Gloves strong rally in anticipation of Omicron variant burst in US and Europe post long 2 weeks Christmas and New Year holidays...US and European countries should be planning large stockpiling of nitrile gloves to tackle rising overwhelming hospitalisations by early January
OTHERS Supermax Corporation Berhad ("Supermax" or "the Company") Press Release: Supermax invests USD350 million to build first phase of manufacturing facility in the United States SUPERMAX CORPORATION BERHAD
Type Announcement Subject OTHERS Description Supermax Corporation Berhad ("Supermax" or "the Company") Press Release: Supermax invests USD350 million to build first phase of manufacturing facility in the United States Pursuant to Paragraph 9.03 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Company wishes to announce that Supermax will invest USD350 million to build its first phase of manufacturing facility in the United States.
Kindly refer to the attached press release for further information.
Supermax Corp Bhd's US-based subsidiary Maxter Healthcare Inc is planning a major manufacturing facility in Texas to increase glove production.
In a statement, the rubber glove maker said the facility will be built in four phases, with the first one to start in the first quarter of 2022 and production to be possible from this phase by the fourth quarter of the same year.
"Each phase is expected to produce 400 million gloves per month. When all four phases are completed, the total installed capacity will be a whopping 1.6 billion gloves per month or 19.2 billion gloves per annum," Supermax said, adding that its board of directors had approved a total capital spending of US$550 million (about RM2.32 billion) for the capacity expansion.
The investment identified for the first phase will total US$350 million and comprise the group's North America manufacturing headquarters, a research and development centre, a training centre and an employee facility centre, said Supermax.
hard to say, maybe those tax incentives, better relationship with government, control in market share. i take it as a good investment, if they use their factory in US to further extend their business to neighboring countries. long run better be close to where your source of income is anyway
Here Malaysia , Supermx employ Bangladeshi , mymar ,indo work like. Dog , work 12 hour per day , per week work 6 day, pay salary RM 1200 per month , acomodation provided 3 bedroom house ,30 ppl stay , threat foreign worker like dog , ,
Earn big money all in his big boss pocket . A dog only pay enough eat .
Don’t know why go U.S set up factory ,employer all U.S ,pay salary USD , come the end loss money invest in U.S
thats the thing i dont get it as well, production of "cheap" goods at expensive location, US cost of operation is high. how many gloves needed to be sold to cover the cost. all i can think of is creating connection and market control.
thats why you see a lot of "cheap" goods are made in asia where cost of labour is the main cost, is cheap there.
Supermax invests US$350m to build first phase of major manufacturing facility in US KUALA LUMPUR (Dec 17): Supermax Corp Bhd's US-based subsidiary Maxter Healthcare Inc is planning a major manufacturing facility in Texas to increase glove production. In a statement, the rubber glove maker said the facility will be built in four phases, with the first one to start in the first quarter of 2022 and production to be possible from this phase by the fourth quarter of the same year. "Each phase is expected to produce 400 million gloves per month. When all four phases are completed, the total installed capacity will be a whopping 1.6 billion gloves per month or 19.2 billion gloves per annum," Supermax said, adding that its board of directors had approved a total capital spending of US$550 million (about RM2.32 billion) for the capacity expansion. The investment identified for the first phase will total US$350 million and comprise the group's North America manufacturing headquarters, a research and development centre, a training centre and an employee facility centre, said Supermax. This project will be Supermax’s 18th manufacturing facility worldwide and its first in the US. Supermax founder and executive chairman Datuk Seri Stanley Thai said the manufacturing plant will be equipped with world-class capabilities, such as automation, robotic engineering manufacturing with artificial intelligence and Industry Revolution 4.0. “This manufacturing facility, when operational, will strengthen the US personal protective equipment supply chain by building capacities. “We will be capable of catering to at least 10% to 15% of annual medical glove imports into the US over the next two to four years. Over the next four to six years, as our capacity increases, we will be able to provide for 20% to 25% of demand and consumption in the US,” he added. At the time of writing on Friday (Dec 17), Supermax shares had risen eight sen or 6.06% to RM1.40, valuing the company at RM3.81 billion. The stock, however, had fallen 75% year-to-date
Did anyone of u notice or not, there's will always be IBs downgrade on glove stocks like supermax n top glove each time there's about to be a rally in glove stocks. It happened quite many times like as if they were worried share prices of glove stocks will fly. To me, I believed all these IBs do have a hidden agenda to finish n kill off glove stocks so they can profit to the maximum. Even yesterday they published negative remarks on TG in an article
England's Chief Medical Officer Chris Whitty said on Wednesday that the Omicron coronavirus variant posed a really serious threat and that what health officials already knew about was "bad".
Too many things happened not just out of coincidence but rather there's a hidden agenda behind them. Like for example IBs gave very high TPs for glove stocks last year probably to lure retailers to chase to high levels n this year especially these few months gave ridiculously low TPs to the same glove stocks so as to continuously press down the prices. Since many got trapped at high prices, obviously they cannot afford to cut loss n some may even sell off their holdings due to the urgent need of funds.
US and European markets red sea today as Omicron variant threats increasing day by day in US and all European countries whereby hospital beds will be overwhelmed 2-4 weeks after Christmas and New Year holidays
KUALA LUMPUR: Supermax Corp Bhd is planning to start construction on the first phase of its new US-based manufacturing facility in Texas, US, in 1Q2022. Good news for Supermax, think the undervalued price will rise again.
supermax want to build a factory in US not a smart move,.......... it will end up a failure one,........ losing billions ringgit,............. the production cost in US is too high ,......... HOW TO MAKE CHEAP GLOVE,........ intel chip also made in malaysia........
LONDON: The British government on Friday reported 93,045 new coronavirus cases, a third consecutive record daily tally, as the Omicron variant fuels a surge in infections across the country.
Scotlandinister Nicola Sturgeon said Omicron is now the country's dominant coronavirus strain, adding "the tsunami I warned about a week ago is now starting to hit us."
And Welsh leader Mark Drakeford told citizens to brace for the "storm of Omicron" having announced the country's nightclubs will close after December 26 and social distancing reintroduced in shops and workplaces.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
myway
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Posted by myway > 2021-12-17 15:24 | Report Abuse
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