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how and what you notice ?
Eagle88 ( Date: 14-Oct-2024 17:41) Posted:
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Notice accumulation.
Francisgohyc ( Date: 14-Oct-2024 16:28) Posted:
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Battery going to die, have to wait awhile before rebounce back to 36cent
Top Glove&rsquo s Q4 losses narrow to RM3.6 million on higher sales proposes bonus issue of warrants
This translates to a loss per share of 0.04 sen compared with last year&rsquo s loss of 5.76 sen per share
TOP Glove recorded a net loss of RM3.6 million (S$1.1 million) for the fourth quarter ended Aug 31, narrowing from its RM461.7 million net loss the previous year.
The glove manufacturer on Thursday (Oct 10) said its losses shrunk on higher sales volume as customers continued to replenish glove inventories, leading to higher utilisation rates and enhanced cost efficiency.
This translated to a loss per share of 0.04 sen compared with last year&rsquo s loss of 5.76 sen per share.
Revenue for the fourth quarter was 75 per cent higher year on year at RM835.3 million, up from RM476.1 million in Q4 of FY2023.
This was due to Q4 of FY2024 seeing a 91 per cent surge in sales volume compared with the same period last year.
Top Glove saw especially strong growth from the US where sales volume soared 120 per cent quarter on quarter, driven by a high number foreign manufacturers&rsquo gloves being placed on the US Food and Drug Administration&rsquo s import alert list.
Moreover, the company anticipates greater sales volume growth in the coming quarters as US tariffs on China-made medical gloves are set to kick in.
On Sep 13, the United States Trade Representative decided it would raise tariffs for China-made medical and surgical gloves to 50 per cent by 2025 and 100 per cent by 2026 for its final tariff revision.
No dividends were proposed by the board of directors for the quarter under review. Net dividends per share were last recorded as 1.20 sen for 2022.
This brings full year revenue to RM2.5 billion up by around 11 per cent from FY2023&rsquo s RM2.3 billion revenue.
Full year losses have fallen 93 per cent to 62 million compared with 925 million for FY2023.
Top Glove also announced that it is proposing a bonus issue of up to 405,964,951 warrants on the basis of one warrant for every 20 existing ordinary shares.
Through the proposed bonus issue of warrants aims, the glove manufacturer said it aims to reward shareholders by enabling them to own warrants which are tradable on Bursa Securities without incurring any cost.
It also said it aims to give shareholders the opportunity to further increase their equity participation in the company through the exercise of the warrants at a pre-determined price.
This will also strengthen Top Glove&rsquo s capital base by increasing the size of its shareholders&rsquo funds pursuant to the exercise of the warrants while enabling it to raise additional funds for its working capital requirements and capital expenditure.
The warrants will be issued at no cost to entitled shareholders and the exercise price will be determined by the board at a later date.
For illustrative purposes, assuming the exercise price of the warrants is set at RM1.09 per warrant &ndash a premium of 19.4 per cent to the volume weighted average market price of Top Glove shares for the last five trading days &ndash the company could rake in gross profits of up to RM442.5 million from the exercise of the warrants.
Some RM300 million of the profits will fund the construction of new glove factories and the refurbishment of existing factories, while the remainder will be used for working capital requirements.
Slowing move up, keep for long term
Because of warrants? Like another fund raising?
stlimst ( Date: 10-Oct-2024 16:16) Posted:
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Funds and investors may come in after digesting the results !!! LOL
Eagle88 ( Date: 10-Oct-2024 17:17) Posted:
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No wonder more companies want to be delisted from SGX and to be listed in Malaysia !!! Many are on the queue !!!
Eagle88 ( Date: 10-Oct-2024 17:15) Posted:
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Malaysia side dropped 2%, Singapore side dropped 5% !!! Really dont know why !!!
Eagle88 ( Date: 10-Oct-2024 17:11) Posted:
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Not yet decided. Will decide later.
PiRPiR ( Date: 10-Oct-2024 16:23) Posted:
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Fully agree with you.
stlimst ( Date: 10-Oct-2024 16:16) Posted:
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Does anyone know that is the price to buy the mother shares when exercising these Warrants?
===============
01:58 AM EDT, 10/10/2024 (MT Newswires) -- Top Glove (SGX:BVA, KLSE:TOPGLOV) proposed to undertake a bonus issue of up to 405,964,951 warrants, according to a filing with the Singapore Exchange on Thursday.
The issue involves issuance of the warrants on the basis of 1 warrant for every 20 existing shares held by the company's shareholders.
The warrants can be exercised within a time period of five years, the filing added.
===============
01:58 AM EDT, 10/10/2024 (MT Newswires) -- Top Glove (SGX:BVA, KLSE:TOPGLOV) proposed to undertake a bonus issue of up to 405,964,951 warrants, according to a filing with the Singapore Exchange on Thursday.
The issue involves issuance of the warrants on the basis of 1 warrant for every 20 existing shares held by the company's shareholders.
The warrants can be exercised within a time period of five years, the filing added.
If the results are that good, then why the share price dropping instead of rising?
Strange market this SGX.
Strange market this SGX.
Eagle88 ( Date: 10-Oct-2024 15:25) Posted:
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Book price is 0.16
4Q results are much better than analysts have forecasted !!! TP to be revised soon !!!
Eagle88 ( Date: 10-Oct-2024 14:09) Posted:
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Funds will be coming in to accumulate more.
TG is going to increase the average selling price of glove by US$ 1.00 !!! This will be extra profits for TG !!!
PRESS RELEASE Top Glove Corporation Bhd (Company No. 199801018294 [474423-X]) For Immediate Release TOP GLOVE DELIVERS HIGHEST SALES VOLUME GROWTH POST PANDEMIC Sales Volume maintains upward momentum amidst sustained order inflow, soaring 91% in 4QFY2024 compared to 4QFY2023 and rising 19% in FY2024 versus FY2023 Group confident of a return to profitability in FY2025 Shah Alam, Thursday, 10 October 2024 Top Glove Corporation Bhd or &ldquo Top Glove&rdquo today announced its financial results for the Fourth Quarter (4QFY2024) and full financial year 2024 (FY2024) ended 31 August 2024, achieving its strongest Sales Volume (Glove Sales Quantity) growth since the peak of the pandemic in 2021, as it maintains an upward trend towards profitability. For 4QFY2024, Top Glove delivered a robust performance despite persistent challenges in the business environment. The Group posted Sales Revenue of RM835 million, representing a 75% increase from 4QFY2023, and charted Profit After Tax of RM8 million, which is a substantial improvement of 102% year on year, supported by enhanced operational efficiency as well as land disposal gains. Sales Volume also saw exceptional growth of 91% versus 4QFY2023. For FY2024, the Group registered Sales Revenue of RM2.52 billion, an uptick of 11% from FY2023. Loss After Tax which factored in gains from land disposal, reduced considerably to RM18 million, a commendable upsurge of 98% against FY2023. Meanwhile, the Group&rsquo s full year EBITDA turned positive at RM251 million, recording an improvement of 261% compared with FY2023. Sales Volume rose by 19% from FY2023. The Group&rsquo s notably improved performance was attributed to increased Sales Volume as customers continued to replenish glove inventories, leading to higher utilisation rates and enhanced cost efficiency. The Group saw especially strong growth in the U.S. where Sales Volume soared 120% quarter on quarter, which was further driven by the high number of foreign manufacturers&rsquo gloves being placed on the U.S. FDA&rsquo s import alert list. With the impending imposition of high tariffs by the U.S. on China made medical gloves, the Group anticipates a greater increase in Sales Volume growth in the quarters to come. Media Contact: Michelle Voon [email protected] +603-3362 3098 (ext.2228) +6016 668 8336 Investor Contact: Qiuvy Chong [email protected] +603-3362 3098 (ext.2234) +6012 265 8973 2 The Group&rsquo s bottom line for 4QFY2024 was affected by the sudden drastic weakening of the U.S. Dollar against the Ringgit. In response, the Group has revised its selling prices upwards, the effects of which will be realised from November 2024 onwards due to the time lag. Raw material prices were mixed quarter on quarter, with average natural latex concentrate prices trending downward by 1% to RM6.61/kg, while average nitrile latex prices rose 8% to USD0.96/kg. Mr Lim Cheong Guan, Managing Director of Top Glove remarked, &ldquo We are pleased that the Group' s financial performance has improved significantly over the course of FY2024, bringing us closer to breaking even. Our full year EBITDA is positive while Sales Volume growth continues to be healthy. These are strong indicators of market resurgence and we are well positioned to ride the recovery wave. Our consistent progress has been driven by ongoing improvement initiatives, and with the continued support of our employees, the Group is confident we are well on the path to profitability and sustainable growth.&rdquo Rewarding Shareholders with 1-For-20 Bonus Issue of Warrants The Group has proposed a bonus issue of up to 405,964,951 warrants on the basis of 1 warrant for every 20 existing Top Glove shares, subject to shareholders&rsquo approval at the upcoming AGM in January 2025. The warrants are exercisable anytime within 5 years from the date of issuance, the exercise price of which will be announced at a later date. The proposed bonus issue of warrants offers Top Glove shareholders the opportunity to increase their equity participation in the Group, by exercising the warrants at a predetermined price during the tenure of the warrants, rewarding loyal shareholders for their continued support. The exercise will also strengthen the Group&rsquo s capital base, enabling it to raise additional funds without incurring additional interest expense, as compared to bank borrowings. Sustainability Milestones In July 2024, Top Glove successfully delivered its first shipment of natural rubber gloves to Europe fully traceable to their plantation origins, demonstrating the Group&rsquo s commitment to full compliance with the EU Deforestation Regulation (EUDR), achieved ahead of the initial 30 December 2024 deadline. Signifying its ongoing commitment to sustainability and corporate responsibility, the Group received an &lsquo A&rsquo in the MSCI ESG Ratings in July 2024, which is an improvement over its &lsquo BBB&rsquo rating in 2023 and marks its highest achievement since its initial participation in 2019. The MSCI ESG Ratings measures a company&rsquo s management of financially relevant ESG risks and opportunities, with assessments carried out based on publicly available information. In September 2024, the Group also released the results of a Life Cycle Assessment (LCA) which evaluates the environmental impact of a product throughout its entire life cycle, from raw material 3 extraction to disposal. The LCA which was carried out on Top Glove&rsquo s conventional nitrile powder free gloves and biodegradable nitrile powder free gloves, revealed that carbon emissions for its biodegradable nitrile powder free gloves were 8.3% lower than that of its conventional nitrile gloves, reflecting Top Glove&rsquo s continual efforts to reduce its environmental footprint and advance sustainability in its product offerings. More information on the LCA results is available here: https://www.topglove.com/single-press-release-en?id=633& title=top-glove-releases-industry-leadinglife-cycle-assessment-results-for-nitrile-gloves Additionally, Top Glove was awarded the EcoVadis Sustainability Bronze Medal for the 2nd year running, with a 12% improvement in scoring from 2023, placing it amongst the top 19% of all companies and industries evaluated at the time of publication in September 2024. In terms of the Company&rsquo s EcoVadis Carbon Scorecard, Top Glove&rsquo s carbon management performance also improved, transitioning to an advanced level for 2024 from an intermediate level in 2023. This recognition reflects the Group&rsquo s effectiveness to consistently meet sustainability criteria including environmental impact, labour and human rights, ethics and sustainable procurement outlined in the methodology adopted by EcoVadis, a globally trusted provider of business sustainability ratings headquartered in Paris with a network of over 130,000 rated companies. Top Glove also garnered the Overall Excellence Award at the National Corporate Governance & Sustainability Awards (NACGSA) 2024 in September 2024, ranking #7 amongst the 20 winners of this prestigious accolade and standing out amongst the 854 listed companies in Malaysia which were assessed by the Minority Shareholders Watch Group (MSWG). This win highlights the Company&rsquo s unwavering commitment to corporate governance and sustainability and its continuous efforts to uphold industry leading standards. Positioned for Profitability As recovery for the glove industry continues to gain traction, the Group anticipates continual improvement in sales orders in line with more positive demand supply dynamics. Moreover, glove sales to the U.S., which have already been increasing exponentially, are expected to receive an additional boost with the United States Trade Representative (USTR)&rsquo s recent announcement of impending tariff increases for Chinese medical gloves from the current 7.5% to 50% effective January 2025, and to 100% by January 2026. To ensure the Group is well positioned to meet the rapidly returning glove demand, installation of advanced production lines, which had been temporarily halted due to oversupply, will resume at Top Glove&rsquo s newer factories. However, the Group maintains a cautiously optimistic approach for capacity expansion plans in light of the volatile business environment which can be affected by geopolitical 4 factors. The Group&rsquo s long term outlook for the glove industry remains optimistic, as gloves are an essential, single use item in the healthcare industry, for which there is no viable replacement to date. Mr Lim stated, " We are pleased to have concluded our financial year 2024 on a positive note. We are now on the final leg of our recovery journey and certain of turning profitable within the new Financial Year 2025, as glove orders continue their uptrend. The Group has every confidence in the long term prospects for the glove industry whose fundamentals are intact and robust, and looks forward to far better times ahead.&rdquo ### About Top Glove Corporation Bhd Top Glove Corporation Bhd is listed on the Bursa Malaysia Stock Exchange Main Board and Singapore Exchange Mainboard. It is also one of the component stocks of the FBM Top 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index and the Dow Jones Sustainability Indices (DJSI) for Emerging Markets. A Forbes Global 2000 company, Top Glove is currently the world&rsquo s largest manufacturer of gloves with an established corporate culture and good business direction of producing consistently high quality, cost efficient gloves. Top Glove has over 2,000 customers worldwide and exports to more than 195 countries. Summary of key information: As at 10 October 2024 Number of Factories 47 factories (41 in Malaysia, 5 in Thailand and 1 in Vietnam) comprising: 36 glove factories 2 latex concentrate plants 3 chemical factories 1 gamma sterilisation factory 1 glove former factory 2 packaging material factories 1 dental dam factory 1 face mask factory Number of Marketing Offices 7 (Malaysia, USA, Germany, Brazil, China, Thailand and Vietnam) Number of Glove Production Lines 784 5 Glove Production Capacity 95 billion pieces per annum Number of Employees 11,600
https://links.sgx.com/FileOpen/TopGlove_4QFY2024_Financial_Results_10.10.2024.ashx?App=Announcement& FileID=821521
https://links.sgx.com/FileOpen/TopGlove_4QFY2024_Financial_Results_10.10.2024.ashx?App=Announcement& FileID=821521
Eagle88 ( Date: 10-Oct-2024 14:09) Posted:
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SBB 10% of issued shares, expect 10% up of the share price very soon !!! LOL
Bonus warrants of 1:20 is good for 5 years, so can keep for long2 until the mother share price hit the roof in the next few years !!!
It is all very positive for TG with all the catalysts coming in !!! HUAT AH !!!
Bonus warrants of 1:20 is good for 5 years, so can keep for long2 until the mother share price hit the roof in the next few years !!!
It is all very positive for TG with all the catalysts coming in !!! HUAT AH !!!
biper66 ( Date: 10-Oct-2024 13:33) Posted:
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We can' t compare the hey days during pandemic times
Over time, stocks get depleted and need to replenish.
With US tariff coming hard next year for Chinese makers,
there wl be some diversion to malaysian makers which
i' m opined they wl benefit fm it.
Improvements in earnings wl be seen but not explosive
like b4.
My Opinions only.....PDYODD
Over time, stocks get depleted and need to replenish.
With US tariff coming hard next year for Chinese makers,
there wl be some diversion to malaysian makers which
i' m opined they wl benefit fm it.
Improvements in earnings wl be seen but not explosive
like b4.
My Opinions only.....PDYODD
Chansenghoe1971 ( Date: 10-Oct-2024 14:02) Posted:
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