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
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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

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

not vested

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
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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

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

not vested

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
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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

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

not vested

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
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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

Postby winston » Mon Jan 07, 2019 3:06 pm

not vested

Nov 2, 2018

Review

Supermax’s reported 1QFY19 net profit of RM35.9mn (+28.8% YoY).

Excluding gains of RM6.5mn from an insurance claim for consequential loss arising from a fire (Malacca plant towards end-2013), core net profit of RM29.4mn (+5.5% YoY) came in within ours and consensus estimates at 22.7% and 22.5% respectively.

YoY, PBT grew 29.6% to RM124.7mn, on the back of 17.6% growth in revenue to RM367.1mn.

We attribute the strong performance to:
i) higher sales volumes and
ii) increased production efficiency after the refurbishment of older rubber glove plants. PBT margin expanded by 1.3pp YoY to 14.4%.

QoQ, core profit surged 199% to RM29.4mn mainly due to some one-off cost incurred in the preceding quarter and higher effective tax rate of 51.0% recorded in 4Q18 compared against that of 31.7% in 1Q19.

Source: TA Securities
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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

Postby winston » Wed Feb 13, 2019 8:47 am

not vested

Supermax Q2 profit climbs on higher revenue

KUALA LUMPUR (Bernama): Supermax Corp Bhd's net profit for the second quarter ended Dec 31, 2018, rose to RM38.14mil from RM35.9mil recorded in the same period a year ago.

Revenue increased 14.6% year-on-year to RM385.1mil from RM335.91mil previously, following the commissioning of new replacement lines at its Perak plant and full-quarter contribution from plants 10 and 11, the group said in a filing with Bursa Malaysia today.

“The construction of our 12th plant has commenced and it will add to the group's production capacity when completed,” it said.

Supermax, Malaysia's largest own brand manufacturer and the world's second largest producer of rubber gloves, also reported basic earnings per share of 5.82 sen versus 5.42 sen previously.

“Global demand continues to grow at a rate of eight to 10% per annum and these positive factors continue to augur well for the company and the industry as a whole,” it said.

On its contact lens business, Supermax said it would continue to work on obtaining the necessary product licences and approvals, expand its product range to include other types of lenses such as toric and colour lenses, and increase the market penetration for its products globally.

Source: The Star

https://www.thestar.com.my/business/bus ... 5U6jb1r.99
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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

Postby winston » Wed Feb 13, 2019 9:55 am

not vested

Supermax Corp

Regaining its Super-iority

2QFY6/19 core net profit rose 23% qoq, bringing 1HFY19 core net profit to RM69.7m (+9.3% yoy), deemed in line at 54% of our FY19 estimate.

SUCB will continue to drive its earnings growth through capacity growth in its glove manufacturing unit. Contact lens unit to remain loss-making in FY19F.

Maintain Add, with unchanged TP of RM2.23 (18.3x CY20F P/E).

Source: CIMB

https://brokingrfs.cimb.com/_q_0j4Cdf7u ... wWPag2.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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

Postby winston » Wed May 29, 2019 11:43 am

not vested

Still a BUY.

FY19-21F earnings increased by 1-8% after assuming higher sales volume.

Accordingly, our TP rises to MYR1.88 from MYR1.85.

We like Supermax due to its exposure to the glove sector, which is expected to see stable growth of 8-10% annually in demand.

Its net gearing also declined to 24% in 3QFY19 (FY18: 28%).

Downside risks are industry overcapacity, currency, volatile raw material prices and a worse-than-expected performance from its contact lens division.

Source: RHB

https://research.rhbtradesmart.com/atta ... edc262.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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

Postby winston » Wed May 29, 2019 11:46 am

Regaining its Super-iority

2QFY6/19 core net profit rose 23% qoq, bringing 1HFY19 core net profit to RM69.7m (+9.3% yoy), deemed in line at 54% of our FY19 estimate.

SUCB will continue to drive its earnings growth through capacity growth in its glove manufacturing unit. Contact lens unit to remain loss-making in FY19F.

Maintain Add, with unchanged TP of RM2.23 (18.3x CY20F P/E).

Source: CIMB

https://brokingrfs.cimb.com/_q_0j4Cdf7u ... wWPag2.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: 103055
Joined: Wed May 07, 2008 9:28 am

Re: Supermax

Postby winston » Thu May 30, 2019 9:05 am

not vested

Trading Buy: SUPERMAX - 7106
(Last price: RM1.66, Potential upside +29.5%)


Company Profile
Supermax Corporation is a gloves manufacturer and since 2016 it has diversified into contact lens business.


Trading Catalyst

SUPERMAX is a leading international manufacturer (export to over 160 countries, such as the US, EU, Middle East, Asia and South Pacific countries), distributor and marketer of high-quality medical gloves. It has 12 factories manufacturing various types of natural rubber and nitrile latex glove.

Since 2016, SUPERMAX diversified and became Malaysia’s very first home-grown contact lens manufacturing company. It has successfully commissioned its manufacturing facility in Malaysia after carrying out extensive R&D activities in the UK. With its very own brand, AVEO and the global trade name AveoVision, it is exported to Europe, Japan, North America, Latin America, Middle-East, West Africa, South Korea, South Asia, Eastern Europe and Asia-Pacific Countries.

With the ringgit trading near RM4.20/USD, we believe it may translate to better earnings for the company and investors are likely to take some exposure within the export-oriented sector such as gloves in the near term.

Technical View
Resistance: RM1.87 / RM2.00 / RM2.15
Support: RM1.57 / RM1.52
Cut loss: RM1.50

Source: Bloomberg, 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: 103055
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to S to Z

Who is online

Users browsing this forum: No registered users and 2 guests