Suppose to start moving soon.....the river already so calm for weeks with movement between 0.85 and 0.90.....Hopefully the long sideway will end and bounce up by a week or 2......high possibility for the bounce....im looking at TP 1.20
Today Top Glove released its 1QFY2021 report. You can access the full report here.
The stock has been trading at below RM7 level for the better part of the last few weeks on a myriad of news perceived as bad. Albeit all that, the company posted a net profit of RM2.38 billion for the quarter. They have approximately 8.2 billion outstanding shares. This gives the company an EPS of RM0.29 for the quarter. Let's do a bit of calculating:
- Assume the profits don't increase (they are expected to, but we will be conservative).
- This would mean an EPS of RM1.16 for FY2021.
- This translates into a forward P/E of 6 at price RM7 (as of writing this, the price is RM6.84)
This make is one of the lowest valued stocks in the entire stock market, with only 5 companies having forward P/Es of below 6 at the time of writing this.
If we assume that a stock is fairly priced at P/E 15, this would mean that the fair value of Top Glove is RM17.40.
At the same time, one of Top Glove's main competitors in the glove manufacturing market - Hartalega, has a consensus forward P/E of about 19.5 based on its current market price.
Let's assume that the market assigns the same valuation to Top Glove as it does to its direct competitor and simiarly-sized peer Hartalega. In this case, Top Glove's market price would be RM22.62.
Very establish developer..Quaterly Financial Results are improving... Sept 20 Q results better than earlier Q... Net Income improved...Cash in Hand improved ... already venture in to glove business..hmmm
Further to our announcements on 20 November 2020 and 4 December 2020. In connection to the Proposed Diversification, Mah Sing wishes to announce that MSHSB has received the Certificates of Registration for latex patient examination glove and polymer (or nitrile) patient examination glove from Registrar Corp confirming that MSHSB has registered with the FDA for the financial year 2021. This announcement is dated 10 December 2020.
Wow, her mother has given her certificate to spread legs.
Fact box: When and which Covid-19 vaccines are likely to be available in Asia
BEIJING/TOKYO/SEOUL/MANILA/TAIPEI/JAKARTA/DHAKA/HANOI (Dec 11): Trial data from Pfizer Inc with partner BioNTech SE, Moderna Inc and AstraZeneca Plc has shown their experimental vaccines are effective in preventing novel coronavirus infection. While regulatory processes are underway, few Asian countries expect to receive significant amounts of the vaccines initially. Here are estimated distribution time lines, supply deals announced and clinical trials being held in the region.
Australia The country has secured around 140 million doses: 53.8 million from AstraZeneca, 51 million from Novavax Inc, 10 million from Pfizer, and 25.5 million from distribution programme COVAX. It expects delivery of 3.8 million doses of AstraZeneca's vaccine in January and February next year and plans to begin inoculations in March.
China China has not announced supply deals with Western drugmakers, which instead have partnered with private companies in the country.AstraZeneca's vaccine may be approved in China by mid-2021 and its Chinese partner Shenzhen Kangtai Biological Products Co Ltd plans annual production capacity of at least 100 million doses by the end of this year. For the Pfizer/BioNTech vaccine, a unit of Shanghai Fosun Pharmaceutical Group Co Ltd plans a Phase II trial. Tibet Rhodiola Pharmaceutical Holding Co is bringing in Russian vaccine candidate Sputnik V and plans early and mid-stage trials in China. China has also approved three vaccine candidates developed by Sinovac Biotech Ltd and state-owned China National Pharmaceutical Group (Sinopharm) for emergency use, and Sinopharm hopes its two candidates will get conditional approval for general use this year.
Japan Japan has deals to buy 120 million doses from Pfizer/BioNTech in the first half of next year and 120 million from AstraZeneca - the first 30 million of which will be shipped by March 2021 - and 250 million from Novavax. It is also in talks with Johnson & Johnson and has a deal with Shionogi & Co Ltd. Experts said vaccine makers would need to conduct at least Phase I and II trials in Japan before seeking approval for use.
South Korea The country has deals to buy 20 million doses each from AstraZeneca, Pfizer and Moderna and another 4 million doses from Johnson & Johnson's Janssen, enough to cover up to 34 million people.It will procure additional doses for 10 million people through COVAX.Inoculation is likely to start in the second quarter of next year to allow time to observe possible side effects.
India The head of the Serum Institute of India, which makes the AstraZeneca vaccine, said on Nov. 23 the positive late-state trial result of the candidate will allow it to seek emergency use approval by year-end, before securing approval for full introduction by February or March. India also expects a government-backed vaccine to be launched as early as February. It is also conducting a late-stage trial of Sputnik V.
Taiwan Taiwan aims to secure around 15 million doses initially, both via the COVAX scheme and by direct purchases from manufacturers, and may buy an additional 15 million doses. The government has said it hopes to begin vaccinations in the first quarter next year.
Malaysia The Southeast Asian nation has agreed to buy 12.8 million doses of the Pfizer vaccine, becoming the first country in the region to announce a deal with the U.S. drugmaker after some expressed reservations over the need for the ultra-cold storage that the vaccine requires. Pfizer will deliver the first batch of 1 million doses in the first quarter of next year.
The Philippines The archipelago announced a deal on Nov. 27 for 2.6 million doses of the AstraZeneca vaccine and is discussing a possible 1 million more, covering about 1% of a population of 108 million people.It is also seeking 20 million to 50 million doses from Sinovac and is in talks with others, including Pfizer.Vaccine makers can seek approval from Philippine regulators even if no clinical trial is conducted in the country.
Indonesia Southeast Asia's most populous country has secured 125.5 million doses from Sinovac, 30 million from Novavax, is in talks with AstraZeneca and Pfizer to buy 50 million doses each, and expects to get 16 million from COVAX.Indonesia is testing Sinovac's vaccine and preparing mass vaccination for medical staff and other frontline workers to start as soon as late January.
Vietnam A government official said COVAX vaccines would cover only 20% of the population and the country is likely to have a chance to secure separate deals soon, as demand is very high.
Bangladesh Bangladesh signed a deal with India's Serum Institute to buy 30 million doses of the AstraZeneca vaccine.It also expects to receive 68 million doses from global vaccine alliance GAVI at a subsidised rate, a senior health ministry official said.
Note: This is a shelf company without any paid up capital. It is also not registered for commencement of business. The above info is obtained from SSM Company Search.
THE little-known private company has the backing of heavyweights from the property sector. Home Minister Datuk Hamzah Zainuddin and Health Minister Datuk Seri Dr Adham Baba announced its entry into the vaccine scene.
Also at the announcement were the controlling shareholder of Mah Sing Group Bhd Tan Sri Leong Hoy Kum and property developer, Tan Sri Lim Yew Loong of the LYL group. The other notable names in GI Healthcare Resources are Sim Guan Yu and lawyer Rosli Dahlan who is the adviser.
For starters, Sinopharm, which is owned by China National Pharmaceutical Group and GI Healthcare Resources are sponsoring 10,000 doses of the Sinopharm vaccine to Malaysia.
Eventually, GI Healthcare Resources is expected to undertake the distribution of the Sinopharm vaccine. So far it is not known if GI Healthcare Resources will also go into the fill and finish process.
Sinopharm is one of the three leading vaccines producers from China whose product is being tested for phase three clinical trials in other countries where there are many Covid-19 cases. Among the countries participating in the test are Indonesia, Brazil and the United Arab Emirates.
According to latest reports, UAE has reported an efficacy rate of more than 90% while Indonesia has stated that it has yet to conclude the outcome of the phase three trials.
It does'nt take a rocket scientist to figure that the Share price of THE ASSET (The Underlying Share) will be close to if not less than the Exercise Price of the Warrant at expiry.
Historical data clearly shows that 95-98% of the investors lose money in CFD's. In fact. most issuer's around the world have this statement as a Disclaimer. 2 Pages of a Macquaire Issue Document can be viewwed in the following link. 2nd page contains all the DISCLAIMERS.
1. CFD's have ONE CERTAIN result. The issuer wins.In 95-98% of the cases the holder of these warrants at expiry lose ALL their investment.
2. Warrants, by themselvews, have ZERO VALUE. They require an Underlying Asset.
3. The issuers are permitted by law to hedge n the asset without disclosure.
4. The issuers are permitted to short-sell he asset when short-selling was banned on KLSE. The authorities call them "Permitted Short-sellers"
In all of the above, the investor has NO SAY. While doing all of the above, the ISSUER ensures that the price of the Actual Asset (The Share) is unjustifiably within the Exercise value of the Warrant (That really has no value).
To top it all, the SC says "An informed investor is a protected investor"
FYI, CFD's on Equity are banned in several countries including the USA. They are permitted on Indexes and Currency. Why are they banned elsewhere? The warrants they say are "Cash Settled". European Style more so :). Just like the casino.You call this investment ?
From time to time, you have the very same issuers of the warrants issuing Target Prices (THEIR target price) to conveniently suit them.
My only intention is to make people think about the wisdom in such speculative instruments. As if speculation on a REAL ASSET itself was not enough.
DO WE STILL NEED STRUCTURED WARRANTS ?
It's up to you !
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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....
IMP0ST0R
75 posts
Posted by IMP0ST0R > 2020-12-09 10:42 | Report Abuse
Dream on next wave . Better run before drop to 0.6