Top Glove    Last:0.255    -0.005

Top Glove Make or Break

Thank you

msksmsks      ( Date: 20-Jun-2024 10:38) Posted: I' m not BB thus can' t answer yr question, Sir But nvr know .. One thing for sure, TG is turning ard and shld bodes well thus price recovery is in sight. Klein_Yeoman      ( Date: 20-Jun-2024 10:31) Posted: This week and next the price won't go up as the BBs will try and flush out all the contra players. Tio Bo?

 

I' m not BB thus can' t answer yr question, Sir

But nvr know ..

One thing for sure, TG is turning ard and shld bodes well
thus price recovery is in sight.

Klein_Yeoman      ( Date: 20-Jun-2024 10:31) Posted: This week and next the price won't go up as the BBs will try and flush out all the contra players. Tio Bo?

 

TG  is in early stages of recovery.

More importantly, the fwd guidance is positive which had not been
seen for awhile and also start to ramp up prodn.

There wl be more upside forthcoming .   

Numbers don lie 



 

 

This week and next the price won't go up as the BBs will try and flush out all the contra players. Tio Bo?

 

IMHO, there wl be a positive and significant impact once the roll out
of all these prodn lines soon

The cessation  comes amid of excess inventories that were built up
during covid previously 

This resumption of  ramp up prodn wl certainly boost both top and bottom llines
for TG

Cheers

msksmsks      ( Date: 20-Jun-2024 09:50) Posted: This sounds good and bodes well for Top Glove gg fwd.  Swee   In line with stronger glove demand, the company has also started to roll out more production lines, with its capacity up to 63 billion gloves per annum in Q3, compared to 60 billion per year in Q2.   Ng Yong Lin, its chief operating officer, said the group aims to roll out eight to 10 lines every month up to the end of the year, across its various factories. Top Glove has an overall production capacity of 95 billion pieces a year through 788 production lines.   As for its sales volumes, managing director Lim expects them to increase by 30 to 35 per cent in the next quarter.   Joelton      ( Date: 20-Jun-2024 09:43) Posted: &lsquo Storm has truly passed&rsquo : Top Glove swings back into the black with RM50.7 million Q3 profit Return to profit boosted by customers replenishing their glove inventories managing director says group well-positioned to meet growing glove demand   MALAYSIAN glove maker Top Glove Corporation : BVA +1.49% on Wednesday (Jun 19) reported a net profit of RM50.7 million (S$14.5 million) for the third quarter ended May 31, reversing a loss of RM130.6 million in the same period the year before.   Profit was driven by stronger glove demand as customers replenished their glove inventories after clearing excess stock, as well as contribution from the disposal of excess land, said the manufacturer in a bourse filing.   &ldquo The resultant higher utilisation coupled with ongoing quality and cost optimisation measures also positively impacted the bottom line,&rdquo said the company.   This net profit translates into an earnings per share of 0.63 sen, compared to a loss per share of 1.63 sen in Q3 FY2023.   Revenue for the period was RM636.9 million, up 20 per cent from RM530.6 million.   In an earnings call after the results, the group portioned out the contribution of the sale of excess land and gains from foreign exchange, which totalled around RM78 million.   Without this contribution, the group posted a core Ebitda (earnings before interest, taxes, depreciation and amortisation) of RM52 million, more than doubling its previous quarter&rsquo s core Ebitda of RM25 million.   Managing director Lim Cheong Guan noted that the group&rsquo s core Ebitda margin, which came in at 8 per cent for Q3 FY2024, is recovering towards its pre-pandemic level of 15 per cent. The improving Ebitda also signifies an ability to command pricing, he said.   In line with stronger glove demand, the company has also started to roll out more production lines, with its capacity up to 63 billion gloves per annum in Q3, compared to 60 billion per year in Q2.   Ng Yong Lin, its chief operating officer, said the group aims to roll out eight to 10 lines every month up to the end of the year, across its various factories. Top Glove has an overall production capacity of 95 billion pieces a year through 788 production lines.   As for its sales volumes, managing director Lim expects them to increase by 30 to 35 per cent in the next quarter.   Competition from China, foreign worker freeze Citing an example of the tide turning in Top Glove&rsquo s favour, Lim highlighted that the US recently hiked tariffs on medical gloves from China.   This presents an opportunity for Malaysian glove makers as Chinese manufacturers slow down their capacity expansion. The group also does not expect the Chinese players to compete heavily with Malaysia by lowering their glove prices, due to the low profit margin of gloves.   &ldquo Although the possibility remains that Chinese manufacturers may set up shop in other regions, they may not do nearly as well in the absence of their home ground advantage,&rdquo he said.   Meanwhile, the group remains hopeful that the Malaysian government will reconsider the May 31 deadline for foreign worker entry into the country and allow an extension.   Executive chair Lim Wee Chai said the group has been recruiting foreign workers prior to the deadline in anticipation of increasing its production capacity, and currently has a slight excess in its labour force that will be utilised as more production lines open.   Notwithstanding the foreign worker limitations, managing director Lim is positive that glove demand will continue to climb and Top Glove is well-positioned to meet it. He said: &ldquo I&rsquo m pleased to be able to say with finality that the storm has truly passed. In terms of outlook, the forecast can only be bright skies ahead.&rdquo   On a nine-month basis, the group remained in the red. It trimmed its net loss for the three quarters by 87.4 per cent to RM58.2 million, from RM463.5 million. Revenue for the period lowered 5.6 per cent to RM1.7 billion from RM1.8 billion.   The group noted that the average natural latex concentrate price was up by 20 per cent to RM6.77 per kilogram, while the average nitrile latex price rose 16 per cent to US$0.89 per kilogram.   Despite this increase, it was able to reduce its cost of production through multiple improvement initiatives, said Top Glove.   As glove demand grew, the group was also able to share out some of the cost increases with customers through upward revisions in average selling prices.

 

This sounds good and bodes well for Top Glove gg fwd.  Swee
 
 

Joelton      ( Date: 20-Jun-2024 09:43) Posted: &lsquo Storm has truly passed&rsquo : Top Glove swings back into the black with RM50.7 million Q3 profit Return to profit boosted by customers replenishing their glove inventories managing director says group well-positioned to meet growing glove demand   MALAYSIAN glove maker Top Glove Corporation : BVA +1.49% on Wednesday (Jun 19) reported a net profit of RM50.7 million (S$14.5 million) for the third quarter ended May 31, reversing a loss of RM130.6 million in the same period the year before.   Profit was driven by stronger glove demand as customers replenished their glove inventories after clearing excess stock, as well as contribution from the disposal of excess land, said the manufacturer in a bourse filing.   &ldquo The resultant higher utilisation coupled with ongoing quality and cost optimisation measures also positively impacted the bottom line,&rdquo said the company.   This net profit translates into an earnings per share of 0.63 sen, compared to a loss per share of 1.63 sen in Q3 FY2023.   Revenue for the period was RM636.9 million, up 20 per cent from RM530.6 million.   In an earnings call after the results, the group portioned out the contribution of the sale of excess land and gains from foreign exchange, which totalled around RM78 million.   Without this contribution, the group posted a core Ebitda (earnings before interest, taxes, depreciation and amortisation) of RM52 million, more than doubling its previous quarter&rsquo s core Ebitda of RM25 million.   Managing director Lim Cheong Guan noted that the group&rsquo s core Ebitda margin, which came in at 8 per cent for Q3 FY2024, is recovering towards its pre-pandemic level of 15 per cent. The improving Ebitda also signifies an ability to command pricing, he said.   In line with stronger glove demand, the company has also started to roll out more production lines, with its capacity up to 63 billion gloves per annum in Q3, compared to 60 billion per year in Q2.   Ng Yong Lin, its chief operating officer, said the group aims to roll out eight to 10 lines every month up to the end of the year, across its various factories. Top Glove has an overall production capacity of 95 billion pieces a year through 788 production lines.   As for its sales volumes, managing director Lim expects them to increase by 30 to 35 per cent in the next quarter.   Competition from China, foreign worker freeze Citing an example of the tide turning in Top Glove&rsquo s favour, Lim highlighted that the US recently hiked tariffs on medical gloves from China.   This presents an opportunity for Malaysian glove makers as Chinese manufacturers slow down their capacity expansion. The group also does not expect the Chinese players to compete heavily with Malaysia by lowering their glove prices, due to the low profit margin of gloves.   &ldquo Although the possibility remains that Chinese manufacturers may set up shop in other regions, they may not do nearly as well in the absence of their home ground advantage,&rdquo he said.   Meanwhile, the group remains hopeful that the Malaysian government will reconsider the May 31 deadline for foreign worker entry into the country and allow an extension.   Executive chair Lim Wee Chai said the group has been recruiting foreign workers prior to the deadline in anticipation of increasing its production capacity, and currently has a slight excess in its labour force that will be utilised as more production lines open.   Notwithstanding the foreign worker limitations, managing director Lim is positive that glove demand will continue to climb and Top Glove is well-positioned to meet it. He said: &ldquo I&rsquo m pleased to be able to say with finality that the storm has truly passed. In terms of outlook, the forecast can only be bright skies ahead.&rdquo   On a nine-month basis, the group remained in the red. It trimmed its net loss for the three quarters by 87.4 per cent to RM58.2 million, from RM463.5 million. Revenue for the period lowered 5.6 per cent to RM1.7 billion from RM1.8 billion.   The group noted that the average natural latex concentrate price was up by 20 per cent to RM6.77 per kilogram, while the average nitrile latex price rose 16 per cent to US$0.89 per kilogram.   Despite this increase, it was able to reduce its cost of production through multiple improvement initiatives, said Top Glove.   As glove demand grew, the group was also able to share out some of the cost increases with customers through upward revisions in average selling prices.

 

 

 

When the fundamentals of the Co improves
the fair value etc....wl be adjusted too

 

Nav 0.17
Market already paying a premium.
FV perhaps 23

 

Operationally, TG had done well with revenue up 20% compared
with corresponding qtr and incurred operating loss of 34mil
vs 120mil vis a vis comparison respectively

With the land sale, it boosted the bottom line and turned the
corner with profit of $62mil .    All these are in line with the 
restructing plan in place 

Worthing taking a look at the 
abstract of their statement: 

The Group' s more robust performance was drive primarily
by stronger glove demand as customers replenished their 
glove inventories hving cleared excess stocks  The resultant
higher utilisation coupled with on going quality and cost 
optimisation measures also positively impacted the bottom line.

The Group compliance journey is on track and progressing well ,
with the first batch of EUDR compatible natural rubbber gloves 
targeted to ship by July 2024

With the imposition of steeply increased tariffs on medical gloves
fm China , making it unfeasible for Chinese glove manufacturers 
to continue exporting to the US, Customers fm the US are expected
to start moving away fm outsourcing orders to China ahead of 2026
when tariffs take effect and Top Glove as a major exporter to the US 
is optimally positioned to capture more mkt share fm the potential 
trade diversion.

Collectively, all bodes well with TG if theitr execution plan is well
on track and wl turn around with profits aftermath 

Mkt is fwd looking.

 

Quarterly revenue rose 20% to RM636.88 million from RM530.62 million previously, as the growing glove demand enabled the group to share out some of the cost increases with customers through upward revisions in average selling prices (ASPs).

JessTrang      ( Date: 19-Jun-2024 19:39) Posted: Meaning the gain derived from land sales and currency gain and not from products sales, even though revenue rose 20%? Klein_Yeoman      ( Date: 19-Jun-2024 17:24) Posted: KUALA LUMPUR (June 19): Top Glove Corp Bhd (KL: TOPGLOV) has returned to the black after seven consecutive quarters of losses thanks mostly to land sale and currency gain. Net profit for the third financial quarter ended May 31, 2024 (3QFY2024) totalled RM50.67 million against a net loss of RM130.59 million in the previous year's corresponding quarter, its exchange filing on Wednesday showed. The company booked RM54.34 million from disposal property, plant and equipment, as well as RM22.33 million from unrealized foreign exchange gain. Quarterly revenue rose 20% to RM636.88 million from RM530.62 million previously, as the growing glove demand enabled the group to share out some of the cost increases with customers through upward revisions in average selling prices (ASPs).

 

Meaning the gain derived from land sales and currency gain and not from products sales, even though revenue rose 20%?

Klein_Yeoman      ( Date: 19-Jun-2024 17:24) Posted: KUALA LUMPUR (June 19): Top Glove Corp Bhd (KL: TOPGLOV) has returned to the black after seven consecutive quarters of losses thanks mostly to land sale and currency gain. Net profit for the third financial quarter ended May 31, 2024 (3QFY2024) totalled RM50.67 million against a net loss of RM130.59 million in the previous year's corresponding quarter, its exchange filing on Wednesday showed. The company booked RM54.34 million from disposal property, plant and equipment, as well as RM22.33 million from unrealized foreign exchange gain. Quarterly revenue rose 20% to RM636.88 million from RM530.62 million previously, as the growing glove demand enabled the group to share out some of the cost increases with customers through upward revisions in average selling prices (ASPs).

 

KUALA LUMPUR (June 19): Top Glove Corp Bhd (KL: TOPGLOV) has returned to the black after seven consecutive quarters of losses thanks mostly to land sale and currency gain. Net profit for the third financial quarter ended May 31, 2024 (3QFY2024) totalled RM50.67 million against a net loss of RM130.59 million in the previous year's corresponding quarter, its exchange filing on Wednesday showed. The company booked RM54.34 million from disposal property, plant and equipment, as well as RM22.33 million from unrealized foreign exchange gain. Quarterly revenue rose 20% to RM636.88 million from RM530.62 million previously, as the growing glove demand enabled the group to share out some of the cost increases with customers through upward revisions in average selling prices (ASPs).

 

What a flushed or sell down fm
0.365 to 0.335 so swiftly

Deliberate ??

Let's see

 

This might be the long awaited recovery of the glove sector .

Opined TG wl go much higher

msksmsks      ( Date: 19-Jun-2024 13:55) Posted: TG shld hv more upside fm now as the expectation is low,  IMHO msksmsks      ( Date: 19-Jun-2024 13:47) Posted: Encouraging to see TG return to profitability after these few years of losses. Lets see if it can retest recent high of 0.375 and head twds 40

 

TG shld hv more upside fm now as the
expectation is low,  IMHO

msksmsks      ( Date: 19-Jun-2024 13:47) Posted: Encouraging to see TG return to profitability after these few years of losses. Lets see if it can retest recent high of 0.375 and head twds 40

 

Encouraging to see TG return to profitability after these
few years of losses.

Lets see if it can retest recent high of 0.375 and head twds 40

 

halt till klse open from lunch break

Klein_Yeoman      ( Date: 19-Jun-2024 13:35) Posted: On hold is it? Cannot buy lei?!

 

On hold is it? Cannot buy lei?!