Posted by nataliekoo > 2021-08-17 14:58 |

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Posted by Stealth > 2021-08-17 14:58 |

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Posted by StockNotSafe > 2021-08-17 15:43 |

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Posted by StockNotSafe > 2021-08-17 15:43 |

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Posted by hanafi9670 > 2021-08-17 15:53 | Report Abuse

another billion RM profit and the share price is just RM3.08...what a joke....wait and see...

Posted by Benhobenhobenho > 2021-08-17 16:12 | Report Abuse

Manipulation of share price so weak holders will let go n they can pick up cheap

Posted by Benhobenhobenho > 2021-08-17 16:15 | Report Abuse

All these prices movement are manipulated n controlled by big time operators with super huge funds

Posted by warrenG > 2021-08-17 16:16 | Report Abuse

Lot of shorties still sell at this price..RM2.5 TP still intact

Posted by Benhobenhobenho > 2021-08-17 16:18 | Report Abuse

So happen supermax is one counter dominated by retailers

Posted by MoneyMakers > 2021-08-17 16:22 |

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Posted by idunwork > 2021-08-17 16:28 | Report Abuse

Whats happening more qr delay more price drop ?

Posted by nataliekoo > 2021-08-17 17:00 |

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Posted by Start_0f_the_bull > 2021-08-17 17:10 | Report Abuse

What? Rubbish counter?

Posted by investmalaysia77 > 2021-08-17 17:12 |

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Posted by MoneyMakers > 2021-08-17 17:30 |

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Posted by investmalaysia77 > 2021-08-17 17:32 |

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Posted by sharemarket21 > 2021-08-17 17:59 |

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Posted by Habisgl0ve > 2021-08-17 18:32 |

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Posted by SinGor > 2021-08-17 18:45 |

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Posted by Habisgl0ve > 2021-08-17 19:16 |

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Posted by Sunyata > 2021-08-17 19:17 | Report Abuse

I heard insider they buying back shares, that's why late, shorties becareful

Posted by skyu > 2021-08-17 19:46 | Report Abuse

genm used to have big cash pile ,, look at it now. my humble suggestion , dont take cash as a measurement of a company value.

Posted by kk7198 > 2021-08-17 20:10 | Report Abuse

Do you know how many company Supermax can acquire with 4 bil cash? JUST KEEP AS IT IS TOO LOW TO SELL.

Posted by myinvestor > 2021-08-17 20:22 | Report Abuse

Fund managers are getting more defensive as they grow more pessimistic on the economy and corporate profits, according to the latest monthly survey conducted by Bank of America.
Global fund managers have increased their holdings in healthcare, insurance, utilities and cash, while trimming their exposure to materials, commodities, emerging markets and energy.

market watch.

Gloves shares will be rebounding soon.

Posted by Mak_kiah > 2021-08-17 20:29 |

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Posted by kamirise360 > 2021-08-17 21:00 |

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Posted by kk7198 > 2021-08-17 21:00 |

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Posted by pjseow > 2021-08-17 21:10 | Report Abuse

Why IBs gave such a low PE to glove stocks despite 10 to 30 x YOY growth in earnings for the last 4 qtrs compared with pre pandemic 2019 ? The unreasonable low PEs assigned to these 4 glove counters especially Supermx are due to failures of IBs to effectively and logically value the glove stocks plus failures for major investors to see the values from a more logical manner . Let me share with you how badly our IBs had mis value our glove stocks .

Imagine this pandemic did not trigger a super extraordinary rise in demands ( more than 18 months leadtime ) and ASPs ( 4 x increase ) in the last one year but a more gradual rise of 10 % ASP per year and an 18 % rise in capacity per year as follows .

Lets take supermx as example in a hypothetical scenario

ASP ( US per k ) 10 % rise per year from 2020 to 2023

2019 2020 2021 2022 2023

22 24.2 26.6 29.3 32.2


Capacity ( billions pa ) increase 18 % per year from 2020 to 2023

2019 2020 2021 2022 2023

25 29.5 34.8 41.1 48.5

Net Margin

2019 2020 2021 2022 2023

8 % 10 % 12 % 15 % 18 %


PAT ( millions Ringgit ) assuming utilization of 85 % and exchange rate of 4.2

2019 2020 2021 2022 2023
Mfg
144 306 496 644 1003

Distribution ( 50 % of mfg profits )

0 153 248 322 502

Total Profits ( millions )

144 459 744 966 1504

EPS (in sen ) ( Total shares 2.72 billions )

5.3 16.9 27.3 35.5 55.3

Values in RM ( assuming PE of 15 )

0.79 2.53 4.10 5.33 8.30

The above scenarios gave a 3x rise in profits from 2019 to 2020 due to a change in business model when Distribution Division started to deliver profits . Thereafer , an average of 30 to 60 % growth pa in earnings from 2020 to 2023 . Will peoples still talk about ASP coming down and over capacity with such gradual growth ?
Will IB s give a good valuations under such scenario ( consistent growth of 30 % to 200 % per year and will continue to grow after 2023 .

The end points ( 2023 ) are the same for both scenarios , ASP reach US 32.2 ( between 30 to 35 ) post pandemic and capacity grows from 25 billions to 48.5 billions .

I can bet you no company in KLSE can beat Supermx with such hypothetical earning growth for 4 years . In fact a PE of more than 15 should be given to such super high growth company .

Now , is the total earnings for the above hypothetical scenario more than the current scenario ? The answer is a BIG NO NO NO . In fact the total earnings is only 3.674 billions which is only less than half of the current scenario .
If the current super high growth of more than 30 x ( or 3000 %) growth earn more in total than the above hypothetical scenario , why punish the stock and give such a low PE ? Are the IBs damn poor in their maths ? Are they ignorant or naive ?
I am taking a challenge with IBs to show me any other company in KLSE can meet the above growth from 2020 to 2023 . Vitrox, MPI , Greatec , Penta , Frontken ?
I hope all IBs will read my article and think logically and revalue the glove stocks accordingly especially supermx . It is grossly and unreasonable undervalued . I welcome civilised comments from serious investors .

Disclaimer : THe above analysis is not a buy or sell call .

Posted by Start_0f_the_bull > 2021-08-17 21:15 | Report Abuse

kk7198 @Nightrider, you are absolutely correct. Even LWC also kowtow to shorties.
17/08/2021 9:00 PM

Just wonder, how much lower can they press down?

Posted by NatsukoMishima > 2021-08-17 21:27 | Report Abuse

Shorties rss gloves stock because they know the real value n just want it at cheapest price , if tg rm 2 , smx rm1.5 , harta rm 4 ,kossan rm 1 , u see the bursa system will hang whole day , foreign funds will rush in n sin ga lan IB will follow also !

Posted by Start_0f_the_bull > 2021-08-17 21:37 | Report Abuse

NatsukoMishima Shorties rss gloves stock because they know the real value n just want it at cheapest price , if tg rm 2 , smx rm1.5 , harta rm 4 ,kossan rm 1 , u see the bursa system will hang whole day , foreign funds will rush in n sin ga lan IB will follow also !
17/08/2021 9:27 PM

So the price is not low enough to cause the Bursa system hang?
If this really happen those monkeys out there would be celebrating with laughing and dancing towards the weekend until next Monday opening bell.

Posted by mf > 2021-08-17 21:38 | Report Abuse

US 30 35,346.5 -278.9 -0.78%
US 500 4,447.3 -32.4 -0.72%
Dow Jones 35,342.94 -282.46 -0.79%
S&P 500 4,447.10 -32.56 -0.73%
Nasdaq 14,647.1 -146.7 -0.99%

Posted by myinvestor > 2021-08-17 21:48 | Report Abuse

There is no much play for shorties this week. The net short position already 3.0% by end of this week. They will start to cover when 3%+ is reach. This is based on past record.

Posted by AlsvinChangan > 2021-08-17 22:07 | Report Abuse

Revenge of the bilis comming soon

when RSS reach its limit 4%

3% limit is about 108M shares, the actual limit could be 4%

RSS problem after that is BUYBACK the shares shorted to such low price

IF few thousands Bilis come out of nowhere to compete with RSS BUYING the price could shoot up like a rocket

Posted by Stealth > 2021-08-17 22:16 |

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Posted by AlsvinChangan > 2021-08-17 22:20 | Report Abuse

as at 16/08/2021 net is 70,863,136

RSS expected to buyback and return the shares the OWNERS

Posted by jgc147 > 2021-08-17 22:37 | Report Abuse

Pjseow, thanks for the analysis. The points are very clear. Not sure why in Malaysia the Glove Co are singled out with such low multiples.
A question I have is can the Glove Cos do more to address this issue.
There are a number of concerns around which need to be addressed to normalise I think, namely

ESG uncertainty and Risk
China Capacity, competence and Cost
Oversupply to Demand
ASP visibility.

I do think the glove cos can do more in managing the comms around these issues.
The issue with shorts is due to no liquidity, addressing the above improves liquidity and will fix the shorts.

Posted by Iamstilllearning > 2021-08-17 22:44 | Report Abuse

market now is too hard to fall.
there are a lot of money outside.

Posted by Stealth > 2021-08-17 22:50 | Report Abuse

nightrider, you're totally mistaken. pjseow's post is not at all meaningless. its for the benefit of all supermax shareholders including you.And you think any one article can influence price movement? Maybe can lah if you're from jpm. On the other hand, if and IF AT ALL IT WAS WRITTEN BY JPM, MY GOD,SUPERMAX WILL SHOOT THRU THE ROOF!!!!!

Posted by Stealth > 2021-08-17 22:56 | Report Abuse

jgc147 a very good question. Those are my concerns too!!

Posted by Stealth > 2021-08-17 23:05 | Report Abuse

i think china would be the biggest threat. minus china for nitrille gloves, malaysian producers would be in a more comfortable position

Posted by MoneyMakers > 2021-08-17 23:16 |

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Posted by MoneyMakers > 2021-08-17 23:18 |

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Posted by I3i3i3 > 2021-08-17 23:20 | Report Abuse

专家中的专家。
股价不只是靠好报告，价格就会升。
重点是有炒家愛上它吗？
目前，这股一直被卖空。
老板又沒能力扶持它，它怎样上升呢？
买股赚钱必须靠運气。
就像那个废物，亚汉八八这样。
他也可以当上部长。
不是人不信，鬼也不会信。
祝大家好運。

Posted by ToneeFa > 2021-08-17 23:33 | Report Abuse

@AlsvinChangan as at 16/08/2021 net is 70,863,136

RSS expected to buyback and return the shares the OWNERS
17/08/2021 10:20 PM

Maybe have to wait until next Thurday/Friday for the QR to release.

Posted by ToneeFa > 2021-08-17 23:54 | Report Abuse

@pjseow Why IBs gave such a low PE to glove stocks despite 10 to 30 x YOY growth in earnings for the last 4 qtrs compared with pre pandemic 2019 ? The unreasonable low PEs assigned to these 4 glove counters especially Supermx are due to failures of IBs to effectively and logically value the glove stocks plus failures for major investors to see the values from a more logical manner . Let me share with you how badly our IBs had mis value our glove stocks .
17/08/2021 9:10 PM

Good point pjseow. However the problem in Msia Bursa is, its too easy to manipulate with impunity. Our regulations and persecution of violations are very selective. The public investors couldn't care less about exercising their rights as shareholder. Our Minority Shareholder Watchdogs are just toothless to bite. So the system is rigged all the way. IBs have become too greedy, they want it all. Make money kaw kaw both ways, Swing it up one round, then swing it down another round. They probably won't allow IDSS for now, so they monopolize the RSS game for now. Why let so many Tom Dick and Harry in the game. Their game involved an entire ecosystem of support from news media to i3 forum goons. But I do believe with Supermax, it has hit a hard bottom alrdy, supportted by huge cash in hand, super net profit every qtr, good dividend yield, almost doubling of capacity within next 12 months and Delta and coming new variants will ensure ASP remain elevated for a longer time.

Posted by Nightrider > 2021-08-18 00:20 |

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Posted by linheng > 2021-08-18 06:09 | Report Abuse

If no contra, no worry. Just buy and keep. Demand for glove is not going away. China is not a cheap labour country anymore. West also cannot be buying everything from China

Posted by Habisgl0ve > 2021-08-18 06:11 |

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Posted by dick20 > 2021-08-18 08:20 | Report Abuse

pjseow Why IBs gave such a low PE to glove stocks despite 10 to 30 x YOY growth in earnings for the last 4 qtrs compared with pre pandemic 2019 ?

Thanks PJ for the analysis! Spot on!