good good

good good

green day good

smart money flow out opcom flow in redtone

gloves laosai...

Recent sharp increase in infection rates onshore may require longer-than-expected restrictions to flatten the curve.With the next BNM policy meeting likely to be only in January 2021, expect the central bank to provide additional monetary support now rather than later

Alliance Bank group chief executive officer (CEO) Joel Kornreich said the success of this transaction reflects investors’ confidence in the bank’s financial strength and long-term prospects.
We are pleased that they recognise the bank’s efforts in helping our customers weather the current pandemic while keeping the bank safe.Meanwhile, Alliance Investment Bank CEO Michael Ng said the transaction demonstrated the resilience of the Malaysian debt capital market, which remains a viable option for companies to diversify funding sources. While investors remain selective, there is currently ample liquidity available and investors are looking for bonds or sukuk with strong credit ratings to stabilise portfolio returns,

Alliance Bank has the option to redeem the Sub-MTNs five years before the stated maturities,” it said, adding that it has RM1.2 billion existing Sub-MTNs, namely tranches of RM900 million and RM300 million, callable on Oct 27 and Dec 18 this year respectively.
During the book-building exercise, only RM900 million Sub-MTNs were offered initially to investors to replace the Sub-MTNs that were callable this month.
Due to overwhelming demand from investors with more than two times book cover, the bank decided to upsize the offerings, bringing the total issue to RM1.2 billion in a single tap.
The auction closed with the Sub-MTNs priced competitively between 3.60% per annum and 4.05% per annum

the bank said the Sub-MTNs had been issued in three tranches with maturity tenure of between 10 and 15 years.

Alliance Bank Malaysia Bhd has successfully issued RM1.2 billion Basel III-compliant Tier 2 Subordinated Medium Term Notes (Sub-MTNs) under its existing RM2 billion Sub-MTN programme.

The OPR currently stands at 1.75% after the central bank slashed the key interest rate four consecutive times this year, kicking off with the two 25 bps reductions at the January and March meetings, followed by a 50 bps cut in May and another 25 bps cut in July.

upcoming US election, growth and inflation should be the primary considerations for monetary policy.Overall, in its view, the decision is likely to be a close one, depending on whether BNM wants to be pre-emptive.

expects Bank Negara Malaysia (BNM) to cut the overnight policy rate (OPR) by another 25 basis points (bps) in the upcoming Monetary Policy Committee (MPC) meeting scheduled on Nov 3.

today that the imposition of the latest Conditional Movement Control Order (CMCO) might require renewed focus on growth support amid a sharp resurgence of Covid-19 infections in the country.It also said the latest extension of the CMCO to Nov 9 might threaten the lower bound of the government’s 2020 Gross Domestic Product (GDP) growth forecast of -3.5% to -5.5%.This may provide an anchor for BNM’s decision on Nov 3

further rate cuts might not boost investment activity at this time but a lower interest rate would help to lower financing costs and provide a bit more cash buffer for households.The bank said another risk to its OPR forecast was concerns over foreign exchange stability.

Another 25 bps OPR cut likely at next MPC meeting

Music still loud at the glove makers' party
KUALA LUMPUR (Oct 21): The craze for rubber glove stocks has yet to dissipate. The evidence of it is that the big four glove makers, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd, are among the top 30 largest stocks in terms of market capitalisation on Bursa Malaysia.
The big four rubber glove counters, collectively, have gained some RM147.42 billion worth of market cap. This is equivalent to 36% of the total market cap increase from all the stocks listed on Bursa Malaysia.
The surge in demand for rubber gloves as a result of the Covid-19 pandemic has translated into exorbitant gains. Never before have glove makers made that much profit.
The glove makers succumbed to heavy selldown in August and the first half of September. Just when some quarters thought that the party was over, their share prices just rebounded and recouped most losses.
The world's largest rubber glove manufacturer Top Glove is now just 34 sen or RM2.76 billion market cap short of becoming the largest counter in Malaysia, based on the closing price on Oct 19.
Top Glove soared 409% to RM9.60 yesterday, valuing the company at RM78.17 billion, while Hartalega surged by 210% to settle at RM19, bringing its market cap to RM65.12 billion.
Supermax seems to be winning the race among the four. Its share price leapt more than 14 times, or 1,336%, to close at RM10.70, while Kossan has climbed 248% at RM8.13.
Both Supermax and Kossan joined the ranks of being the top 30 largest counters on Bursa in July. As a result, Maybank IB Research analyst Wong Chew Hann anticipates that the duo may become the 30-component stocks after the review in November or December, should their current rankings sustain.
Supermax is now the 16th largest counter on Bursa with a market cap of RM27.49 billion, from 124th at the start of this year, while Kossan (valued at RM20.8 billion) has climbed to the 23rd spot from the 62nd.
Among the smaller rubber glove makers, namely Comfort Gloves Bhd, Rubberex Corp (M) Bhd and Careplus Group Bhd, have also enjoyed astronomical gains.
Over the seven-month period, Comfort Gloves grew 677% to RM5.08 (valued at RM2.96 billion), while Rubberex jumped 1,223% to RM2.95 (valued at RM2.36 billion) and Careplus surged 1,880% to RM4.04 (valued at RM2.18 billion).
As their share prices have jumped multiple folds, these three rubber glove makers are now valued at more than RM2 billion. This is in contrast with their market cap of between RM100 million and RM361 million during the March equity rout.

list with related ventures include Bintai Kinden Corp Bhd (up 1,038%) and Ho Wah Genting Bhd (up 994%), both of which announced vaccine-related ventures, and MQ Technology Bhd (up 900%), which announced a venture into the manufacturing of PPE.

Ancom Logistics Bhd has also stepped into the limelight, amid news that integrated security IT solutions provider S5 Holdings Inc is seeking a back-door listing via the company.The parties involved in the proposal entered into a heads of agreement in July. Although there have not been any updates since, Ancom Logistics' share price skyrocketed 1,129% to 43 sen as at Oct 19 over seven months from the low of 3.5 sen on March 18.

a number of gainers in this category saw gains after announcing healthcare-related ventures this year, including bus operator GETS Global Bhd (up 1,400%), which announced a rubber glove venture, Solution Group Bhd (up 1,380%), which announced a vaccine venture, as well as LKL International Bhd (up 1,060%), which was awarded a glove supply contract by a China-based company.

smaller cap stocks, the top gainers include travel agency company Parlo Bhd, which in September signed an agreement with Myanmar's Diamond Palace Group of Companies Ltd and Agensi Pekerjaan Seaview Hectare Sdn Bhd to provide employment agency-related services.
While it has yet to see the earnings contribution from the new business, the counter surged 1,229% to 46.5 sen as at Oct 19, against its March 18 closing of 3.5 sen. The company's market capitalisation multiplied to RM169.28 million from RM10.92 million during the period.

Luxchem Corp Bhd (up 172% to 94.5 sen) that supplies chemicals to glove manufacturers.

frozen food maker Kawan Food Bhd (up 181% to RM2.63)

technology firm JF Technology Bhd (up 232% to RM4.19) that gained from the rally in the technology sector

Thermoformed food plastic packaging supplier SCGM Bhd, which diversified into personal protective equipment (PPE) manufacturing in March, is also among the top gainers in this list as it saw its share price grow 3.7 times (up 277%) to RM3.31.

Iris Corp Bhd is also one of the top gainers for being one of the bidders for the government's billion-ringgit National Integrated Immigration System project and it is said to be one of the front runners. Its shares were up 279% to 26.5 sen, from seven sen on March 18.

Of the 74 companies under this category, 22 of them have registered more than 100% growth in their share prices since March 18. A total of RM17.8 billion worth of market cap was gained from this list.
Luster Industries Bhd, which is mainly involved in the manufacturing of precision plastic parts and components, sub-assembly of plastic parts and products, as well as precision engineering works and manufacturing of die-casting components, is the second top gainer in this list.
Its share price grew 309% to 22.5 sen. It is also the latest company announcing to venture into rubber glove making.

It is also worth noting that market capitalisation of HLT Global Bhd, which is involved in the fabrication of glove-dipping lines, ballooned significantly to RM1.11 billion as at Oct 19, from around RM61 million in March. The counter gained 1,509% during the period.

Mah Sing Group Bhd, the latest darling for the glove bulls, has rallied 246% in just three trading days, thanks to its move to diversify into rubber glove production.

The rise in both pharmaceutical counters were mainly driven by news that they would be taking part in the fill-and-finish process for a Covid-19 vaccine for Malaysia, besides the general optimism about the healthcare segment amid the pandemic.

The big leap on their share prices, indeed, exceeded that of healthcare counters, namely Pharmaniaga Bhd that soared 420% during the period to RM5.50, as well as Duopharma Biotech Bhd which surged 261% to RM4.06 as at Oct 19.

hard disk drive components producer JCY International Bhd, which rose 421% to 75.5 sen.

Metal fabricator UWC Bhd was the first runner-up, gaining 423% within the same period to close at RM6.46 on Oct 19

There were a total of 108 counters recording gains over the seven-month period, dominated mostly by technology-related manufacturers. Cables manufacturer Supercomnet Technologies Bhd (STB) led the pack. It surged 501% to its closing price of RM2.20 on Oct 19, from 36.6 sen as at March 18.The counter has seen a steady uptrend since March, with its market capitalisation ballooning to RM1.47 billion from RM205.76 million seven months earlier.
The company was valued at RM205.76 million seven months ago and has since ballooned to breach the RM1 billion mark with a total market capitalisation of RM1.47 billion. YTD, STB has climbed 205% and is trading at a price-to-earnings ratio of 69.3 times.

Crude palm oil (CPO) prices were up to a nine-month high of RM3,011 per tonne in mid-September, as a result of the recovery in demand for palm oil mainly from India and China. This contrasted with the low of RM1,962 per tonne in May.

Although they have rebounded from the trough in March, only PPB is marginally higher by 0.6% YTD among the plantation stocks. The other three plantation counters have yet to recoup their losses since the beginning of this year. YTD, Kuala Lumpur Kepong declined 11.8%, Sime Darby Plantation is down 8.3% and IOI Corp slid 7.2%.

Interestingly, other FBM KLCI index-linked plantation counters also registered a solid 20% growth in their share prices, namely Sime Darby Plantation Bhd (up 23.1%), PPB Group Bhd (up 23%), Kuala Lumpur Kepong Bhd (up 22.1%) and IOI Corp Bhd (up 21.7%).

Topping the list evidently are the big four glove makers — the main beneficiaries of the Covid-19 pandemic.

Healthcare theme, particularly the rubber glove makers, has remained on the centre stage most of the year. Besides the glove stocks, The Edge is taking a closer look at the data to find out the top winners, which have been grouped according to market capitalisation, that have outshone in times of economic uncertainty.

Bursa Malaysia has regained market capitalisation of RM412 billion as a result of the rebound from the mid-March trough over the past seven months between March 18 and Oct 19, 2020, according to Bloomberg data.

Mah Sing to start glove production in April 2021

add in portfolio

today up 30% very geng leh...

today up 30c very geng leh...

two day up 12 c very geng leh...

two day up 30c very geng leh...

two day up 60c very geng leh...

add in portfolio

add in portfolio

good time enter