Posted by Huangbk72 > 2024-02-16 17:29 |

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Posted by Felix888999 > 2024-02-17 08:00 | Report Abuse

Top Glove see minimum impact from red sea crisis. Sales forecasted increase by 20% to 30%! 😁😁😁😁

https://theedgemalaysia.com/node/701059

Posted by feikeiwong > 2024-02-17 13:50 | Report Abuse

Mid 60 yo still stuck in mid life crisis

Posted by Felix888999 > 2024-02-17 14:49 |

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Posted by qqq47660 > 2024-02-17 16:10 | Report Abuse

the inventor of CNY angpow is China not Malaysia.

HK China up since first day of CNY...........

ular, can last to chap goh mei?

Posted by Felix888999 > 2024-02-17 17:01 |

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Posted by Felix888999 > 2024-02-17 17:06 | Report Abuse

Why you so dumb cannot understand simple English? Do you understand what is Minimum impact?

Is Minimum impact = No impact??

Hello mana you sekolah??

Posted by Felix888999 > 2024-02-17 17:09 | Report Abuse

Top Glove expects minimal impact amid Red Sea crisis, says AmInvestment.

Top Glove expects minimal impact amid Red Sea crisis, says AmInvestment
By Anis Hazim / theedgemalaysia.com
15 Feb 2024, 06:09 pm


KUALA LUMPUR (Feb 15): The world’s largest glove maker Top Glove Corp Bhd anticipated that sales volume would be minimally affected by the recent Red Sea shipping crisis, according to AmInvestment Bank Bhd.

Earlier this month, its peer Hartalega Holdings Bhd recorded a 10% drop in its revenue for the third quarter ended Dec 31, 2023 (3QFY2024), due to lower sales volume by 3% as it faced logistical challenges from the Red Sea crisis, coupled with a decrease in average selling prices (ASPs).

However, Top Glove’s management guided that its quarter-on-quarter sales volumes will grow between 15% and 20% in its 2QFY2024 forecast, AmInvestment said in a note on Thursday.


It is also worth noting that Top Glove saw a sustained medical rubber glove demand recovery since December 2023, with nitrile medical gloves improving significantly more than latex medical rubber gloves.


AmInvestment said this may be due to the rubber glove users switching from powder-free latex gloves to cheaper options of nitrile gloves and the absence of latex allergy issues, coupled with a majority of Chinese competitors (nitrile-focused) having been running at full capacity.

“In view of a recent demand pick-up, Top Glove is gradually ramping up manpower and capacities that were previously idle. We gathered that the process could take three months, during which foreign labour will be recruited and production lines (primarily cleaning procedures) will be initiated,” it said.

In terms of pricing, Top Glove has been increasing its ASPs for nitrile gloves since October last year to pass on higher raw material prices. Despite input material price reductions since December 2023, ASPs for nitrile gloves remain unchanged to facilitate margin expansion. It also has the highest cost structure among the Big Four glove makers.


“We view this pricing strategy to be more aggressive than some cost-competitive local peers, as they lowered ASP in 4QCY2023 (fourth quarter of calendar year 2023) by passing through the lower costs,” it said.

While the recent latex price has increased over 15% for the past month, Top Glove, however, refrained from increasing the ASP for latex gloves due to sluggish demand and ongoing competition from Thailand-based Sri Trang Gloves — which it still has excess capacity with a 3QCY2023 plant utilisation rate of 59%.

“The group intends to offset this with greater economies of scale from nitrile gloves,” it added.

AmInvesment maintained its “hold” call on Top Glove with an unchanged fair value of 86 sen per share, based on a CY2024 forecast of price-to-book value of 1.5 times or 0.75 standard deviation below its 10-year average of three times.

At the closing bell on Thursday, Top Glove shares were unchanged at 90 sen apiece, giving the group a market capitalisation of RM7.35 billion.
ADVERTISING



Read also:
Hartalega logs second consecutive quarterly profit in 3Q; Red Sea crisis hurt sales.

Posted by Felix888999 > 2024-02-17 17:10 |

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Posted by Felix888999 > 2024-02-17 19:14 |

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Posted by Felix888999 > 2024-02-17 19:22 | Report Abuse

When there is a crisis. How to turn crisis into opportunity is the management`s duty. If Topglov managed to show improvement in sales next quarter, we should give credit to Tan Sri and his management team.

Posted by Felix888999 > 2024-02-17 19:24 |

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Posted by Felix888999 > 2024-02-17 19:33 |

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Posted by Huangbk72 > 2024-02-17 19:52 | Report Abuse

Hahhaha Auntie Felicia.. u posted many times Red Sea crisis started in Oct.

But not relevant. Because shipping suspended Red Sea route middle of Dec 😂😂

Got internet also don’t know how to get info.. again brain in toilet moment 🤣

Pity you.. help you with some link on shipping line suspension.

https://www.seatrade-maritime.com/containers/top-container-lines-reroute-red-sea-avoid-attacks

https://www.bbc.com/news/world-middle-east-67738792

If you need more help.. just ask.. I know you have brain matter problem 🤣🤣🤣🤣

Posted by Felix888999 > 2024-02-17 20:32 |

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Posted by xiaoeh > 2024-02-17 20:38 | Report Abuse

wah....
through the window look up to the sky....
i see saliva spit everywhere...

Posted by UlarSawa > 2024-02-18 12:36 |

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Posted by UlarSawa > 2024-02-18 12:37 |

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Posted by Felix888999 > 2024-02-18 12:43 |

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Posted by Felix888999 > 2024-02-18 12:45 | Report Abuse

TG management said expected 20% to 30% sales increase. Not I created this story. Believe it or not let`s watch next QR report. Don't have to argue.

Posted by UlarSawa > 2024-02-18 14:36 |

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Posted by Felix888999 > 2024-02-18 14:50 |

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Posted by yfchong > 2024-02-18 14:56 | Report Abuse

RsS > creeping higher.. maybe no good Quarter .... hang on pls put of safety belt yeah

Posted by xiaoeh > 2024-02-18 15:27 | Report Abuse

come down first la then can chiong further to new high
win win ma

Posted by qqq47660 > 2024-02-18 23:57 | Report Abuse

top glove vs geely........................................................ 2024
top glove vs smic ................2024

Posted by Mikecyc > 2024-02-19 10:55 |

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Posted by UlarSawa > 2024-02-19 11:03 |

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Posted by MikeyChan > 2024-02-19 11:34 | Report Abuse

Disease X? Is it twitter 😆

https://www.foxnews.com/world/who-chiefs-dire-warning-disease-x-outbreak-a-matter-of-when-not-if

Posted by Felix888999 > 2024-02-19 12:54 |

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Posted by Huangbk72 > 2024-02-19 13:48 | Report Abuse

TG has factories in China? Why Auntie Felicia talk ex-China shipping rates? 🤣🤣🤣

You yourself saying Minimal impact from Red Sea crisis recently.. So now story pusing again? Hahhahaha

Really you cant make up your mind.. 😂😂😂😂

Posted by UlarSawa > 2024-02-19 14:17 |

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Posted by UlarSawa > 2024-02-19 14:52 |

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Posted by xiaoeh > 2024-02-19 14:55 | Report Abuse

if cannot break 0.880-0.895 and below
price may move up liao...

Posted by xiaoeh > 2024-02-19 14:55 | Report Abuse

will Felix top up?

Posted by UlarSawa > 2024-02-19 14:58 |

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Posted by UlarSawa > 2024-02-19 17:14 |

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Posted by Balian de Ibelin > 2024-02-19 17:16 | Report Abuse

Law of TG proven again.
After Lim Jai buys, TG shares always drops 😁👍

Posted by Felix888999 > 2024-02-19 17:48 |

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Posted by Felix888999 > 2024-02-19 18:13 |

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