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UGHealthcare share worth keeping?
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Everyday
Master |
11-Jul-2021 14:28
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UGHealthcare 3rd factory supposed to be ready end June 2021...additional capacity of 1.2B gloves. Below announcement was in Sept last year. By now the factory may be ready or about to be ready which will boost production..Even if ready later  will still help UG especially with world shortage of gloves... UG Healthcare Acquires Land for Production Capacity Expansion For construction of new manufacturing facility of 1.2 billion pieces of gloves to increase anticipated total installed capacity to 4.6 billion pieces of glove per annum by end June 2021 Close proximity to the Group&rsquo s existing manufacturing facilities will further enhance economies of scale Singapore, 8 September 2020 &ndash UG Healthcare Corporation Limited 优 格 医 疗 集 团 (&ldquo UG Healthcare&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ), a disposable gloves manufacturer with its own established global downstream distribution business that markets and sells disposable glove products under its proprietary &ldquo Unigloves&rdquo brand, is pleased to update that it has acquired a piece of land through the acquisition of UG Engineering Sdn Bhd, which holds the property for a consideration of RM5 million (equivalent to approximately S$1.64 million) (the &ldquo Property&rdquo ). The Property is a vacant leasehold industrial land measuring approximately 17,233m2 and it is strategically located within close proximity to the Group&rsquo s two manufacturing plants in Seremban, Negeri Sembilan, Malaysia. Mr Lee Jun Yih, Executive Director and Finance Director of UG Healthcare said, &ldquo Having invested and strengthened our distribution network in key strategic markets over the last few years, we believe it is timely for us to expand our production capacity to narrow the gap between our upstream manufacturing supply and downstream distribution market demand. We have commenced work on this newly acquired land. We will work towards the completion of the new manufacturing facility that will add 1.2 billion pieces of gloves per annum by end June 2021. As this property is in close proximity to our existing manufacturing facilities, we are able to leverage and further enhance economies of scale.&rdquo On 11 August 2020, the Group announced that it has brought forward its planned additional production UG Healthcare Corporation Limited Page 2 of 3 capacity of 500 million pieces of gloves per annum in one of its existing manufacturing facilities by March 2021. The increase will raise the total anticipated installed production capacity from the current 2.9 billion pieces of gloves per annum to 3.4 billion pieces of gloves per annum. With further expansion in its production capacity of an additional 1.2 billion pieces of gloves per annum in the new production facility, the total anticipated installed production capacity will increase to 4.6 billion pieces of gloves per annum by end June 2021. This will be a 59% increase in total installed production capacity from the current production capacity of 2.9 billion pieces of gloves per annum.  |
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Everyday
Master |
11-Jul-2021 11:30
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Health Ministry expects daily cases to decline within a week or two, says Dr Noor Hisham 
 
 
 
![]() KUALA LUMPUR (Bernama): The Health Ministry (MOH) expects the country&rsquo s daily Covid-19 cases to stabilise and show a decline in the next one to two weeks&rsquo time, said Health director-general Tan Sri Dr Noor Hisham Abdullah.
He said that the vaccination drive nationwide and public health controls such as the current movement control could flatten the curve of the pandemic again. He said the spike in new cases over the last few days was due to more targeted screenings being implemented, especially in Selangor and Kuala Lumpur, which are currently under the enhanced movement control order. " The MOH had expected that with the lockdown in the Klang Valley areas, the daily cases will increase due to the implementation of the targeted and community screenings. " However, I am confident that with better movement control methods, we will see a more stable total number of cases as well as a drop within a week or two. At the same time, the vaccination process must be expedited,&rdquo he said. He said this when appearing as a guest on the Bernama TV programme &lsquo The Nation&rsquo , entitled " Covid-19: Apa Lagi Ikhtiar Kita&rdquo (Covid-19: Measures To Be Taken), hosted by Bernama chairman Datuk Ras Adiba Radzi here, Saturday (July 10) night. Dr Noor Hisham also said that from the experience and lessons learned from the second wave of Covid-19 previously, the country would need to be more cautious and not rush to open several sectors that could trigger a surge in new cases. He said continued compliance by all parties as well as the enforcement of the standard operating procedure (SOP) in the field, such as the manufacturing sector, needed to be enhanced in an effort to control more infections, especially those involving workplace transmissions. In explaining the capacity situation at several hospitals, which were reported to be overcrowded with Covid-19 patients, he said the MOH was actively increasing the hospitals&rsquo capacities to accommodate patients, especially those under Category Four and Category Five, in the intensive care units (ICUs). " The problem we face is that the Category Four and Category Five patients take a long time to be treated in the ICU, between two to five weeks, including requiring ventilators. " These are the constraints we face because the number of patients in Category Four and Category Five is also increasing. That&rsquo s why the MOH is doing its best to increase the hospitals&rsquo capacity,&rdquo he said. There are five categories of the Covid-19 disease. Category One - asymptomatic Category Two - mild disease Category Three - moderate disease (pneumonia, not requiring oxygen) Category Four - severe disease (pneumonia and requiring oxygen) and Category Five - critical disease (multiple organ impairment, possibly requiring assisted ventilation). July 10 saw Malaysia hit another record high of 9,353 new cases, with 29 new clusters, including 19 linked to workplaces. - Bernama |
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Everyday
Master |
11-Jul-2021 11:04
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Why down? Share yr views
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Sgvale
Supreme |
11-Jul-2021 07:45
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Down la. Write so much. | ||
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Everyday
Master |
11-Jul-2021 05:37
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Tmr Mon opening & ending depends on willing buyers and sellers. If there are more buyers than sellers price will go up. Fri closed at 0.565. Mon opening 0.570 upwards? Lets see....what is the mkt sentiment for UG? There are 5 days each week for the share price to perform.Which direction will it go? | ||
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yamseng
Supreme |
10-Jul-2021 16:31
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next week, RS and UG will rocket up up  UP !!! huat ah  currently with PE of less than 5,,, another 20% up is possible |
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Everyday
Master |
10-Jul-2021 13:19
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Glovemakers brace for adverse effects amid extended movement control in MalaysiaObservers say Singapore-listed glove plays Riverstone Holdings and UG Healthcare, however, should be more insulated
UPDATED SAT, JUL 10, 2021 - 5:50 AM (Business Times)  ![]() When queried by The Business Times, Top Glove declined to provide the exact number of factories that were affected by the latest EMCO restrictions. 
PHOTO: REUTERS
Singapore ONCE lauded as pandemic darlings, glove manufacturers are in for a rough time ahead as they are forced to shutter factories in certain parts of Malaysia in line with an extended movement control order (EMCO). Starting July 3, Malaysia imposed stricter movement curbs across 34 sub-districts in Selangor and 14 localities in Kuala Lumpur in a bid to curb the rising number of Covid-19 cases. Glove manufacturers were previously classified as " essential services" - which allowed them to remain open during previous MCOs. The latest EMCO measures, however, have been a surprise as they do not allow glove factories to operate.  
As a result, share prices of Malaysia-listed glove makers have come under pressure. Since the announcement of the EMCO on July 1, Kossan has lost 4 per cent and Hartalega has shed 3.3 per cent. Top Glove, which is dual-listed on the Singapore and Malaysia bourses, has fallen 8.1 per cent on the Singapore Exchange and 8.4 per cent on Bursa Malaysia   
 
The trio are likely to see their production capacities slashed. Maybank Kim Eng analyst Wong Wei Sum in a July 7 report said the latest suspension of glove factories in Selangor is expected to affect about 55 per cent of Top Glove' s production capacity, and all the production capacities of Hartalega and Kossan. In a statement, Top Glove said it has suspended operations in the Selangor state of Malaysia in the wake of the EMCO. The group said it is awaiting clarifications from Malaysia' s National Security Council. When queried by The Business Times, Top Glove declined to provide the exact number of factories that were affected by the latest EMCO restrictions. Top Glove' s smaller peer Hartalega said its two factory locations in Selangor - in Bestari Jaya and Sepang - have been victims of a " full shutdown" . As these two facilities produce all of Hartalega' s gloves, the company has sounded warnings of a " significant impact" to glove supply for both local and international healthcare value chains. " Should the EMCO period be prolonged (to) after July 16, there will certainly be grave impact to the global supply of nitrile gloves, given that Hartalega is the world' s largest exporter of nitrile gloves," the company added in a statement. Kossan Rubber Industries, which has factories in Selangor, said all production capacity in areas under the EMCO has been temporarily halted. As a result, the company is expecting 4 per cent of its annual production output to be affected by the EMCO. Other Malaysian glove makers that could suffer similar setbacks include Supermax Corp, which has a manufacturing facility in Klang and the glove arm of property player Mah Sing Group, which has a manufacturing factory in Klang. The two other Singapore-listed glove plays Riverstone Holdings and UG Healthcare, however, should be more insulated. UGHealthcare has two manufacturing plants in Seremban, which are not affected by EMCO measures. Riverstone has more than 90 per cent of its dipping lines located mostly in Taiping, Perak, said CGS-CIMB analyst Ong Khang Chuen. " Riverstone' s operations in Selangor are mostly for cleanroom processing, hence the cleanroom glove segment might be impacted slightly more than its healthcare glove segment during the EMCO period," added Mr Ong. However, Riverstone on June 6 said it would temporarily close its manufacturing facilities in Perak after positive virus cases were detected among the factory workers there. Coupled with a limit on workforce capacity of 60 per cent, the group is expecting a capacity loss of some 200 million pieces of gloves or 2 per cent of its total annual production capacity. When approached by BT for comment, Riverstone declined to do so and said the situation " remains fluid" . The various shutdowns could hurt Malaysian glove makers in the longer term, said CGS-CIMB analyst Walter Aw, as global glove buyers find themselves with no alternative but to turn to producers in other countries such as Thailand, India and Vietnam. " Assuming that the EMCO period is not extended beyond its July 16 expiry date, we believe the glove sector' s revenue will decline by 2.1 per cent," said Mr Aw. But United First' s head of research for Asia Justin Tang does not see a " drastic impact" on glove supply globally. " There will definitely be an impact on production, but it will probably not be as severe as what we saw last year given that countries around the world are getting their populations vaccinated," said Mr Tang. He added that countries could have " stockpiled" personal protective equipment last year, which would result in reduced demand this year.   |
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Everyday
Master |
10-Jul-2021 07:01
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On the 11th of Aug 2020 it was 1.12 the highest for past 12 months....hard to get this price now but at least it must recover.......to 0.70 onwards | ||
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Everyday
Master |
10-Jul-2021 06:46
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On Dec 17th 2020 and Mar 31st 2021  UG was at 0.560 then gradually  move up to 0.73 over the days.. Let' s hope for the best..... |
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Everyday
Master |
09-Jul-2021 18:30
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Thanks for the good news !
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FreedomAngelz
Veteran |
09-Jul-2021 17:38
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21 days till August....hold your shares! Dividend is coming! | ||
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Everyday
Master |
09-Jul-2021 17:19
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Today opened 0.545 and closed at 0.565. Good improvement. | ||
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Everyday
Master |
09-Jul-2021 15:13
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Selangor EMCO will be over by next Fri (  July 3 to July 16) The current prob is temporary. UG is not affected as they are in Seremban. | ||
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Everyday
Master |
09-Jul-2021 14:51
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MARGMA reiterates call for glove factories in Selangor to be allowed to operate under EMCOKUALA LUMPUR (July 8): The Malaysian Rubber Glove Manufacturers Association (MARGMA) has reiterated its call to the government to allow glove factories in areas under the Enhanced Movement Control Order (EMCO) in Selangor to operate. MARGMA said it is making the call again as it has received many queries and flood of messages from embassies, hospitals and the healthcare sectors from across the world as they are concerned about a supply shortage of medical gloves. " Notwithstanding the huge economic losses to the nation, we nevertheless have a more important duty and responsibility to ensure no disruption to this very essential medical item, for the nation as well as the 195 countries who depend on our supply pipeline," MARGMA president Dr Supramaniam Shanmugam said in a statement today. " Remember that Malaysia is the undisputed world leader in this field. We do have a duty to perform," he said. On July 4, MARGMA issued its first call to the government to allow glove factories in Selangor to continue operating, after many areas in the state were placed under EMCO from July 3 to July 16. In its statement today, MARGMA said the association has assured the authorities that it will supervise and monitor its members to observe and to practise the strictest compliance in their workplaces with all the standard operating procedures (SOPs) laid out by the Health Ministry. It added that MARGMA has a special unit that will work with the ministry in managing and supervising the manufacturers in Selangor. Supramaniam said the directive for glove makers to cease production in areas under EMCO took the industry by surprise as medical gloves have been recognised as an essential personal protective equipment item for the medical and frontline healthcare workers. " It is incomprehensible as surgery and the examination of patients of critical cases cannot be done without donning a pair of protective medical gloves. It is in the healthcare SOPs for sure. Healthcare workers must be protected in order to protect humanity," he said. Additionally, MARGMA shared the expressed concern of one of its global buyers, French healthcare and medical glove distributor Mathieu Roturier of Euromedis SA. " Malaysia must perform its obligations to France and to the world to ensure adequate supply of medical gloves to the hospitals. This sudden closure is sending a bad signal that Malaysia is not capable to fulfil its global supply as a leading medical glove producer. It is about responsibility also," the association cited Roturier as saying. |
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Everyday
Master |
09-Jul-2021 11:27
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Now UGMove up fr 0.545 opening to 0.565 (11.26am) Top Glive & Riverstone also went up....sentiment improving | ||
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Everyday
Master |
09-Jul-2021 09:29
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Opened 0.545 and shot up to 0.560 by 9.27am. Sentiment improving!  | ||
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Hellvish
Senior |
08-Jul-2021 20:13
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Can ss those who have thank you in privately? 
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Everyday
Master |
08-Jul-2021 17:16
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Closed at 0.545. Sentiment low. | ||
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Longtermer
Elite |
08-Jul-2021 16:40
Yells: "A disciplined investor is a wealthy investor" |
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Didnt know then dun anyhow post, friend..  
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1c2e3s
Veteran |
08-Jul-2021 16:37
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the world market going thru correction
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