This article was first published in The Business Times on 30 March 2022 By Mak Yuen Teen Top Glove, the largest glove manufacturer in the world with a primary listing on Bursa Malaysia and a secondary listing on the Singapore Exchange, had stellar financial performance when the COVID-19 pandemic hit, as it benefited from the huge surge in global demand for gloves. Its net profit attributable to... Source

Established in 1991, Top Glove Corporation manufactures and exports gloves to more than 195 countries worldwide. It is the world’s largest glove manufacturer that owns 26% of the world’s glove market share. Its factories are located across Malaysia, Thailand, Vietnam, and China. Besides gloves, the company produces healthcare and household products such as face masks, bacterial handwash, condoms, and dishwashing liquid. Top Glove has performed incredibly well in the past two years, owing to ballooning glove demand and prices during the pandemic. As the demand softens, the company’s share price followed suit. Here are 10 things I learned from the 2022 Top Glove AGM. 1. Revenue rose 126.1% year-on-year to an all-time high at RM16.4 billion in 2021 because of robust glove deman

Signs that Omicron may not be that virulent helped push the STI up Wall St hit a new all-time high on Friday despite strong inflation data Volume here was weak, averaging just over S$1b daily Traders also watching China Evergrande after Fitch report Travel, aviation, hospitality and healthcare stocks were in play DBS: “reopening stocks’’ may be close to their bottom Keppel shareholders vote in favour of SPH acquisition As Omicron fears fade, stocks recovered The Straits Times Index rose 34 points or about 1.1% to 3,135.61 last week, helped by a firm Wall Street that rebounded strongly on early indications that the Omicron variant of Covid-19 may be less deadly or dangerous than first thought. On Friday, the S&P 500 closed at a new all-time high of 4,712 despite the release of

The STI lost 157 points or about 5% at 3,041.29 for the month In early Nov, the outlook was positive as the index crossed 3,200 Most of the selling came in final 3 days after discovery of Omicron Wall St’s plunges were accentuated by Powell’s testimony about tapering Transport and hospitality stocks took a beating, healthcare counters benefited The tussle for control of SPH heated up with counter offer from Cuscaden Peak A strong start – but a weak finish On the first trading day of November, the Straits Times Index rose smartly to regain the 3,200 level that it had just lost a few days earlier. Hopes were high that the upward momentum and the crossing of 3,200 would enable the index to push ahead and, with the re-opening of economies everywhere together with the relaxation of mea

Sudden news of South African virus variant cut 2% off the STI at 3,166.27 Biggest selling came on Friday when index tumbled 1.7% Wall St also took a hit, major indices down 2.3-2.5% after earlier rise in the week on Powell’s re-appointment as Fed chair Bonds benefited from flight to safety, US 10-year Treasury yield plunged from 1.64% to 1.48% Travel and hospitality stocks were the losers, healthcare and glove maker stocks were the winners Economy is expected to grow 3-5% next year October’s manufacturing up 16.9% New virus, new problems A large, unexpected plunge on Friday because of news of a new Covid-19 variant cut 55.35points or 1.7% off the Straits Times Index at 3,166.27 meant that for the week, the index sustained a loss of 66 points or 2%. During Asian trading hours on Fri

The world’s largest rubber glove manufacturer, Top Glove, had an extraordinary year. It is one of the few companies that benefited from the COVID-19 pandemic as a result of increased demand for rubber gloves. Its revenue and net profit increased by 50.7% and 380.6% year-on-year respectively in 2020. On a nine-month basis, revenue and net profit even surged by 246.2% and 1,163.1% year-on-year respectively in 2021. Despite its stellar financial performance, some of its management practices in the past year have caught my attention. 1. Share buybacks The management embarked on a series of share buybacks after the company’s share price started losing steam in September 2020. The share price nosedived from RM9.60 — the highest closing price Top Glove has ever recorded

Wall St suffered from “The September Effect’’ with all its major indices weakening over the month The Straits Times Index was range-bound between 3,050-3,100 Singapore’s market cap was down 0.1% at S$845.5b SGX introduced SPAC listing rules SPH shareholders approved plans to set up separate media unit Wall St’s “taper tantrums’’, Fed statements and China Evergrande provided the main external drivers October may not be much different from Sep Online resource Investopedia said of last month: “One of the historical realities of the stock market is that it typically has performed poorest during the month of September’’. It goes on to say that the “Stock Trader’s Almanac” reports that, on average, September is the month when the US stock market’s

  Over the past 1 month, we have still seen weakness in the SG Glove makers. 📉📉   Riverstone, UGHealthcare and Top Glove.   Mainly due to talks of a vaccine rolling out in phases and the world eventually getting hold of it.. 💉   Each of them have broken their support that I talked about in my previous video and it seems like buyers are just not able to hold each time .     Joey here, Top Tier Remisier in Phillip Securities.   There are some signs of weakness from the trend indicators for now in the short term..   Join me as i dive into the charts for each of them to see if 𝐦𝐨𝐫𝐞 𝐬𝐞𝐥𝐥𝐢𝐧𝐠 𝐜𝐚𝐧 𝐡𝐚𝐩𝐩𝐞𝐧 𝐚𝐧𝐝 𝐢𝐟 𝐲𝐞𝐬, where to.   and �

  After the massive rally since May by more than 100% in some of the medical counters, over the past 2 weeks we have seen 𝐇𝐄𝐀𝐕𝐘 𝐒𝐄𝐋𝐋𝐈𝐍𝐆 coming back.. 😰😰   mainly the glove makers or those with products and services that cater to the medical industry...   There are due to talks about a vaccine being found for Covid19 which may be a 𝐧𝐞𝐠𝐚𝐭𝐢𝐯𝐞 for these companies as their revenue may be hit.. 😷     Joey here, Top Tier Remisier in Phillip Securities.   A lot of clients have asked if the uptrend is over for these medical counters.   Or perhaps if it may be a good time to accumulate on the cheap since they are at discounted prices again..   Well, watched this video rec

  Over the past 3 to 4 months, as Covid19 continues to ravage the world, we have seen some of the SG Medical stocks in play.. 😷   Some up by 20 - 30% while others have gradually rising 𝐛𝐲 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟏𝟎𝟎%.. yes, not kidding! 😲   However, over the past few weeks, we started to see some 𝐡𝐞𝐚𝐯𝐲 𝐩𝐫𝐨𝐟𝐢𝐭 𝐭𝐚𝐤𝐢𝐧𝐠 returning.. 😢   So is their upwards trajectory 𝐎𝐕𝐄𝐑?     Joey here, Top Tier Remisier in Phillip Securities.   Well, it depends on which stocks you are still looking at and also more importantly,   if they can hold above some of the 𝐂𝐑𝐈𝐓𝐈𝐂𝐀𝐋 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐥𝐞𝐯𝐞