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RIVERSTONE HOLDINGS LIMITED
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Everyday
Elite |
27-Nov-2021 16:32
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New virus variant boosts sagging glove maker stocks in South-east AsiaFRI, NOV 26, 2021 - 4:21 PM
UPDATED FRI, NOV 26, 2021 - 4:34 PM
 The emergence of a new coronavirus variant in South Africa is giving a new lease of life to shares of South-east Asian glove makers, which had slumped this year after becoming one of the hottest pandemic trades in 2020.
PHOTO: BLOOMBERG
[SINGAPORE] The emergence of a new coronavirus variant in South Africa is giving a new lease of life to shares of South-east Asian glove makers, which had slumped this year after becoming one of the hottest pandemic trades in 2020. Producers of medical gloves surged Friday (Nov 26) on the possibility the new virus strain causes a jump in demand for protective gear, just like Covid-19 did last year. Sector bellwether Top Glove Corporation jumped as much as 15 per cent in Malaysia, the most since September 2020. Smaller peer Supermax Corporation climbed as much as 16 per cent, while Hartalega Holdings rose more than 11 per cent. Similar stocks listed in Singapore and Thailand also jumped. The magnitude of the bounce was biggest in months for some of the cohort, which had given up most of their pandemic gains this year amid vaccine rollouts, the economic reopening and forced labour allegations. An equal-weighted basket of the Malaysian manufacturers more than halved this year, with the 3 becoming the worst performers in the MSCI Asean Index. The rally was powerful enough to make the FTSE Bursa Malaysia KLCI benchmark outperform the MSCI Asia Pacific Index. It saw a modest 0.5 per cent decline compared to a 1.9 per cent slump in the regional benchmark. At one point last year, more than US$1 of every US$10 invested in the Malaysian stock market was a bet on gloves - a feat that makes the South-east Asian nation a play on global hygiene, much like South Korea and Taiwan are for semiconductors. |
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lifeisgood
Supreme |
27-Nov-2021 16:31
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After EPF done selling, Company may do a one time large special dividend to reward loyal shareholders.
Company right now is holding on to too much cash now. It may not need all the cash as its capex for phase 7 and 8 are nearing completion. |
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des_khor
Supreme |
27-Nov-2021 16:30
Yells: "Tell me who is God or Market Fortune Teller in this forum ??" |
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Next time see EPF got stakes one better lari kuat kuat ! | ||||
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Godwinlow
Elite |
27-Nov-2021 16:05
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To date, a total of RM18.1 billion has been withdrawn by 5.16 million members under the i-Lestari facility. Other measures included allowing members to lower their mandatory statutory contribution to EPF savings to 7% from 11%, effective April 2020 to December 2020. To assist members affected by the pandemic, the EPF launched the i-Sinar and i-Citra facilities which were intended to provide some financial relief. To date, this has involved the disbursement of a total of RM67.6 billion: First half of 2021. EPF have to sell about 50 billion worth of shares to raise cash to let malaysian withdrawn money. I believe second half malaysian are still withdrawing. Thats why selling of shares continue
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Godwinlow
Elite |
27-Nov-2021 16:02
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Hopes my below posts have helped you
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Godwinlow
Elite |
27-Nov-2021 16:00
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Wind22i
Supreme |
27-Nov-2021 15:58
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If u are buying at near 70 cents it is near the lowest..
So it shld be safe as compared to those who bought at 1.50.. Now is still near bottom and plenty of room to catchup with ug or tg gains..depends on the covid variant impact |
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Godwinlow
Elite |
27-Nov-2021 15:54
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Seems more like liquidity concerns to me. They have to sell shares to disburse funds to malaysian who wants to withdraw
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Godwinlow
Elite |
27-Nov-2021 15:53
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The EPF&rsquo s diversification into different asset classes, markets and currencies continued to provide income stability and added value to its overall return. As at end June 2021, the EPF&rsquo s investment assets stood at RM989.14 billion, of which 37% was invested overseas. In Q2 2021, overseas investments generated an income of RM8.71 billion, 59% of the total gross investment income recorded. To assist members affected by the pandemic, the EPF launched the i-Sinar and i-Citra facilities which were intended to provide some financial relief. To date, this has involved the disbursement of a total of RM67.6 billion: https://www.kwsp.gov.my/-/epf-records-rm34.05-billion-in-investment-income-for-1h-2021
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Godwinlow
Elite |
27-Nov-2021 15:45
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Other than their own liquidilty concerns, incompetent people managing their funds, or they think gloves are doomed. That why sell down. I cant think of anything else.
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beng1102
Elite |
27-Nov-2021 15:44
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Omicron is still not the ultimate. If Omega variant covid become true, all of use would be facing a nightmare.
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Godwinlow
Elite |
27-Nov-2021 15:43
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Pre flight never do swab test. Thats how relax western covid rules are. So take care. The party has began.
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des_khor
Supreme |
27-Nov-2021 15:43
Yells: "Tell me who is God or Market Fortune Teller in this forum ??" |
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Half is cash ? Why EPF still selling ?
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Godwinlow
Elite |
27-Nov-2021 15:37
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AMSTERDAM (REUTERS) - Dutch health authorities said that 61 people who arrived in Amsterdam on two flights from South Africa on Friday tested positive for Covid-19, and they are conducting further testing on Saturday to see if people are infected with the recently discovered Omicron coronavirus variant. Around 600 passengers arrived at Amsterdam' s Schiphol Airport on the two KLM flights on Friday and then faced hours of delays and testing due to concerns over the new virus variant. The Dutch Health Ministry estimated said on Saturday that 61 tests had come back positive. " Travellers with a positive test result will be placed in isolation at a hotel at or near Schiphol," health authorities said in a statement. " Of the positive test results, we are researching as quickly as possible whether they are the new variant of concern, now named ' Omicron' ." The Dutch government banned all air travel from southern Africa early on Friday. Health Minister Hugo de Jonge said that passengers already en route to the Netherlands would have to undergo testing and quarantine upon arrival. Passengers on the two KLM flights, from Cape Town and Johannesburg, said they were kept waiting on the tarmac for hours. " Vigorous applause because there is a BUS that has come to take us... somewhere," tweeted New York Times journalist Stephanie Nolen, a passenger on the flight from Johannesburg. " Bus to a hall to a huge queue. I can see Covid-19 testers in bright blue PPE (personal protective equipment) far on the distance. Still no snacks for the sad babies," she added in a second tweet. A spokesman for the health authorities in Kennemerland, the Dutch region that oversees Schiphol, said the positive cases were being analysed by a Dutch academic medical hospital to determine whether they are the new strain. The Dutch government separately on Friday announced the nighttime closure of bars, restaurants and most stores as it grapples with a record-breaking wave of Covid-19 cases that is swamping its healthcare system. |
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Godwinlow
Elite |
27-Nov-2021 15:29
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BRUSSELS (BLOOMBERG) - On Monday (Nov 22) morning, Austria' s near-nine million residents woke to life in lockdown. Days later, a new Covid-19 variant set off alarm bells across the world, Europe and the United States slapped a travel ban on countries in Southern Africa and health officials raced to get ahead of a new threat. It was the week the coronavirus reminded the world that the pandemic is far from over, delivering a combination punch of escalating infections, restrictions and a new mutation. The developments, marking a setback in the battle against the disease and a dent to the economic recovery, slammed equities and oil prices. Governments went to the tried and tested virus-fighting tools in their playbook as cases in Europe spiked. Germany tightened restrictions for the unvaccinated, France toughened rules on mask-wearing and health passes and Austria closed businesses from hotels to gyms. Belgium ordered nightclubs to close, and banned the public from indoor sporting events. Britain ruled out tightening pandemic rules, but was quick to halt flights from six countries once news of the variant - B.1.1.529 - emerged. The European Union proposed the same measure as several of its member states went ahead and restricted travel. For London, it was a case of once bitten, having learnt the price of dithering when it was slow to react to the Delta variant, which has half as many mutations as B.1.1.529. Travel bans may be unpopular in some quarters, but it is easier than hitting a weary public at home with lockdowns and other curbs on socialising. There is a sense that this script has become depressingly familiar after almost two years - but that familiarity also leavens the sense of panic that has greeted the arrival of previous variants. Across Europe, peoples' reaction to the recent news was far more muted than in the early months of the disease, a shift from fear, even panic, to resignation. This is the Covid-19 world. The foreseeable future will bring rises and falls in infections, variants, intensive care needs and deaths - as well as the accompanying litany of measures from masks to tests, partial or full lockdowns, travel limits and booster vaccines. In Italy for example, the first European country to impose a nationwide lockdown early last year, gone are the days when people disinfected the supermarket shopping before it entered their homes, and the daily toll of cases and fatalities monopolised attention. Back then, Italians watched aghast as army trucks were called into the northern town of Bergamo to ferry coffins away because the crematorium could no longer cope. A few days ago, even as the country' s daily infections were rising at the fastest pace in six months, the mood was far different. At a bar in a trendy area near Rome' s main railway station, a group of locals celebrated a 50th birthday with freshly-baked pizza and wine.  People sit at a bar in Rome on Nov 24, 2021. PHOTO: REUTERS No one wore masks as the partygoers milled about. Only a couple of the guests remarked afterwards that staff had failed to check vaccination certificates, as required by law. " As long as there are no further government directives related to the new variant, people will keep on living their lives as usual," said Dr Simone Schnall, professor of experimental social psychology at the University of Cambridge. " There' s currently a mix of emotions that also includes frustration or anger&hellip Many people just won' t be able to stomach the prospect of yet another largely compromised Christmas." BioNTech, which has developed one of the most widely used Covid-19 vaccines with Pfizer, offered another reason to not panic. It expects data on how the variant interacts with its shot within two weeks. A new version could be ready in 100 days. And more protection against the disease is coming - at some point - in the form of anti-viral pills. Covid-19 " moved into the human population through a biological accident" , said Dr Sarah Pitt, a virologist at the University of Brighton. " I don' t think we should be trying to ' live with' it or accept that it will become endemic. I think we should be trying to eliminate it as far as that is feasible in an interconnected world." If the vaccines still offer a chance of that, it wasn' t what markets heard on Friday.  Passengers queue to check in for a flight on Singapore Airlines at O.R. Tambo International Airport in Johannesburg, South Africa, on Nov 26, 2021. PHOTO: REUTERS They reacted to the variant body blow with a sell-off. European stocks fell the most since June last year, the Dow Jones dropped more than 1,000 points at one stage and oil tumbled through US$70 a barrel in New York for the first time since September. US Treasuries jumped, sending yields down the most in a year. For aviation and other travel-dependent segments, the spread of a new variant threatens a return to the disruption caused by Delta' s rise earlier in the year, when it delayed a rebound in flying at the start of the northern hemisphere' s summer high season. Investors are worried that a third summer may be put at risk if people hold back from making plans early next year. But health experts say it is going to take time to know what the variant means for the global virus battle. In the meantime, UBS AG economist Paul Donovan noted that fear of the virus is what causes the most economic damage. " We need to get used to the fact that there will be large numbers of variants appearing globally over the coming months and years," said Dr John Bell, professor of medicine at the University of Oxford, who has been working with Britain on its Covid-19 response. " Stay calm, track the data, understand this particular pathogen and respond. We will need to do this again and again in the future." As the week drew to a close, another taste of deja vu loomed. The World Health Organisation classified B.1.1.529 as a variant of concern and called it Omicron. Yet another Greek letter to add to the long-running Covid-19 conversation. |
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Godwinlow
Elite |
27-Nov-2021 15:28
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Django, eh eh
Django, eh eh Tsamina mina zangalewa Anawa ah ah Django, eh eh
Django, eh eh Tsamina mina zangalewa Anawa ah ah This time for Africa
This time for Africa We' re all Africa We' re all Africa
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Godwinlow
Elite |
27-Nov-2021 15:22
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https://www.youtube.com/watch?v=cI1jkLYcrecAnti-Covid-19 lockdown protests throughout Europe amid rising cases and increased measures. Just 4 days ago |
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tritonyeah6666
Senior |
27-Nov-2021 15:13
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Looks like no joke this omicron. --- " It took around two months for Delta to be labelled 'of concern' by WHO. Omicron, on the other hand, has received this classification within 72 hours of detection " ... https://www.euronews.com/next/2021/11/25/what-we-know-so-far-about-the-b-1-1-529-covid-variant-causing-concern-in-south-africa | ||||
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Godwinlow
Elite |
27-Nov-2021 15:09
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And the best thing is, RS market cap is only 1.05 B now
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lifeisgood
Supreme |
27-Nov-2021 14:46
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At end of Sep 2021, the Company has more than SGD 570 million cash. Whats the fear of holding on to Riverstone? None. And demand for clean room gloves continue to grow strongly despite endemic. And company will be producing 13 billion gloves compared to current 10 billion. Plus now have the OMICRON virus as new strong tail wind behind it. Buy more! |
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