Posted by 5231428 > 2024-06-18 10:47 | Report Abuse

Folks, What's up Topglove up.

Posted by thedancingbull > 2024-06-18 10:50 | Report Abuse

looks positive

Posted by LimPek1510 > 2024-06-18 11:15 | Report Abuse

Hit TP before QR release. I hold the tickets to watch tmrw`s QR results.

Posted by Dannyfyl88 > 2024-06-18 11:27 | Report Abuse

Depends on QR... this could be the best bargain Buy in Gloves (if not dead yet..facing down). Comparing this Taiko to Harta and Kossan, this was beaten to shit and the 2 flew past it months ago. It seems it will have Much more potential to Uptick more than Both. Given years back, this was trading 50% Higher than Kossan... now it is 50% of Kossan because of Shorts and poor reviews. Will add more if can.

Posted by yfchong > 2024-06-18 11:30 | Report Abuse

Esok QR pass or fail

Posted by yfchong > 2024-06-18 11:31 | Report Abuse

RhB Osk very positive leh

Posted by paperplane > 2024-06-18 11:35 | Report Abuse

UOB latest report TP- Harta 3.92, Kossan 2.73, TopGlov- 1.28

Posted by yfchong > 2024-06-18 11:47 | Report Abuse

Just hit n run at 1.35 , I am happy liao after soo long

Posted by dxbman > 2024-06-18 12:12 | Report Abuse

COLLECT/BUY

Posted by Mini2021 > 2024-06-18 15:04 | Report Abuse

Buy now or never? Year end TP RM 2

Posted by LimPek1510 > 2024-06-18 15:04 | Report Abuse

RHB give 1.32 TP

KUALA LUMPUR (June 18): Investors should now buy shares of Top Glove Corp Bhd (KL:TOPGLOV) even as the world’s largest glove maker by volume may report another quarterly loss and stay in the red for the second year, RHB Investment Bank said.

RHB IB upgraded its recommendation for Top Glove to “buy” from “neutral” previously, citing improving investor sentiment from “favourable” operating dynamics. RHB IB joins a very small minority with a “buy”’ call out of more than two dozen research houses covering Top Glove.

Top Glove “is poised for a meaningful share price recovery in 2024”, RHB IB said in an earnings preview note. The stock is also high beta, the house noted, meaning that it has relatively higher risk and returns that come with higher volatility.


The company will probably report a core loss of RM40 million to RM45 million for the third quarter ended May 31, 2024 (3QFY2024) versus RM66 million in 2QFY2024, according to RHB IB’s forecast. Top Glove is scheduled to release its results on June 19. Both volume and average selling price (ASP) are expected to recover, RHB IB noted.

However, a 5%-6% rise in natural gas tariff will probably drag on Top Glove, while natural latex has climbed 12% and acrylonitrile was up 3.6%, adding to raw material prices.

Analysts are mostly bearish on Top Glove, with 10 out of 22 research houses featuring “sell” calls and eight on “hold” ratings. Four, including RHB, have “buy” recommendations. The consensus’ 12-month target price is 91 sen, implying a potential decline of 25% from the current price.

So far this year, Top Glove’ shares have risen over 30% on Bursa Malaysia amid investors optimism for a turnaround in the industry beset by oversupply from massive capacity expansion and lacklustre demand, following overbuying during the pandemic.

Top Glove peaked at RM1.26 in mid-May after the US raised tariffs on Chinese rubber medical and surgical gloves effective 2026, as smaller rivals also surged following the news.

At 10.04am on Tuesday, Top Glove was up four sen or 3.42% to RM1.21, after 18.4 million shares changed hands. Its market capitalisation stood at RM9.93 billion.

“We learnt that the industry operating dynamics has turned favourable for glove manufacturers as we understand that customers are more receptive to the ASP increase in the coming months,” RHB said, noting that Chinese glove makers have also raised their ASP.

Demand, meanwhile, has picked up, with total industry exports volume growing 6% quarter-on-quarter in the first three months of 2024, which indicates that “the recovery momentum of global glove demand remains healthy,” RHB IB added.

The company in March reported a narrower net loss of RM51.19 million for 2QFY2024, bringing total net loss to RM108.91 million for its first six months.

While it has managed to narrow its half-year net loss compared with the previous year of RM332.90 million, results came in worse than consensus’ estimates, which called for a full-year net loss of RM69 million, amid lower-than-expected margins.

On its part, Top Glove executive chairman Tan Sri Lim Wee Chai said the company is optimistic of returning to the black as early as August this year, citing further pickup in demand for gloves after two years of inventory destocking due to excess capacity built up during the pandemic.

The company is betting on revenue jumping over 20% in 3QFY2024, after it observed increasing sales for March and April as well as an upward adjustment of the ASP of gloves.

Nitrile gloves' average ASP per 1,000 pieces stood at US$17, while that of natural rubber gloves’ average ASP stood at US$18 per 1,000 pieces during 2QFY2024.

Edited ByJason Ng & Surin Murugiah

Extended Mrec

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Posted by Killsthebear > 2024-06-18 16:15 | Report Abuse

On its part, Top Glove executive chairman Tan Sri Lim Wee Chai said the company is optimistic of returning to the black as early as August this year, citing further pickup in demand for gloves after two years of inventory destocking due to excess capacity built up during the pandemic.

Posted by Iamnotasifu > 2024-06-18 16:15 | Report Abuse

TG another pump and dump before reaching RM3?

Posted by Sweetchocalates > 2024-06-18 17:57 | Report Abuse

https://www.thestar.com.my/aseanplus/aseanplus-news/2024/06/18/japan-reports-record-spike-in-flesh-eating-bacterial-infections

Posted by InfinityTifanny > 2024-06-18 18:04 | Report Abuse

RHB holds positive outlook on TG's result. How about Kenanga? Is it still holding pessimistic outlook? 😁

Posted by TiGongPoPiPopi > 2024-06-18 22:47 | Report Abuse

If this is the result with such loss then considered TiGong no popi popi? Then how to Limit up like this?


The company will probably report a core loss of RM40 million to RM45 million for the third quarter ended May 31, 2024 (3QFY2024) versus RM66 million in 2QFY2024, according to RHB IB’s forecast. Top Glove is scheduled to release its results on June 19. Both volume and average selling price (ASP) are expected to recover, RHB IB noted.

Posted by yfchong > 2024-06-18 22:58 | Report Abuse

Sama sama menanti ketibaan QR :

Posted by yfchong > 2024-06-19 08:02 | Report Abuse

Rss is at the roof yeah.....

Posted by TiGongPoPiPopi > 2024-06-19 08:26 | Report Abuse

Lunch time will know the QR result? Shortists will short more or short covering?

Posted by TiGongPoPiPopi > 2024-06-19 09:34 | Report Abuse

Countdown 4 hours to go to release QR. Everyone in glove ctrs are very concern about Taikor QR. Good QR ? How Good is Good? Market will decide later.

Posted by yfchong > 2024-06-19 09:50 | Report Abuse

Afternoon. Full tank, half tank of blood.., or sky is the limit leh.....

Posted by TiGongPoPiPopi > 2024-06-19 10:39 | Report Abuse

Fish tank full of fishes? Got blood in the tank?


Posted by yfchong > 48 minutes ago | Report Abuse

Afternoon. Full tank, half tank of blood.., or sky is the limit leh.....

Posted by Mini2021 > 2024-06-19 11:18 | Report Abuse

You will never see Topglov at Rm 0.8 again...

Posted by yfchong > 2024-06-19 11:36 | Report Abuse

Apa macam

Posted by paperplane > 2024-06-19 12:02 | Report Abuse

RM7+RM0.80 average down, average cost is RM3.90, anything below 3.90 also got selling pressure, forget it

Posted by thedancingbull > 2024-06-19 12:04 | Report Abuse

wht time qr out, very nervous leh

Posted by 5231428 > 2024-06-19 12:27 | Report Abuse

QR sure good one, because Topglove is up.

Posted by TiGongPoPiPopi > 2024-06-19 12:29 | Report Abuse

Countdown to lunch time to release the QR. In the past 2 years every QR released without much good news. Will today be the same?

Posted by autoven > 2024-06-19 12:41 | Report Abuse

i speculate today PBT +38mil

Posted by Sweetchocalates > 2024-06-19 12:59 | Report Abuse

Holy sheet rm50m profit. Huat liao later

Posted by lloydlim > 2024-06-19 13:01 | Report Abuse

Show Time!

Posted by autoven > 2024-06-19 13:02 | Report Abuse

shit...58mil profit

Posted by autoven > 2024-06-19 13:02 | Report Abuse

Felix888akaFelix1510, you talk nonsense....

Posted by crazypapapoor > 2024-06-19 13:07 | Report Abuse

I THINK CAN GO RED

Posted by 5231428 > 2024-06-19 13:07 | Report Abuse

Sure good one correct.

Posted by autoven > 2024-06-19 13:09 | Report Abuse

Felix888akaFelix1510, why you deleted your comment? be a MAN!
i should quote your words

Posted by bursabetss > 2024-06-19 13:13 | Report Abuse

58m profit compare to forecast 48m loss, we flying today?

Posted by 5231428 > 2024-06-19 13:17 | Report Abuse

Lim Wee Chai everyone will look up to you for sure.

Posted by Epseps > 2024-06-19 13:18 | Report Abuse

All glove counters will fly together ??!!

Posted by kelvinfixx > 2024-06-19 13:22 | Report Abuse

Topglove top to bottom staff turn the company around. Impressive.

Posted by 5231428 > 2024-06-19 13:25 | Report Abuse

Really beyond expectation.

Posted by Cnlim > 2024-06-19 13:27 | Report Abuse

already discounted push up before results

Posted by Cnlim > 2024-06-19 13:28 | Report Abuse

wait for next quarter

Posted by crazypapapoor > 2024-06-19 13:33 | Report Abuse

operation loss, profit from non-glove bz.

Posted by Sweetchocalates > 2024-06-19 13:36 | Report Abuse

Without disposal of land, top g actually loses only rm15m including forex gains. It’s a very huge difference from previous quarter. Expect big goreng later.

Posted by kelvinfixx > 2024-06-19 13:40 | Report Abuse

Foresee operation turn black next quarter.

Posted by crazypapapoor > 2024-06-19 13:43 | Report Abuse

today limit down?

Posted by Albukhary > 2024-06-19 13:55 | Report Abuse

Yesterday RHB-OSK give Topglove a target price of RM1.32, based on their estimation below:-

"We expect TOPG to deliver a core loss of MYR40-45m from a core loss of MYR66m in 2QFY24.

Today, Top Glove delivery a superb result of RM58mil.
Even if we exclude the one-off disposal profit, the net losses is still far far below than RHB-OSK expectation.

Shall RHB-OSK revised their target price to RM1.65 (25% upward), as Top Glove turnaround plan is beyond their expectation, and cash flow has improve substantially follow the disposal of excess land.

Posted by Lukey_Greek > 2024-06-19 14:05 | Report Abuse

As usual, uncle Lim painted a very bright future for his company. This time is in 2026, another 1 & half year to go. If based on current ASP price trend prediction, expect another operating loss next quarter. Hope there are more excess land to sell in coming quarters to maintain in black.

Posted by kelvinfixx > 2024-06-19 14:10 | Report Abuse

Lukey, the TG sales is increasing.