Top Glove

Re: Top Glove

Postby winston » Sat Dec 19, 2020 11:28 am

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Analysts remain positive on Top Glove, deems it 'undervalued at current prices'

by Felicia Tan

CGS-CIMB has maintained it's “add” recommendation albeit with a lower target price of RM8.90 ($2.93) from RM10 previously.

“We cut our target price to RM8.90, based on 16x CY2022 price-to-earnings (P/E), -0.5 standard deviation (s.d.) of its 5-year mean (previously 17x P/E)”.

“The lower P/E is to account for ongoing concerns on ESG-related issues, particularly related to its foreign workers.


“We gather that TOPG has already commenced operations at seven plants, with plans to recommence operations at seven plants a week for the next three weeks”.


Source: The Edge

https://www.theedgesingapore.com/capita ... rketreport
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Re: Top Glove

Postby winston » Tue Dec 29, 2020 2:47 pm

It has also lost 36.56% from its recent peak of RM9.60 on Oct 19.

The world largest glove maker’s market capitalisation has also fallen to RM49.94 billion, a far cry from its RM78.73 billion apex.
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Re: Top Glove

Postby winston » Wed Dec 30, 2020 9:16 pm

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Based on Asia Analytical’s calculation, Top Glove will have room to buy back an additional 89 million shares as of end-November before Lim hit the creeping rule threshold.

Source: The Edge
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Re: Top Glove

Postby winston » Mon Jan 04, 2021 8:30 pm

Top Glove declares 20% special dividend for remaining three quarters of FY21

by Syafiqah Salim

KUALA LUMPUR (Jan 4): As its share price was sliding, Top Glove Corp Bhd sprang a surprise on investors by announcing that the company will be declaring a special dividend of 20% for the remaining financial quarters in the financial year ending Aug 31, 2021 (FY21).

The special dividend will be on top of its existing dividend policy of a 50% payout ratio on profit after tax and minority interests (PATAMI), said the glove manufacturer in a filing with Bursa Malaysia this afternoon.

Top Glove shareholders will receive dividend cheque of 67.17 sen per share with payout ratio of 70%. Based on today’s closing of RM5.50, a total dividend of 83.67 sen per share, Top Glove is offering a yield of 15.2%.


Source: The Edge

https://www.theedgemarkets.com/article/ ... ividend-20
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Re: Top Glove

Postby winston » Wed Jan 06, 2021 9:45 am

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Top Glove – BUY

Maintain BUY and target price of RM10.40, based on 11.0x 2021F PE or -3.5SD of its 5-year forward PE mean.

We like the stock for its scarcity safe-haven earnings growth that is unrivalled across the other sectors, more aggressive ASP pricing relative to peers’, and opportune capacity expansion to capture additional windfall profits during this period.

Offers compelling dividend yield of 16.5%. There is further upside should Top Glove increase its payout beyond its dividend payout policy of 50%.

Share Price Catalyst

Demand spike for gloves has translated into ASPs surging to unprecedented heights. Lofty ASPs are expected to be maintained throughout 2021, before assuming a
gradual normalisation over the following two years.

Earnings are expected to grow multi-fold at a 2-year CAGR of 450% (2019-21).

Source: UOBKH
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Re: Top Glove

Postby winston » Tue Jan 12, 2021 2:22 pm

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Gloves ASP to still rise in Jan and Feb 21

We remain positive on TOPG as we think it is undervalued (6.2x CY21F P/E) given its strong earnings prospects for at least the next 12 months.

TOPG recently announced it will raise 2Q to 4QFY8/21 dividend payout to 70% (from 50%), which translates into attractive FY21 dividend yield of 13%.

TOPG remains an Add, with 37% upside to TP of RM8.90 (16x CY22 P/E).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 576B290C6C
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Re: Top Glove

Postby winston » Mon Jan 18, 2021 2:15 pm

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Top Glove valuation at unprecedented low — RHB IB

by Anis Hazim Sharudin

KUALA LUMPUR (Jan 18): Top Glove Corp Bhd shares are trading at an unprecedented low price-to-earnings ratio (PER) of 4.9 times based on estimated earnings for the current financial year ending Aug 31, 2021 after what analysts believe was overdone selling on the stock as investors weighed the rubber glove manufacturer’s outlook against the global Covid-19 pandemic and usage of vaccines to curb the spread of the outbreak.

In a note today, RHB Investment Bank Bhd's (RHB IB) Alan Lim wrote that at Top Glove’s last closing share price of RM6.42, the stock's price has declined by 33% from its recent peak.

"With long-term glove demand growth remaining intact — even after Covid-19 ends — we believe that the selling on Top Glove shares is overdone.

"Recall that in 2011, after H1N1 ended, glove demand declined by only 1% year-on-year (y-o-y), and resumed its growth until today,” Lim said.

Source: The Edge

https://www.theedgemarkets.com/article/ ... %94-rhb-ib
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Re: Top Glove

Postby behappyalways » Mon Jan 18, 2021 9:35 pm

八点最热报 18/01/2021 顶级手套厂又被爆 工厂和员工宿舍环境恶劣
https://m.youtube.com/watch?v=cZ594_0BIdcd
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Re: Top Glove

Postby winston » Mon Mar 01, 2021 11:39 am

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Negative on its primary dual listing on HKEX

TOPG is proposing to issue up to 1.5bn new shares (raising RM7.7bn, incl. over-allotment of RM200m shares) with a dual primary listing on HKEX.

We are negative on this news given the dilutive impact of the exercise. We
estimate our FY21-23 EPS could be diluted by 11.2-15.1%.

Our TP is reduced to RM7.80 (14x CY22 P/E. -1 s.d of its 5-year mean).

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 185E68D49E
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Re: Top Glove

Postby behappyalways » Thu Mar 04, 2021 6:21 pm

Analysis: Top Glove bets on pandemic boom to propel ambitious $1.9 billion HK listing
https://www.reuters.com/article/BigStor ... SKBN2AV11H
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