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Next year profit will continue to be stellar
Global rubber glove shortage to last beyond March 2022
By Azanis Shahila Aman - December 23, 2020
KUALA LUMPUR: The global shortage of rubber gloves will last beyond the first quarter of 2022, according to Malaysian Rubber Glove Manufacturers Association.
Margma expects the country' s export revenue to hit RM29.8 billion this year with global demand estimated to reach 360 billion gloves.
As for 2021, Margma projects an annual demand growth rate of around 15-20 per cent moving forward with projected export revenue to be RM34 billion in 2021 with global demand set to hit 420 billion pieces of gloves.
The current order leads time would be at least six to eight months, Margma president Dr Supramaniam Shanmugam said, while reminding desperate buyers looking to get quick and immediate deliveries or shipments about scammers and " con artists" .
As such, he said any company that claimed to have ready stock for new buyers were possibly scammers and con men looking for victims.
Supramaniam said Margma had issued several warnings about scammers and con artists intermittently since June this year.
" We continuously engage with the relevant authorities on this pressing situation and various enforcement activities have been carried out by the Malaysian authorities to weed out unscrupulous scammers," he said in a statement.
" Despite the efforts, many desperate and unsuspecting buyers had since been conned of millions of US dollars from all around the globe through various online transactions without receiving any gloves or receiving defective gloves," he added.
While trying to educate enquirers of the scams, Margma said there had been few callers who refused to accept official explanation, exposed themselves to the risk of being conned and fell prey to scammers due to their desperation and hope of making quick money.
Margma is working with the Malaysian Rubber Board (MRB) and the Malaysian Rubber Council (MRC) to step up surveillance and monitoring of such nefarious activities.
They would spare no one caught in the scam which is bringing shame to the country and damaging to the industry.l, it added.
Margma said the associations were working closely with the authorities to clamp down hard on those scammers and con artists and have the police prosecute them severely.
" In the meantime, MRB will be tightening the issuance of glove export licences and will carry out raids and spot checks on existing license holders.
" Recently, the MRB had taken actions against a few companies that had traded rubber gloves without licence.
" On that note, offenders have been charged in the courts," it said.
Just as the demand for gloves has reached historical proportions, Margma said the rubber glove industry was doing its best to produce as many gloves as possible while battling the demand and supply of raw material and human capital situations.
Margma said its members were upgrading and building new hostels to ensure a liveable and conducive atmosphere for their workers.
" As upgrading work is an on-going process that may take some time, we plead for understanding of some space and time for those under-going the process to carry through this exercise in order to meet Act 446 (Amendment).
" Members are seeking landlords who are willing to rent out their premises to house these workers and Margma is engaging with the relevant Ministries to seek their assistance and understanding on this matter," it added.
Another new COVID-19 virus variant detected in UK: Health minister
HUAT AH THIS COUNTER!
ROCKETING!!!!!!
ROCKETING!!!!!!
hi, can anyone clarify the dividend forecast?
Projected $0.065 cents for each share?
Did I read it correctly?
if so, that is... wow! or maybe i read it wrong...!?
Projected $0.065 cents for each share?
Did I read it correctly?
if so, that is... wow! or maybe i read it wrong...!?
New Covid-19 strain identified in Sabah, says Health Ministry
https://www.thestar.com.my/news/nation/2020/12/23/new-covid-19-strain-identified-in-sabah-says-health-ministry
https://www.thestar.com.my/news/nation/2020/12/23/new-covid-19-strain-identified-in-sabah-says-health-ministry
Bro, should be mid 2022 :)
UG new capacity will be up to enjoy the huge demand in 2021 to 2022.. cheers.
FreedomAngelz ( Date: 23-Dec-2020 17:38) Posted:
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One of the best forward plans for revenue and profit growth I have ever seen. Extremely
ambitious and knowledgeable of how to hit their targets.These guys really know how and where they are leading the company. This is a glove giant in the making,no two hoots.
ambitious and knowledgeable of how to hit their targets.These guys really know how and where they are leading the company. This is a glove giant in the making,no two hoots.
FreedomAngelz ( Date: 23-Dec-2020 17:38) Posted:
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The order for the medical gloves has been confirm to be able to substain till mid 2012
Yes. Hold it. Don't sell too early, you may not get it back.
Ushnisambatha ( Date: 23-Dec-2020 15:58) Posted:
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Global rubber glove shortage to last beyond March 2022
You made my day !
Longtermer ( Date: 23-Dec-2020 14:37) Posted:
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Achievable. Just look at the profit the Co.made!
Fluffyclouds ( Date: 23-Dec-2020 14:45) Posted:
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My tp for this one $1.
Sgvale ( Date: 23-Dec-2020 14:41) Posted:
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Won't fall below 0.625. Too Cheap
Some UG numbers to chew..
UG likely to make nett profit 100mil for FY21 or 16.2c EPS.
Coming year dividends hopefully can be 40% of PAT (TG giving 56%. Typical yr was 50%).
$40m divided by 615mil shares = 6.5c
Yield based on current price 62.5c will be 10.4%
Is this attractive?
Dyodd.. Cheers
Daily MACD and RSI show buy signal, the probability to win is always very high.
See 0.685!
very True indeed!
ss2017. ( Date: 22-Dec-2020 16:31) Posted:
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Friends, Please think of win-win situations.
All medical counters help to fight covid-19 (old and new viruses), they will be rewarded.
All healthcare and medical staff should be placed in heroes/heroines honour list in coming National Day awards.
All medical counters help to fight covid-19 (old and new viruses), they will be rewarded.
All healthcare and medical staff should be placed in heroes/heroines honour list in coming National Day awards.