Posted by Keyman188 > 2020-06-03 14:25 | Report Abuse

KUALA LUMPUR (June 3): AmInvestment Bank Bhd, CGS-CIMB Securities Sdn Bhd and UOB Kay Hian Securities (M) Sdn Bhd have tightened their share margin financing standards for shares in rubber glove manufacturers following the recent rise in their stock prices, according to these financial services providers' circulars.

The share margin financing valuation changes involve shares in Top Glove Corp Bhd, Hartalega Holdings Bhd, Kossan Rubber Industries Bhd, Supermax Corp Bhd, Adventa Bhd, Comfort Gloves Bhd, Careplus Group Bhd and Rubberex Corp (M) Bhd, the circulars show.

AmInvestment's circular shows it has capped the share margin financing valuation for Hartalega at RM6.09 while the valuation for Top Glove is limited at RM6.21. AmInvestment's circular indicates share margin financing valuation for Kossan is capped at RM6.07 while the figure for Supermax is limited to RM4.37. Meanwhile, the share margin financing valuation for Adventa is limited to RM1.57 while the figure for Careplus is capped at 36 sen, according to the document.

CGS-CIMB's circular shows that it has capped the share margin financing valuation for Hartalega and Top Glove at RM9 and RM11 respectively while the limits for Kossan and Supermax are set at RM7 and RM5 respectively. For Rubberex and Comfort Gloves, the figures are capped at RM3 and RM2.80 respectively, according to the circular.

At UOB Kay Hian, the stockbroking firm is limiting the financing threshold to a 35% discount on the latest closing share prices of Hartalega, Top Glove, Kossan, Supermax, Rubberex, Comfort Gloves, Careplus and Adventa.

UOB Kay Hian has also issued a mandate on its normal share trade accounts where any transaction of rubber glove shares in excess of RM100,000 must be fully covered by cash.

Across Bursa at 12:30pm today, share prices of rubber glove manufacturers settled lower. Bursa's top decliner Hartalega fell RM1.52 or 11.93% to RM11.22 followed by Top Glove, the price of which dropped RM1.18 or 7.97% to RM13.62.

Bursa's healthcare index, which includes rubber glove manufacturers, settled down 5.67% to become the largest percentage decliner among the exchange's indices.

Besides AmInvestment, CGS-CIMB and UOB Kay Hian, it was reported that Maybank Investment Bank Bhd and RHB Investment Bank Bhd also tightened their share margin financing valuations on glove-related counters, starting yesterday, following the recent craze for glovemakers' stocks.

According to circulars issued by Maybank and RHB, margin financing caps were imposed on the shares in Hartalega, Top Glove, Kossan, Supermax, Rubberex and Comfort Gloves at lower valuations compared to their current share prices.


##https://www.theedgemarkets.com/article/aminvestment-cgscimb-uob-kay-hian-tighten-margin-financing-standards-glove-shares

Posted by apolloang > 2020-06-03 14:28 | Report Abuse

cepat cepat dato,datuks,tan sris go lend from banks if win masuk pocket if lose tak payah bayar balik just like in 1997/1998.....hahaha