Hartalega / Kuan Kam Hon

Re: Hartalega / Kuan Kam Hon

Postby winston » Wed Aug 05, 2020 9:51 am

not vested

HLIB Research maintains a BUY rating on Harta and upgrades its TP to RM24.10 (from RM20.12), on optimism that Hartalega will continue to focus on their capacity expansion plans from current 39bn to 44bn pieces by FY22 and expect to enjoy more upward “catch up” of ASPs in the coming quarters.

Technically, the stock is likely to rewrite all-time high of RM21.16 (3 Aug) following a bullish hammer candlestick pattern yesterday.

Higher targets are RM21.16-22.00-22.60 whilst supports fall on RM19.00-18.00-17.40.

Source: HLIB
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108503
Joined: Wed May 07, 2008 9:28 am

Re: Hartalega / Kuan Kam Hon

Postby winston » Wed Aug 05, 2020 10:00 am

not vested

Slowly but surely
Trading at mean; maintain HOLD


1QFY3/21 results were above expectations and we expect stronger earnings ahead given the steep ASP hikes.

We raise our FY21-23E EPS by 100%/190%/17% on higher ASPs assumptions.

Our new TP is MYR20.60 (from MYR12.15), based on a lower CY21E P/E of 27x (from 41x), being
its 5Y mean.

HOLD.

Prefer Kossan (BUY, TP MYR19.50) for its relatively undemanding CY21E P/E of 16x and 2-year (CY19-21E) EPS CAGR of 163%.

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... 20b54b.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108503
Joined: Wed May 07, 2008 9:28 am

Re: Hartalega / Kuan Kam Hon

Postby winston » Wed Aug 05, 2020 2:17 pm

not vested

Is Hartalega's record quarterly profit impressive enough?

by Justin Lim

It's net profit more than doubled to RM219.72 million.

Quarterly revenue expanded 43.7% year-on-year to RM920.09 million from RM640.1 million.

Market consensus forecast Hartalega's annual profit to be at RM1.32 billion for the financial year ending March 31, 2021 (FY21). This means Hartalega's 1QFY21 net profit only accounted for 16.6% of the full-year earnings consensus.

Malacca Securities revised target upwards to RM18.44, from RM18.00 previously, following the upward revision of price-earnings ratio (PER) at 55 times.

Public Invest's target price of RM11.10 is was one of the lowest among the research house analysts with a "neutral" call for the stock.


Source: The Edge

https://www.theedgemarkets.com/node/524898
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108503
Joined: Wed May 07, 2008 9:28 am

Re: Hartalega / Kuan Kam Hon

Postby winston » Thu Sep 03, 2020 11:48 am

not vested

Aug 11, 2020

Acquiring land adjacent to NGC

Hartalega is acquiring a 60.6-acre land in Sepang, Selangor for RM158.3m. This land is strategically located adjacent to its current NGC facility.

This land is able to host 4 glove plants with a total capacity of 19bn. This will increase Hartalega’s total installed capacity to 95bn pieces by end-2027F.

Reiterate Add, with an unchanged TP of RM24.30 (41x CY21 P/E).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 1F5CE5B638
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108503
Joined: Wed May 07, 2008 9:28 am

Re: Hartalega / Kuan Kam Hon

Postby winston » Wed Sep 16, 2020 7:49 am

not vested

Hartalega: Demand for gloves to outstrip production capacity over next three years

KUALA LUMPUR, Sept 15 — The rubber glove industry will not be able to meet market demand in the next three years, said Hartalega Holdings Bhd executive chairman Kuan Kam Hon.

“Glove dipping is a long process. The expansion or transition period (to meet the demand) is at least three years.

“Even in the fourth year, if you have extra (rubber gloves), they’d go into inventory building. When you have a supply shortage, you are not able to build up inventory,” he told reporters after the company’s annual general meeting here today.

Kam Hon said Hartalega, the world’s largest producer of synthetic rubber gloves, was expanding its capacity by about 20 per cent per annum, which is slightly more than the organic growth in the industry.

“Demand for rubber gloves in developed countries has increased by 30 per cent. While the per capita consumption used to be low, now the usage has more than doubled in developing countries,” he said.

He said in order to cater to this demand growth, as well as taking a long-term perspective towards the structural step-up in demand, Hartalega was accelerating capacity expansion via its Next Generation Integrated Glove Manufacturing Complex (NGC) in Sepang, Selangor.

“To date, we have commissioned 10 out of 12 production lines for Plant 6, while for Plant 7, the first production line is on track for completion next month,” said Mun Leong.

Hartalega is also scaling up expansion plans with the acquisition of 24.23 hectares of land adjacent to Plant 7.

This would see the construction of four additional plants, namely Plants 8 to 11, adding an installed capacity of another 19 billion pieces of gloves per annum once completed, he said.

“Our long-term capacity growth will be propelled by our next expansion phase, the NGC 2.0. We aim to commission the first production in the first half of 2022.

“Once fully completed by 2027, it will see the group’s total annual installed capacity increase to 95 billion pieces per annum,” added Mun Leong.

Meanwhile, the company has approved a final dividend payout of 2.1 sen per share for the financial year ended March 31, 2020.

Source: Bernama

https://www.malaymail.com/news/money/20 ... ee/1903473
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108503
Joined: Wed May 07, 2008 9:28 am

Re: Hartalega / Kuan Kam Hon

Postby winston » Thu Sep 24, 2020 9:25 am

not vested

Hartalega (HART MK)

Share Price: MYR14.50
Target Price: MYR20.60
Recommendation: Buy

Safe place to hide

We raise our FY21/22/23E EPS by 27%/125%/267% but our TP remains unchanged at MYR20.60 as we lower our CY21E P/E to 14x (-1SD of 5Y mean; from 27x) given that its earnings may taper in FY23E on more new supply. U/G Hartalega to BUY (from HOLD).

Valuations are undemanding with its CY21/22E P/E at 9x/12x and offers DY of 4%/7% in FY21/22E.

Hartalega is now our top pick for its share price (YTD: +165%) lagged its big-cap peers and its ASP may also catch up with its peers.

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... 40e5d9.pdf
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108503
Joined: Wed May 07, 2008 9:28 am

Previous

Return to E to K

Who is online

Users browsing this forum: No registered users and 2 guests

cron