Supermax

Re: Supermax

Postby winston » Sun Apr 15, 2018 7:11 am

Supermax boss apologises to PM for supporting Opposition in GE13

KUALA LUMPUR: Supermax Corp Bhd group managing director Datuk Seri Stanley Thai has expressed regret for getting involved in campaigning for the Opposition in the 13th general election (GE13).

Extending a formal apology to Prime Minister Datuk Seri Najib Tun Razak at a press conference here on Saturday, Thai said he was influenced by the Opposition's propaganda in the previous general election, and realised that it was wrong for him as a businessman to be involved in politics.

“As a member of the business community I like to see political stability. Businesses operating in Malaysia will continue to prosper with the sound economic policy of the ruling government that is led by Prime Minister Datuk Seri Najib.

“Foreign investors will continue to have full confidence to participate and drive the economic growth and continue to expand their investments in Malaysia,” he said.

During the press conference, Thai also expressed his disappointment with the state of Selangor's management of the water issue, as it had cost Supermax, one of the largest rubber glove makers in the world, millions of dollars and hindered its growth.

“Our last two projects there were delayed for two-and-a-half to three years due to the water supply issues in Selangor, where most of our plants are located,” he said, adding that Supermax has a total of 11 plants nationwide, and eight are located in Selangor.

Thai added that he believed that good governance and management are key to industry's growth, and that he will continue to fully support the government's policies.

Source: Bernama

https://www.thestar.com.my/news/nation/ ... C1F2wfk.99
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Re: Supermax

Postby winston » Thu Apr 26, 2018 2:39 pm

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CIMB Research upgrades Supermax, raises target price to RM3.47

KUALA LUMPUR (April 26): CIMB IB Research has upgraded Supermax Corporation Bhd (SUCB) to “Add” at RM2.85 with a higher target price of RM3.47 (from RM2.35) and said it now was more positive on SUCB’s current operations and future capacity expansion plans following a meeting with the company.

In a note April 25, the research house said SUCB’s glove production capacity will grow by 16.1% to 27.2 billion by end-2019.

It said this was thanks to ongoing rebuilding works on older plants and the addition of two new plants.

“We raise our FY18-20F EPS by 12.2-17.1% to account for higher glove sales and improved efficiencies.

“Moving forward, the valuation gap should narrow vs. the sector given better earnings visibility and more compelling risk-reward profile.

“Upgrade to Add, with target price raised to RM3.47 (15.2x CY19 P/E),” it said.

Source: The Edge

http://www.theedgemarkets.com/article/c ... rice-rm347
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Re: Supermax

Postby winston » Thu Aug 30, 2018 10:27 am

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Supermax’s 4Q net profit jumps 84% on higher sales

by Syahirah Syed Jaafar

KUALA LUMPUR (Aug 29): Supermax Corporation Bhd’s fourth quarter net profit surged 84% to RM9.84 million from RM5.34 million a year ago, thanks to higher sales.

Earnings per share for the quarter ended June 30, 2018 increased to 1.49 sen from 0.8 sen previously, the glove maker said in a stock exchange filing.

Quarterly revenue rose 5.3% to RM329.46 million from RM312.91 million a year ago, on improved sales of its natural and nitrile rubber gloves.

The group proposed a final dividend of two sen per share.

For the full year, net profit came in 59% higher at RM107.02 million against RM67.2 million previously.

Full-year revenue rose 16% to RM1.3 billion from RM1.13 billion which the group said was also due to capacity increase from its two newest plants.

Looking ahead, Supermax is positive of the industry as the global market for disposable gloves remains vibrant for both the natural rubber and nitrile variants, driven by various factors such as rising healthcare awareness and rising consumption.

It said the commercial production at the Taiping plant, which commenced on July 18, is expected to be fully operational by the end of September with an annual production capacity of 1.35 billion gloves.

Furthermore, construction works to build its 12th plant in Meru, Klang, which started in June, will further add to the group’s production capacity when completed in the second half of 2019, it said.

Supermax’s shares closed down 43 sen or 9.88% at RM3.92, with 4.62 million shares traded for a market capitalisation of RM2.57 billion.

Source: The Edge

http://www.theedgemarkets.com/article/s ... gher-sales
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Re: Supermax

Postby winston » Thu Aug 30, 2018 3:43 pm

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CIMB Research lowers Supermax to hold after weaker earnings

CIMB Research expects higher expenses from the contact lens segment given that Spermax plans to spend more on A&P.

KUALA LUMPUR: CIMB Equities Research has downgraded glove maker Supermax Corporation to hold from add with a lower target price of RM3.84 from RM4.53 earlier.

It said on Thursday the net profit for the financial year ended June 30, 2018 of RM107mil was well below its and consensus estimates.

“This is due to weaker-than-expected 4QFY18 net profit of RM9.8mil (-70.5% on-quarter) from:
i) higher operating expenses,
ii) spike in tax rates, and
iii) unrealised forex losses,” it said.

Supermax has proposed a one-for-one bonus issue that would potentially double its share base to 1.4 billion. This exercise is expected to be completed by the fourth quarter.

“We cut our FY19-20F EPS by 11.5%-19.5% to account for:
i) higher overall expenses, especially in the contact lens segment, and
ii) increase in tax rates,” it said.

Despite higher revenue growth of 0.7% on-quarter, Supermax’s Q4 net profit fell to RM9.8mil (-70.5% on-quarter).

On a full-year basis, FY18 revenue rose 15.8% on-year, driven by an uptick in sales volume with full contributions from Plants 10 and 11 and higher average selling prices (ASPs).

“Given the weaker-than-expected 4QFY18 net profit, we lower our FY19-20F EPS estimates by 11.5-19.5%.

“This is to account for:
i) increase in overall operating expenses, especially in the contact lens segment,
ii) higher tax rates, and
iii) lower associate contribution.

“Note that we are expecting higher expenses from the contact lens segment given that Spermax plans to spend more on advertisement and promotional activities (A&P) to grow this segment faster. We also introduce our FY21F EPS estimates,” it said.

Source: The Star

https://www.thestar.com.my/business/bus ... owVY3Qj.99
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