Why Topglove directors rushed to announce share purchase & still couldnt push up the price? My uncle said because price max already, will slide down. Am worry.
as expected..starting july, all the big brothers made the move 1st..topglove, kossan & supermax performed superb today, hartalega performed the best hit all time high
Good news for mankind. Oh no, bad news for overbought glove stocks. Pfizer shares jumped 3% after a COVID-19 vaccine developed jointly with Germany's BioNTech was found to be well tolerated.
My uncle (a retired fund manager) said they keep asking u to buy bcos they want to sell to u. Am very scared. He said can lose >50% in glove stocks in a day.
KUALA LUMPUR: Anzo Holdings Bhd is believed to have signed a sales and purchase agreement to buy over a local glove manufacturer for about RM50 million to RM60 million.
The company is expected to make an announcement on the deal soon.
Last week, Anzo told Bursa Malaysia that it had secured a RM1.3 billion contract to supply millberry/candy copper scrap over 40 months indirectly to a steelmaker in South Korea effective from July 1.
People with knowledge on the matter said the glovemaker had been looking to cash out after being in business for over 15 years and aproached Anzo to buy it over.
The glovemaker, which has the licence to export medical gloves, produces more than one billion pieces of nitrile gloves per annum, worth about RM400 million.
It is expected that Anzo would start exporting nitrile gloves from next month to countries such as Canada and the United Kingdom.
"The return on investment for Anzo should be six to 12 months. Anzo may sell the gloves at the current market price of US$70 to US$75 per box of 1,000 pieces. The net profit for Anzo is expected to be in the region of RM150 million or more," said a person close to the glove-making company.
According to him, the factory has nine production lines that can churn up to 100 million pieces of gloves a month.
Anzo can increase the production lines to 12 or 15 should demand exceed supply, he said.
"The World Health Organisation has warned of a chronic global shortage of personal protective equipment including N95 masks and gloves brought about by the unprecedented Covid-19 pandemic.
"Further, Anzo has been seeking to diversify to mitigate loss of earnings from its current business of property development. The glove business is a lucrative business and it is expected that it will continue to prosper even post-Covid-10," he said.
The stock opened one sen higher at 17.5 sen today, giving it a market capitalisation of RM147 million.
Ever imagine once in a life time trend for yr co share to go up...but the co owner go n sell it at rm1.80...where the rest counter moving...this counter no action at all ..
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....
skyhin
523 posts
Posted by skyhin > 2020-06-30 11:24 | Report Abuse
aiyo ..still low compare comfort .......limit up 3.40 pls ....