Forum : Stock: [SUPERMX]: SUPERMAX CORPORATION BHD

68 posts

Posted by tradek > 2023-09-20 11:45 | Report Abuse

no update so far, but the last update on US factory about 3 months ago was this post... https://www.linkedin.com/feed/update/urn:li:activity:7071501349732974592/?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7071501349732974592%29
Distribution center looks completed, First of 4 manufacturing plant is halfway... bet AGM end of year will have more info... So far the news is quite mixed, either start production end of year, or only complete plant 1 end of year and start in Q1/Q2 2024 etc... so best to ask during AGM...

minher

371 posts

Posted by minher > 2023-09-20 12:17 | Report Abuse

US lifts import ban on Supermax over forced labour concerns

KUALA LUMPUR (Sept 20): The US allowed imports from Supermax Corp Bhd, after customs authorities lifted a ban imposed on the company since October 2021 for alleged forced labour.

In a statement on Tuesday, the US Customs and Border Protection (CBP) said effective immediately, the agency will allow imports of disposable gloves manufactured by Supermax Corp and its wholly owned subsidiaries to enter the US, provided they are otherwise in compliance with US laws.

The CBP on Oct 21, 2021, issued a withhold release order (WRO) against Supermax Corp and its wholly owned subsidiaries (Supermax Glove Manufacturing, Maxter Glove Manufacturing Sdn Bhd and Maxwell Glove Manufacturing Bhd).

CBP Senior Official Performing the Duties of the Commissioner Troy A Miller said the action underscores the ongoing impact of CBP’s enforcement efforts in driving remediation and eliminating forced labour from supply chains.

“Everyone is entitled to humane and dignified treatment in the workplace, no matter who they are or where they live, and that’s why this work matters,” said Miller.

CBP began enforcing the WRO against Supermax Corp and its wholly owned subsidiaries based on evidence reasonably indicating the presence of 10 of the 11 International Labour Organization indicators of forced labour.

In response to the WRO, the company demonstrated to CBP that it has taken steps to remediate the forced labour indicators identified in its supply chain.

Meanwhile, CBP’s Office of Trade's Executive Assistant Commissioner AnnMarie R Highsmith said the agency’s vigilance on this issue is showing the industry and the world that it is fully committed to elevating the ethical standard of goods entering the US and ending forced labour.

Thus far in fiscal year 2023, CBP has issued four modifications.

CBP said forced labour enforcement efforts have resulted in the improvement of living and working conditions for tens of thousands of workers, including the repayment of more than US$50 million (RM234.72 million) in withheld wages and recruitment fees used to trap workers in debt bondage.

At the time of writing, Supermax Corp gained 1.23% or one sen to 82 sen with 1.66 million shares traded.

Read also:
US Customs issues seize order on Supermax products on forced labour finding

Most Read
Just In
Najib's 1MDB-Tanore trial live reporting (Sept 20)
TA Securities bets on no gaming tax hike in Budget 2024, top pick Genting
Blackstone CEO Schwarzman says expect the unexpected in volatile US politics
Kenanga: Private hospitals main beneficiary of local healthcare system overhaul
Employers need to review salaries, 97.3% of job listings offer similar salary levels to last year — JobStreet

68 posts

Posted by tradek > 2023-09-20 13:04 | Report Abuse

wow, good news...

1,219 posts

Posted by myinvestor > 2023-09-20 13:34 | Report Abuse

Finally cbp lifted wro. US restriction China ppe final rule 20/7/2023 updated.

https://www.federalregister.gov/documents/2023/07/20/2023-15154/defense-federal-acquisition-regulation-supplement-restriction-on-acquisition-of-personal-protective

1,219 posts

Posted by myinvestor > 2023-09-20 13:44 | Report Abuse

https://www.cbp.gov/newsroom/national-media-release/cbp-modifies-withhold-release-order-against-supermax-corporation
cbp media release on modifies supermax wro.

5231428

615 posts

Posted by 5231428 > 2023-09-20 13:52 | Report Abuse

For sure Supermax will fly.

Fklim888

1,613 posts

Posted by Fklim888 > 2023-09-20 15:22 | Report Abuse

Stanley will be back ...or how far can go ....

Havefun

384 posts

Posted by Havefun > 2023-09-20 16:16 | Report Abuse

No buying power

speakup

27,028 posts

Posted by speakup > 2023-09-20 18:58 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/09/20/us-customs-lifts-ban-on-supermax-gloves

USA is pure evil! During covid they jealous our glove companies make big profits. Now COVID over, foreign worker no longer issue anymore

speakup

27,028 posts

Posted by speakup > 2023-09-20 20:22 | Report Abuse

Let's all boycott USA products!
I start with McD, Starbucks, ...

Casino123

43 posts

Posted by Casino123 > 2023-09-20 21:38 | Report Abuse

Tommorrow still can buy?

1,347 posts

Posted by SWT1988 > 2023-09-21 08:52 | Report Abuse

will be a brilliant move if pump n dump like how Top glove had done b4.

1,347 posts

Posted by SWT1988 > 2023-09-21 09:04 | Report Abuse

ikan bilis masuk masuk. cepat masuk

1,347 posts

Posted by SWT1988 > 2023-09-21 09:06 | Report Abuse

satu kasi sapu n tangkap semua

huatkia

112 posts

Posted by huatkia > 2023-09-21 10:04 | Report Abuse

am I billis or brilliant? time will tell
Entry 0.860
TP 1.03-1.13

296 posts

Posted by ChloeCheong > 2023-09-21 11:20 | Report Abuse

At last they lifted the import ban and hopefully it will raise the demand a bit

https://theedgemalaysia.com/node/683219

1,347 posts

Posted by SWT1988 > 2023-09-21 12:43 | Report Abuse

c how low it will down after TG qtr result released.

1,347 posts

Posted by SWT1988 > 2023-09-21 12:45 | Report Abuse

l will only buy if TG result is not too bad or price around 0.70

Havefun

384 posts

Posted by Havefun > 2023-09-21 14:05 | Report Abuse

Topglove is not banned to sell to US, right? See how much was their revenue last quarter?

Investor126

366 posts

Posted by Investor126 > 2023-09-21 15:48 | Report Abuse

Yes, time definitely will tell. Stanley and his proxies never buy now, but you bought. Few months to years down the road, you could only wish for a gap up just to withdraw quickly.

296 posts

Posted by ChloeCheong > 2023-09-22 15:09 | Report Abuse

Glove counters will ride up with the good qr from TG

68 posts

Posted by tradek > 2023-09-22 17:11 | Report Abuse

American Medical Manufacturers Association (AMMA)
https://drive.google.com/file/d/1d6A9-2zgC9517pjqatKRkBGogLWKDiyf/view?pli=1
lol, stanley also part of Made in America committee now...

EngineeringProfit

20,577 posts

Posted by EngineeringProfit > 2023-09-24 06:26 | Report Abuse

A two-year-long US import ban on Supermax rubber gloves has been lifted from Sept 18

huatkia

112 posts

Posted by huatkia > 2023-09-24 20:41 | Report Abuse

what is the logic of tp by some of the bank by unchanging the TP oist uplifting of the import ban? after 2 years of inability to sell to US, biggest market? to now able to sell. even a 1 cent raise also logic, unless.....

________________________________________________

EngineeringProfit

14,826 posts

Posted by EngineeringProfit > 14 hours ago | Report Abuse

A two-year-long US import ban on Supermax rubber gloves has been lifted from Sept 18

1,219 posts

Posted by myinvestor > 2023-09-25 14:23 | Report Abuse

True, previously US market had been always 10-15% of company revenue and profit.

296 posts

Posted by ChloeCheong > 2023-09-26 12:21 | Report Abuse

US will buy more gloves from Malaysia after they lifted the ban in order to 'compensate' something

ivanlau

1,389 posts

Posted by ivanlau > 2023-10-01 20:16 | Report Abuse

Insider news, TopGlove coming QR will be worst than expectation , it will cause the bad market sentiment toward glove counters , good luck guys.........

1,347 posts

Posted by SWT1988 > 2023-10-04 12:58 | Report Abuse

C how long they can hold above 0.80

1,347 posts

Posted by SWT1988 > 2023-10-04 12:59 | Report Abuse

m waiting @ around 0.70

296 posts

Posted by ChloeCheong > 2023-10-06 10:20 | Report Abuse

Shorting forces are huge on glove counters today ..

1,219 posts

Posted by myinvestor > 2023-10-06 11:04 | Report Abuse

Most of shorties had already reduced short volume esp. top glove by 160 m . Balance about short vol 23m.

1,347 posts

Posted by SWT1988 > 2023-10-06 16:17 | Report Abuse

c u below 0.80 next week

296 posts

Posted by ChloeCheong > 2023-10-11 10:14 | Report Abuse

Coming again. Ha

https://www.channelnewsasia.com/singapore/covid-19-wave-new-variants-more-people-fall-sick-ong-ye-kung-moh-vaccines-3826216

alenac

2,655 posts

Posted by alenac > 2023-10-11 10:21 | Report Abuse

Good morning, another Q of bad results for TG, the future of the glove counter is worsening. Now is not the time to hear cock N bull stories of glove company owners.

1,347 posts

Posted by SWT1988 > 2023-10-11 18:24 | Report Abuse

0.80 support been broken today. Next? Anyhow not many ikan bilis being caught during this downtrend except the stubborn one.

Investor126

366 posts

Posted by Investor126 > 2023-10-12 14:52 | Report Abuse

Who else dare to buy a counter that has no credibility, especially the boss got case before.
US' factory is just a smokescreen only. Release good news once in a while, especially when the market is stagnant, just to trap more inside.

Akash4599

1 posts

Posted by Akash4599 > 2023-10-12 14:56 | Report Abuse

296 posts

Posted by ChloeCheong > 2023-10-13 16:56 | Report Abuse

Noticed that supermax bought some gloves from Intco on 6 Oct...demand is raising?

cwc1981

1,397 posts

Posted by cwc1981 > 2023-10-16 16:11 | Report Abuse

Wondering what is the asp in supermax?

alenac

2,655 posts

Posted by alenac > 2023-10-17 20:17 | Report Abuse

Good evening owners of glove companies & funds caught in glove counters are speculating that the glove industries will recover at the end of 2024 or rather last quarter of 2024. Far from it, if we take into account the rising costs of material & transport as well the low turnover of these companies, they can hardly break even with the stiff ASP.

1,219 posts

Posted by myinvestor > 2023-10-21 14:01 | Report Abuse

OTHERS Supermax Corporation Berhad (Supermax or the Company) - Proposed Renewal of Authority for the Company to Purchase its Own Shares

alenac

2,655 posts

Posted by alenac > 2023-10-24 10:13 | Report Abuse

No point in purchasing your own shares when the business can't make money. The rational step is to pay all available cash reserve and start a new even if the share price drops to 10 sen,
myinvestor
OTHERS Supermax Corporation Berhad (Supermax or the Company) - Proposed Renewal of Authority for the Company to Purchase its Own Shares

2 days ago

0 seconds ago

1,347 posts

Posted by SWT1988 > 2023-10-24 19:57 | Report Abuse

almost time to slump toward 0.70 like TG?

ivanlau

1,389 posts

Posted by ivanlau > 2023-10-26 08:20 | Report Abuse

Insider news, will have big impairment loss in coming QR , better sell off now

1,219 posts

Posted by myinvestor > 2023-10-26 13:45 | Report Abuse

Overall, Chinese companies supply a majority of US imports for 46 percent of products that fall under critical PPE. When looking more generally at US imports of critical public health goods (including PPE), the share of products for which China is the majority supplier falls to 31 percent

68 posts

Posted by tradek > 2023-10-31 09:12 | Report Abuse

notice of AGM... https://www.klsescreener.com/v2/announcements/view/5872027

1) No cash dividend announced
2) No share dividend announced
3) Waiver of Pre-emptive Rights pursuant to Section 85 of the Companies Act 2016 (dont know what is this?) .... from google explanation can be rights issue to existing shareholder or can be some major shareholder wants to offload shares but the existing shareholders has the first right to the offer... not sure which is which in this case...

tricky situation...

Asia88

590 posts

Posted by Asia88 > 2023-11-01 01:14 | Report Abuse

maybe tired of getting shoot by shareholder. hold the agm virtually this year.

68 posts

Posted by tradek > 2023-11-01 10:22 | Report Abuse

noticed also the AGM is also virtual... hmm...