Top Glove

Re: Top Glove

Postby winston » Mon Oct 10, 2016 8:58 pm

not vested

Top Glove Corporation Bhd Corporation Bhd is the world’s largest rubber glove manufacturer, with 25% of the global market share and operations spanning Malaysia, Thailand, China, US and Europe.

With 28 factories, 500 production lines and a capacity of 46.6 billion gloves a year, it serves over 2,000 customers in more than 195 countries.

Top Glove Corporation Bhd specialises in producing a wide and diverse range of high quality natural rubber latex gloves (powdered/powder-free) and synthetic rubber gloves such as nitrile, vinyl, cast polyethylene (CPE) and thermoplastic elastomer (TPE) gloves for the healthcare, food service and other sectors.

Listed on Bursa Malaysia in March 2001 and the Singapore Exchange in June 2016, Top Glove Corporation Bhd has demonstrated steady growth with a compound annual growth rate (CAGR) of 25% for revenue and 29% for profit after tax over the past 15 years.

This year, Top Glove Corporation Bhd celebrates its 25th anniversary and continues to produce high quality gloves at an efficient low cost, based on its time-proven Business Direction. Not content to rest on its laurels, it aspires to increase its world market share to 30% by 2020 and is also pursuing M&A opportunities in similar and related industries.

Source: UOBKH
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: 101937
Joined: Wed May 07, 2008 9:28 am

Re: Top Glove

Postby winston » Thu Oct 13, 2016 7:47 am

Softer results for Top Glove

Competition leads to downward revision of price

PETALING JAYA: Glovemaker Top Glove Corp Bhd posted revenue and net profit of RM722.1mil and RM65.8mil respectively for its fourth quarter ended August 31, 2016.

The results were relatively softer as compared to the corresponding period last year due to increased competition in the second half of the financial year, which led to a downward revision of the average selling price.

In addition, volatility in raw material prices and foreign exchange created a mismatch in the cost pass-through system.

Despite the softer results in the fourth quarter, the group reported historical highs for its net profit and revenue for the full financial year 2016 (FY16).

It reported a 29% upturn in net profit of RM362.8mil and a 15.1% increase in revenue of RM2.9bil.

In a statement, the group attributed its financial performance to several initiatives which have been instrumental in quality enhancement and cost efficiency.

Furthermore, a stronger US, dollar coupled with lower raw material prices earlier in the financial year, boosted the group’s performance.

“Amidst a challenging business environment with substantial cost increases and intense competition, we have achieved another record performance and our best year yet.

“This is a credit to the internal quality and efficiency enhancements we have been implementing continually, as well as our management team and staff, who have worked hard to ensure we deliver a performance worthy of the Top Glove name,” said executive chairman Tan Sri Dr Lim Wee Chai.

The group completed the expansion of Factory 27 in Lukut in August 2016 while the expansion of Factory 6 in Thailand is expected to be completed by November 2016.

Meanwhile, the construction of a new facility, Factory 30 in Klang, is in progress and expected to commence production by April 2017.

By then, Top Glove will have a total of 540 production lines and a production capacity of 52.4 billion pieces of gloves per annum.

In line with its production capacity expansion, the group also recently acquired a factory in Klang, known as Factory 31.

The facility is estimated to produce 6 billion pieces of gloves per annum, with Phase 1 targeted to be operational by mid-2017.

Apart from that, the group foresees a competitive business landscape ahead, with the likelihood of oversupply and eventually, industry consolidation taking place.

However, Top Glove is confident of overcoming any challenges that may arise by enhancing its cost management and optimising the efficiency of its production lines.

The group views the potential consolidation as a merger and acquisition opportunity.

Honouring its commitment to enhance shareholder value, the board of directors has proposed a final dividend of 8.5 sen, bringing the total FY16 dividend payout to 14.5 sen, subject to shareholders’ approval at an upcoming AGM in January 2017.

This represents a 26% increase in dividend per share compared with the previous financial year and a dividend payout ratio of 50.3%.

Source: The Star
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: 101937
Joined: Wed May 07, 2008 9:28 am

Re: Top Glove

Postby winston » Mon Dec 19, 2016 8:42 am

not vested

Top Glove stays atop costs and currency volatility

By PC Lee

SINGAPORE (Dec 16): Maybank is upgrading Top Glove to “hold” from “sell” as its earnings outlook turn favourable.

In a Friday report, analyst Lee Yen Ling says the recent hikes in ASP (average selling prices) and high USD/MYR could more than offset higher raw material prices.

“We maintain our EPS forecasts but raise the stock to “hold” with higher target price of MYR5.30 ($1.71) from MYR4.25 based on its +1 standard deviation to mean PER of 20x given its near-term earnings growth outlook,” says Lee.

According to Maybank, raw material prices are still on the increase with latex price jumping to MYR6.22/kg presently and NBR (nitrile rubber) price for Dec at about US$1.06/kg.

However, Lee understands that Top Glove has raised the ASPs for both its latex and nitrile gloves in November by roughly 3-6%, partially compensating for the higher raw material costs.

Additionally, if USD/MYR is sustained at the current level of 4.46, it would more than offset for higher raw material prices. For FY17-19 EPS forecasts, Maybank has assumed for USD/MYR of 4.10 and latex price of MYR4.25/kg.

To recap, Top Glove’s 1QFY17 net profit of MYR73 million accounted for 23% and 21% of Maybank’s and consensus’ full-year earnings forecasts. However, net cash position has weakened to MYR259 million due to higher working capital.

1QFY17 revenue was sequentially stronger on higher USD/MYR of 4.22; improvement in the blended ASP denominated in USD and higher sales volume.

In addition, despite higher raw material prices, EBITDA margin also improved slightly to 14% due to the higher USD/MYR and slightly higher ASPs.

Shares of Top Glove last traded at $1.63.

Source: The Edge

http://smr.theedgemarkets.com/article/t ... up-content
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: 101937
Joined: Wed May 07, 2008 9:28 am

Re: Top Glove

Postby winston » Sun Feb 05, 2017 8:41 am

TAN SRI LIM WEE CHAI
Flagship: Top Glove Corp Bhd
Net worth: RM2.5bil

LIM’S wealth on the list of richest Malaysians is pretty straight forward and lean. It is through a 36.9% shareholding in Top Glove that Lim owns most of his wealth as the company is the world’s largest manufacturer and distributor of rubber gloves.

The group has 27 manufacturing facilities throughout Malaysia, Thailand and China with 484 production lines producing around 45 billion gloves per annum. Given its size and scale, Top Glove, which had a market capitalisation of RM8.51bil as of end-2016, has about 2,000 customers in over 195 countries around the world.

But the volatility in the global currencies, especially the ringgit and the US dollar, has a big influence on the share price of the stock. The weaker ringgit and a stronger dollar have been a boon for Top Glove as over 90% of its revenue is in US dollars.

But in 2016, Top Glove’s share price dropped 21% from RM6.80 to RM5.35, trimming Lim’s wealth by 22.7%. This year the stock has been trending upward from a low of RM4.20 as opinions over the counter are still mixed.

While the stronger dollar will help with the company’s earnings, on the flipside, Top Glove is susceptible to rising operating costs. The price of rubber is on an uptrend owing to a shortage in supply coupled with higher demand for rubber globally.

Such a challenge for Lim is not new as the rubber glove stalwart has seen the ups and downs in the price of natural rubber.

“The group is expanding rapidly as the demand for gloves, globally, is still very good and consistently increasing. But we have to continue to focus on quality and costing to sustain our business as the industry is very competitive,” he said in a report recently.

Source: The Star
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: 101937
Joined: Wed May 07, 2008 9:28 am

Top Glove

Postby behappyalways » Fri Mar 17, 2017 7:04 pm

Top Glove posts 21% fall in 2Q earnings to $26.3 mil on sharp rise in latex prices
http://www.theedgemarkets.com.sg/articl ... tex-prices
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 20475
Joined: Wed Oct 15, 2008 4:43 pm

Top Glove

Postby behappyalways » Sat Jun 17, 2017 5:27 pm

Top Glove posts 24% rise in 3Q earnings to $25 mil
http://www.theedgemarkets.com.sg/top-gl ... ngs-25-mil
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 20475
Joined: Wed Oct 15, 2008 4:43 pm

Re: Top Glove

Postby winston » Mon Jun 19, 2017 7:14 pm

not vested

Stock On the Move: Top Glove

BY IZWAN IDRIS

KUALA LUMPUR: Shares in Top Glove Corp Bhd are heading to a third day of straight losses after analysts, including those at UOBKayHian and MIDF Research downgraded, the stock on earnings worries.

At 3.30pm, the stock was down 12 sen, or 2.1% at RM5.49 with more than four million shares changed hands.

“Despite the fact that raw materials price have slowly recovered from its peak back in February, we continue to be wary of the movements of currency as well as raw materials price which could have an adverse impact on its earnings,” MIDF Research said in a note to client today.

The firm has a target price of RM5 for Top Glove, valuing the stock at 18 times its projected earnings in financial year ending Aug 31, 2018 (FY18).

Top Glove released its third quarter results ended May 31 on Friday.

Core net profit during dropped 6.4% to RM77.7mil compared with the immediate past quarter despite a 2.1% increase in revenue to RM869.9mil.

The group’s performance was impacted by deferred purchases by certain customers and lower margin due to the higher latex input costs.

“Downgrade to hold with a lower target price of RM5.48, following the latest revision to our earnings forecasts and the 22% share price rally since early-May,” UOBKayHian said

Source: The Star

http://www.thestar.com.my/business/busi ... 7zpJOCX.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: 101937
Joined: Wed May 07, 2008 9:28 am

Re: Top Glove

Postby behappyalways » Tue Jun 27, 2017 9:04 am

Top Glove launches 5 mil shares placement at $1.71 each
http://www.theedgemarkets.com.sg/top-gl ... t-171-each
血要热 头脑要冷 骨头要硬
behappyalways
Millionaire Boss
 
Posts: 20475
Joined: Wed Oct 15, 2008 4:43 pm

Re: Top Glove

Postby winston » Tue Oct 17, 2017 7:59 pm

Top Glove plans RM1bil acquisition

by Daniel Khoo

Top Glove will soon announce a major acquisition which will be around RM1bil, according to its chairman Tan Sri Lim Wee Chai.

“It is something good and we are 99% sure it’s in hand. We’ll announce it within the month,” he said at a press and analyst briefing at the company’s headquarters here on Tuesday.

The company that will soon be acquired by Top Glove is based in Malaysia and also produces gloves such as surgical gloves.

Top Glove said it is capitalising on mergers and acquisitons to achieve double digit growth in it revenue every year.

Source: The Star

http://www.thestar.com.my/business/busi ... cUFFVtR.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: 101937
Joined: Wed May 07, 2008 9:28 am

Re: Top Glove

Postby winston » Tue Oct 17, 2017 8:04 pm

not vested

Top Glove Q4 earnings up 51% to RM98m, to raise output and eyes M&As

by Joseph Chin

KUALA LUMPUR: Top Glove Corporation Bhd reported a 51% increase in its earnings for the fourth quarter ended Aug 31, 2017 at RM98.62mil and announced plans to increase production and explore inorganic expansion via mergers and acquisitions.

The world's biggest glove maker, said on Friday the earnings rose by 51% from the RM65.32mil a year ago while revenue increased by 24.9% to RM902.42mil from RM722.11mil.

Earnings per share were 7.87 sen compared with 5.21 sen. It rewarded shareholders with a final dividend of 8.5 sen similar to the previous quarter.

For FY ended Aug 31, 2017, its earnings fell 7.7% to RM332.70mil from RM360.73mil in FY16 during which Top Glove benefited from positive external factors of currency impact and lower raw material prices.

Revenue, however, increased by 18% to RM3.41bil from RM2.88bil a year ago due to the 7% increase in sales volume.

Commenting on the Q4 FY17 results, it said sales volume or quantity sold was exceptionally high, attaining growth of 13% versus 4QFY16.

“For the first time ever, double-digit quarter-on-quarter growth of 14% in an exceptionally strong comparison versus 3QFY17.

“The spike in sales volume followed increased sales in all regions, as well as a replenishment exercise by customers, after having put orders on hold in 3QFY17, owing to higher raw material prices. Sales Volume also rose with additional capacity coming on-stream,” it said.

On the FY17 results, Top Glove said the higher sales revenue was underpinned by an increase in average selling prices (ASP) arising from a surge in raw material prices, as well as a strengthening of the US dollar over the course of FY2017.

“Additionally, more sales of nitrile gloves, which command a higher ASP, coupled with new capacity, also helped move sales revenue figures higher.

“Internally, Top Glove’s good performance was credited to ongoing improvements in the manufacturing process, which enabled the group to manage costs more efficiently, reduce wastage and upgrade glove quality,” it said.

These include initiatives to increase automation, reduce downtime and conserve heat energy, electricity and water. The robust numbers achieved were also attributed to new capacity coming onstream and strong demand growth.

For FY2017, the average natural rubber latex price was RM5.76 per kg, 46.4% higher than FY16, while the average nitrile latex price was US$1.1 a kg, up 11.9% compared with FY16.

However, raw material prices were on the downtrend compared with 3QFY17, with average natural rubber latex and nitrile latex prices falling 21.3% and 26.4% respectively.

“Top Glove will continue to expand strategically. Its organic expansion plans include the construction of two new manufacturing facilities,” he said.

Lim said Factory 31, which will be operational by March 2018, and Factory 32 operational by December 2018, would boost the group’s total number of production lines by an additional 78 lines and production capacity by 7.8 billion gloves per annum.

“By December 2018, Top Glove is projected to have 31 glove factories, 628 production lines and a production capacity of 59.7 billion gloves per annum.

“Top Glove has also commenced preparations for its condom manufacturing facility, expected to be operational in 2018,” he said.

“While gloves will continue to be its core business, the group will diversify into other revenue sources,” it said.

Source: The Star

http://www.thestar.com.my/business/busi ... JJuBKKD.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: 101937
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 1 guest

cron