. As with most glove manufacturers
under our coverage, ASP fell 8-16% qoq across its product range, mainly
attributable to pricing competition and stronger Ringgit for the quarter.
Notwithstanding that, Supermax’s utilisation fell as one of the production
plant in Perak temporary ceased production for upgrading and
maintenance work.

Core net profit missed expectations but operationally improved
1QCY16’s core net profit came in at RM20m (-47% qoq; -18% yoy), which
missed our previous estimates and consensus forecast. The lower
earnings were dragged by significantly higher effective tax rate at 40%
(+22ppts qoq; +27ppts yoy), due to previous under-provisions booked in
current quarter. The disappointing results masked operational improvement
for the quarter, as EBITDA margin expanded to 19% (+1.4ppts qoq;
+3.6ppts yoy). This is highest margin seen in 9 consecutive quarters,
despite higher raw material costs and natural gas hike. We believe the
improvement is likely contributed by the higher nitrile gloves mix, bucking
the trend of margins compression experienced by most glove
manufacturers. Separately, Supermax declared an interim dividend of 2sen
for the quarter, in line with expectations (CY16: 6sen)
Results disappointment a blip

While no doubt 1QCY16 results were disappointing, we reckon that this
should be a temporary blip and we remain cautiously hopeful on its
outlook. Plant #10 & Plant #11 will be fully commissioned by next month,
which should lift Supermax’s total installed capacity to 23bn (+13% yoy).
We also expect the Perak plant to resume production in current quarter.
Operational improvement is commendable, on the back of better product
mix management and productivity gains. Higher nitrile gloves mix should
help sustain EBITDA margins at this level as a cushion against ASP
pressure, in our view.

https://w3einvest.affinhwang.com/news/archive/SUCB%20RN%2020160530%20Affin%20Hwang.pdf

Just give you an idea how easy Supermx can achieve 4.24 cent for next Q as per MIDF forecast.
Report similar quarter result as last Q with normal tax rate exclude provision tax (one time adjustment) - Exclude benefit of weaken RM and resume production for perak plant.

Benefit for next Q

USD to RM as per 30/3 is 3.93
Current USD to RM 4.11
ASP has been adjusted with stronger RM, the RM has been weaken due to chance of increase of interest rate increased.

Resume of Perak plant will increase the revenue and profit incoming Q.

Therefore, next Q earning can easily beat the target set by MIDF...IMO.

Midf Forecast vs Actual

Actual 5 quarters up to now

Rev 1,278,197 k
PBT 185,840k
Net profit 146,614k
PBT margin - 14.5%
Net margin 11.47%
EPS 21.56

6 quarters forecast till June 16

Midf forecast
PBT 231.3 m
Net profit 175.8 m
PBT margin 12.8%
Net margin 9.7%
EPS 25.8

http://klse.i3investor.com/servlets/ptres/35396.jsp

What to looking forward for current Q since most of the negative factors has been factor in at last Q and stock price.

1. Capacity increase for new Nitrile line...
New additional line capacity have not reflected in last quarter.

4 double former lines (1.1b pieces) expected Feb-Mar 2016,
4 double former lines (1.1b pieces) expected April 2016, and
4 double former lines (1.1b pieces) expected by May 2016.

2. Resume of Lahat Ipoh production line with more productive and efficient line..190 mil cap (2.2 bil ) latex glove back to production

3. ASP has bottom and price war is over in Q1'16 and ASP has been increased in Q2'16

4. USD to RM has rebound from 3.9 in Mar to RM 4.09 - could weaken further after yesterday comment , Interest hike for US in June is very likely..

http://in.reuters.com/article/us-usa-fed-yellen-idINKCN0YI1TX

Sell share when all the good factors has been reflected in and buy when worst is over and negative factors has been reflected in share price at the same time good factors surface and stock price not price in yet... Happy Investing... IMO.

Most of the glove stock has double their price after they realize the capacity increased last year except Supermx only adjust from RM 2.00 to RM 2.57 (dropped from RM 3.5) with more capacity realize in 2016.

There is another abnormal event in upgrading Lahat Ipoh which cause reduce in output and capacity loss..

Some info about the old plant at Ipoh, Upgrading the plant to increase automation and reduce labour before the minimum wages take place second half of the year..

http://www.maxwell.my/html/manufacturing.html

Current capacity at Lahat Ipoh latex glove plant - 190 mil per month or 2.2 bil per year,
New Nitrile capacity added at new plant 10 & 11 is 2.2 bil in Quarter sep'15.

This quarter capacity has reduced by around 12% compare to last Q and Flat with last year due to new capacity has offset production loss in Lahat Ipoh plant.. Revenue flat compare to last year.
Compare to last Q , 12 % reduce revenue could be due to lower output with shutdown few line at Lahat plant but 10% reduce revenue due to lower ASP...ASP started to rebound at current Q as reported by Maybank Invest with 5 % MOM in May...

Every year there is provision tax adjustment for around RM 8 mil at quarter end Dec.
This year the tax adjustment has delay to Mar quarter and reduce the net earning by RM 8 mil which translate to 1.17 EPS lower event. Exclude 1.17 cents extra charge this Q, The Earning per share is 4.11 cents...

You can refer to earning report for Dec for the past 2 year to understand this one time adjustment which has reduced the net earning per share to Dec due to high tax adjustment

Hope this help to explain higher profit before tax and lower net profit tax due to delay in reporting of provision tax.. FY End will change from Dec to June, some adjustment for report tax to this Q. IMO.

Harta PE is high, not much room to go for current price. Supermx PE too low, investor keep accumulating at current cheap price cause they know that they are more room to grow why take profit now. IMO.

Today did a half day contra... bought some in the morning at RM 5.44 and sell at RM 5.74 -with 30 cent profit.. Not bad for the Ang pow money...

Iranian oil output recovering as first cargo sold to Europe - See more at:

http://www.themalaysianinsider.com/business/article/iranian-oil-output-recovering-as-first-cargo-sold-to-europe#sthash.OzHdih3u.dpuf

i just read thru this news about the Hartalega..
Net profit rises 25% on year, falls sequentially on foreign exchange loss.
it still registered solid profit grow even at foreign exchange loss at last Q.
Seem like the result without exchange loss even more solid...
No wonder EPF keep accumulating this share...

http://asia.nikkei.com/Business/AC/Net-profit-rises-25-on-year-falls-sequentially-on-foreign-exchange-loss

OTB earn money from teach fengsui not buy share.. like zbaikitree2 paid 9600 to learn fengsui..

http://www.nanyang.com/node/745760?tid=462

Support @ RM 6.10

i paid zero to learn feng sui from internet.. save the money to invest at stock to earn more money...

Seem like a quite no. of fortune tellers over here to advise how much share price will drop and target price...not sure base on what basis....

Information sharing from internet website, some cut and paste from other page.......respective investors will make their own decision buy or sell at their own risk....You don't need to tell them buy or sell.... they will make their own decision or own judgement at their own risk....

Only those waiting to buy will call for sell...IMO.

Could be tabung haji selling some of topglove shares to pay bonus after warning from bank negara...anywhere amount of share own by tabung haji is not a lot 1 mil + before bonus share.

Technically, this stock is oversold due to bad market sentiment not due to fundamental changed.IMO

Fyi.

Hard logs price commodity in USD. On upward trend for current quarter..

Jul 2015 USD241.27
Aug 2015 USD 241.70
Sep 2015 USD 247.78
Oct 2015 USD 248.08

Amazing for CPO palm oil price today

Jan15 up RM 66 to RM 2357
Feb15 up RM 69 to RM 2436

Last Friday soy oil up more than 4 % and drove CPO price higher today...

Last Q1'16average cpo price for Jtiasa is RM 2028 only..
Looking forward for better earning contribution from palm oil business..

Log price is up... USD to RM is still strong. CPO price continue up. soybean oil continue going up....AMMB suddenly upgrade the target price from RM1.18 to RM1.96 on 27/11/2015... it is ok to buy and hold till next quarter...

Strong EL nino coming soon.This El Nino will probably rank among the three strongest since 1950...do prepare for it...

http://www.bloomberg.com/news/articles/2015-11-27/palm-oil-seen-facing-powerful-cocktail-of-el-nino-fuel-demand

seem like after briefing of quarterly result with explanation, there is few one off charges in 9MFY15 which reduce core profit. profit margin still remain healthy exclude the once off charges..

" At the briefing, we understand that there were a couple of one-off items that weighed down its reported earnings for the 9MFY15 period. These items were: (i) a RM10mil tax audit charge; (ii) RM10mil in legal charges for its arbitration case (Meydan Racecourse); and (iii) ~RM32mil in provisions for the new Ministry of Interior (MOI) headquarters project in Qatar. "

There is still one more RAPID project worth RM 300- 400 mil to be announced in end 2015.

The main reason for no surprise could be due to lower log sales.

Lower revenue was resulted from:-
43% and 11% decrease in log and plywood sales volume respectively.

Great improvement for palm oil business ...
Volume for CPO up 46% but sales volume only up 23%. May be the extra sales transfer to following Quarter at better sale price than Q1'16. Palm oil business is profitable in Q1'16 compare 3 Q consecutive loss in FY15. Recovery of FFB volume and even though with lower sales price but still manage to turn to profit for this Q.(Q4'15 - oil palm business loss RM 10.76 mil) Q1'16 palm oil business profit RM 2.36 mil. CPO price has been recovered from RM 1800+ MT in Aug'15 to RM 2200 + MT in Oct'15. CPO price uptrend in 2016 still intact.

RM is weaker in current quarter Q2'16 than previous quarter, once the log sales pick up in current quarter and we should expect better result in current quarter.

Revenue, RM k Profit/loss, RM k
Logs business RM62,802 RM25,089
Wood processing RM95,693 RM12,665
oil palm business RM89,114 RM2,360
Others business RM 15 RM875
admin and overhead -RM8,387

Profit before Tax RM32,602



Looking forward for better earning in coming quarter for both timber and palm oil business...

Just browsed through Genting Plantation quarterly results. Malaysia plantation quarterly revenue - RM 217 mil and EBITDA RM 78.5 mil. Palm oil estate area in Malaysia - > 66,000 ha oil palm tree at Prime mature stage.

JayaTiasa Palm oil planted area : 68,446 ha 40% (30 June 2015) prime mature stage...
June 2016 - prime mature stage 55%
June 2017 - prime mature stage 65%
June 2018 - prime mature stage 76%

palm oil business contribution to Jayatiasa will be quite significant in future couple will palm oil price recover due to EL Nino for the next 2 years...

CPO expected to trade up to RM3,000 a tonne next year...Let see..

http://www.dailyexpress.com.my/news.cfm?NewsID=104717

Jayatiasa

FFB output Q1'16 (July-Sep'15)
Q to Q + 42.13% Y to Y 9.2%

Logs output Q1'16
Q to Q + 2.16% Y to Y -22.3%

Palm Kernel Q1'16
Q to Q + 65.51 % Y to Y +10.2%

Crude Palm oil Q1'16
Q to Q + 48.21% Y to Y +16.5%

Higher volume mean lower COP due to economic of scale...Significant volume improvement from Q to Q for palm oil production.

Jayatiasa

Output Q4'15 (MT) Q1'16 (MT) Q to Q(MT) Q to Q (%)
Palm oil 193,063 274,400 + 81,337 + 42.13%
Log 190,348 194,459 + 4,111 +2.16%
Palm Kernel 3,120 5,164 + 2,044 +65.51%
crude Palm oil 21,577 31,980 +10,403 +48.21%

Some output data latest Quarter compare to previous quarter... I believe the latest Quarter result should be much better than last announced quarterly result... IMO.

Technically, this stock should be doing well till end Nov, fundamentally, its valuation compare to its price is very cheap... my remiser ask me to buy and hold it..

Will the Jayatiasa doing good as TAAN on last quarter ...Let see the coming result announcement..

TAAN - MONTHLY PRODUCTION FIGURES (PLANTATION / TIMBER)

Q3
July'15
Log - 48,112 cubic metres
Fresh Fruit Bunches - 59,606 metric tonnes
Crude Palm Oil - 15,869 metric tonnes
Palm Kernel - 3,089 metric tonnes

Aug'15
Log - 41,291 cubic metres
Fresh Fruit Bunches - 66,715 metric tonnes
Crude Palm Oil - 18,433 metric tonnes
Palm Kernel - 3,744 metric tonnes

Sep'15

Log - 41,339 cubic metres
Fresh Fruit Bunches - 66,704 metric tonnes
Crude Palm Oil - 19,062 metric tonnes
Palm Kernel - 4,070 metric tonnes

Jayatiasa - MONTHLY PRODUCTION FIGURES (PLANTATION / TIMBER)

Q3
July'15
Logs - 55,077 cubic metres.
Fresh Fruit Bunches - 81,659 metric tonnes.
Crude Palm Oil - 8,576 metric tonnes.
Palm Kernel - 1,434 metric tonnes.

Aug'15
Log - 77,218 cubic metres
Fresh Fruit Bunches - 95,968 metric tonnes
Crude Palm Oil - 11,341 metric tonnes
Palm Kemel - 1,806 metric tonnes

Sep’15

Log - 62,164 cubic metres
Fresh Fruit Bunches - 96,925 metric tonnes
Crude Palm Oil - 12,063 metric tonnes
Palm Kemel - 1,924 metric tonnes