Top Glove

[behappyalways]

Top Glove emerged as top short selling counter on Sept 20, investors shorted RM15.89 mil worth of shares
https://www.theedgemarkets.com/article/ ... -mil-worth

[winston]

not vested

Top Glove sits on RM860 mil paper loss on massive share buyback

by Ahmad Naqib Idris

Source: The Edge Malaysia

https://www.theedgemarkets.com/article/ ... re-buyback

[behappyalways]

Top Glove shareholders approve resolutions for HKEX listing plan at EGM
https://www.theedgesingapore.com/news/c ... g-plan-egm

[behappyalways]

Top Glove's 1Q net profit drops to RM186m from RM2.36b, sees challenging landscape
https://www.theedgemarkets.com/article/ ... ar-earlier

[behappyalways]

Top Glove 2Q net profit plunges 53% q-o-q, 98% y-o-y to RM88m as ASPs normalise to pre-pandemic levels
https://www.theedgemarkets.com/article/ ... ar-earlier

[behappyalways]

Top Glove’s listing application in HKEX officially lapses
https://www.theedgesingapore.com/news/i ... lly-lapses

[behappyalways]

Biggest rubber glove maker loses US$16b since pandemic peak
https://www.businesstimes.com.sg/consum ... demic-peak

[behappyalways]

Top Glove sees 99.2% plunge in 3QFY2022 earnings of $4.8 mil upon normalisation
https://www.theedgesingapore.com/capita ... malisation

[behappyalways]

NEWS: Top Glove sees ASPs reaching bottom
https://m.youtube.com/watch?v=YpIPjMlhI-o

[behappyalways]

I was quite surprised that share price drop to 20+...I thought it should trade around 40-50 cents. My guess was that it might actually turn out loss making for the quarter instead of Rm$15m profit expected by analysts.

Top Glove posts first quarterly net loss at RM53m since 2001 Malaysia listing
https://www.theedgemarkets.com/article/ ... ia-listing

Not vested...

For 4q2021, top glove posted 7.5 cents(RM) eps and nta of 75 cents(RM).

Annualised the 7.5 cents, that would be 30 cents (RM) eps for a year giving a PE of 10 given that share price is RM3 and price/nta is 4.

The latest quarter earnings might be a better guage of the potential earnings in the next few quarters provided that the selling price of gloves (asp) does not fall drastically.

Looking at pe of 10 and price/nta of 4...it is not attractive enough even though share price has come down a lot.

Maybe pe of 6-8( which meant at least another 20% downside) but this is provided that selling price of gloves does not fall drastically as more glove supply comes available