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Top Glove Corporation Berhad (7113.KL)

Kuala Lumpur - Kuala Lumpur Delayed Price. Currency in MYR
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7.79-0.64 (-7.59%)
At close: 4:58PM MYT
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Neutralpattern detected
Previous Close8.43
Open8.78
Bid7.79 x 0
Ask7.80 x 0
Day's Range7.79 - 8.82
52 Week Range7.79 - 9.27
Volume198,169,100
Avg. Volume1,166,350
Market Cap9.757B
Beta (5Y Monthly)N/A
PE Ratio (TTM)24.34
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Top Glove Rebounds With Record Surge Defying Analyst Downgrade
      Bloomberg

      Top Glove Rebounds With Record Surge Defying Analyst Downgrade

      (Bloomberg) -- The rout in Malaysian glove-maker shares is showing signs of easing after Top Glove Corp. rebounded with its biggest two-day jump on record.After a four-day drop last week exacerbated by Macquarie Bank Ltd.’s downgrade of the stock, the world’s biggest maker of rubber gloves jumped as much as 13% Monday after a 20% gain on Friday, helped by a 200 million ringgit ($48 million) share buyback. Macquarie had cited concerns earnings may have peaked. Hartalega Holdings Bhd. has rebounded 11% over two days, while Supermax Corp. soared 37% in the same period to snap an eight-day, 45% plunge.“Concerns on a decline in average selling prices remain unwarranted at this juncture,” said Walter Aw, an analyst at CGS-CIMB Securities Sdn. in a note dated Sept. 11 “Signs are showing that ASPs may stay elevated for a longer period up to the end of 2021. The acute global shortage of gloves is likely to worsen as Covid-19 cases worldwide show no signs of slowing down.”Read more: Meteoric Rise of Malaysian Glove Stocks Halted by Virus VaccineBuoyed by a surge in demand for their products in the wake of the coronavirus pandemic, Malaysian glove makers almost single-handedly drove a rally in the country’s shares. But the meteoric rise has also led to extreme swings in the market, as worries grow over valuations and the prospects of a coronavirus vaccine that could bring an early end to the pandemic.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Meteoric Rise of Malaysian Glove Stocks Halted by Virus Vaccine
      Bloomberg

      Meteoric Rise of Malaysian Glove Stocks Halted by Virus Vaccine

      (Bloomberg) -- The recent progress in developing a vaccine for the coronavirus is posing a threat to the meteoric rise of Malaysian glove-maker stocks, one of the hottest sectors in Asia amid the pandemic.Shares in the sector’s biggest companies such as Top Glove Corp., Hartalega Holdings Bhd. and Supermax Corp. each dropped more than 6% on Tuesday on signs that the Trump administration may fast-track vaccines and treatments for coronavirus. The U.S. is expanding access to a treatment involving blood plasma from recovered patients and the Financial Times separately reported Trump’s government is considering whether to bypass regulatory standards to accelerate an experimental vaccine.Danny Wong, chief executive officer at Malaysia-based Areca Capital Sdn., said in an interview that investors will be better off taking some profits in glove stocks over the next few quarters as news on vaccine development has been positive. “Stocks have already rallied a lot,” Wong said.The surge in glove makers, driven by supernormal demand for protective wear, has underpinned the resilience in Malaysia’s stock market which is close to erasing this year’s losses and has been leading its Southeast Asia peers. Any faltering in those shares could hurt retail investors who piled into hot stocks in the country. Top Glove is still by far the best-performing stock on the MSCI Asia Pacific Index this year.“Investors need to ask the question if they are forecasting too much into the future” as positive news flow on a vaccine has started picking up, said Nirgunan Tiruchelvam, head of consumer equity research at Tellimer.Analysts expect Top Glove’s net income to reach new records in each of the next four quarters with about 889 million ringgit ($213 million) for the three months ending May 2021, according to Bloomberg-compiled data.As market participants rushed to upgrade earnings for the company, Top Glove’s valuation multiple on forecast profit dropped to 18 times from a record high of 43 times in May. That is around its 10-year average, data compiled by Bloomberg show.“The opportunity is far, far less attractive than in March” for glove makers, said Burton Flynn and Ivan Nechunaev, fund managers at Terra Nova Capital Advisors Ltd. that invested in Supermax earlier this year. The fund has been paring its holdings of the stock amid the rally for risk management, and it now sees the position “more as a hedge” in the portfolio.(Adds more context on vaccine development after second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Reuters

      Malaysia's Hartalega to reimburse migrant workers' recruitment fees

      Malaysian glove maker Hartalega Holdings Bhd will reimburse the recruitment fees previously paid by migrant workers to employment agents, the company said on Monday. Hartalega, the second largest medical glove manufacturer in Malaysia by market value, said in a statement it is set to reimburse up to 40 million ringgit in fees as part of its commitment to social compliance. Last month, the U.S. Customs and Border Protection (CBP) barred imports from two units of Top Glove Corp, an action the authority takes on companies suspected of using forced labour.

    • U.S. order puts Malaysia glove industry under pressure over labour abuses
      Reuters

      U.S. order puts Malaysia glove industry under pressure over labour abuses

      Malaysia's medical glove industry was under pressure to crack down on labour abuses on Thursday after the United States blocked imports from the world's largest manufacturer, with demand for the product surging due to the coronavirus pandemic. The U.S. Customs and Border Protection said it had placed a detention order on imports of products made by subsidiaries of Malaysia's Top Glove, "based on reasonable evidence of forced labour in the manufacturing process". Top Glove said it was seeking details on the order, which it said may be related to recruitment fees paid by migrant workers to employment agents.

    • Amid virus crisis, U.S. bars imports of Malaysia's Top Glove over labour issues
      Reuters

      Amid virus crisis, U.S. bars imports of Malaysia's Top Glove over labour issues

      U.S. Customs placed a detention order on imports of products made by subsidiaries of the world's largest medical glove maker, Malaysia's Top Glove Corp Bhd, an action taken against firms suspected of using forced labour. The bar on Top Glove products comes at a time when demand for medical gloves and protective gear has skyrocketed due to the coronavirus pandemic, which has hit the United States harder than any other country. The U.S. Customs and Border Protection (CBP) website showed Top Glove Sdn Bhd and TG Medical Sdn Bhd were placed on its list on Wednesday.

    • Top Glove posts 366% jump in third-quarter profit amid rocketing pandemic demand
      Reuters

      Top Glove posts 366% jump in third-quarter profit amid rocketing pandemic demand

      Top Glove Corp Bhd posted a 366% jump in third-quarter net profit amid "unparalleled growth" in demand for protective gear during the coronavirus pandemic, the world's largest medical glove maker said on Thursday. World consumption of protective gloves is expected to jump more than 11% to 330 billion pieces this year, two-thirds of which are likely to be supplied by Malaysia, its rubber glove manufacturers association said earlier this month. Executive Director Lim Cheong Guan said in an online press briefing that "the best is yet to come" and that the company could break its third-quarter record.

    • TheStreet.com

      Thai Surgical Glove Maker Uses Surge in Demand to Go Public

      Sri Trang Gloves, a subsidiary of the world's largest producer of natural rubber, is in the process of getting its initial public offering off the ground in Bangkok.

    • Malaysian firms led by world's top glove maker prioritise medical supplies
      Reuters

      Malaysian firms led by world's top glove maker prioritise medical supplies

      Top Glove Corp Bhd, the world's biggest maker of medical gloves, plans to start producing face masks to meet rising demand from the coronavirus outbreak, a top executive told Reuters. The Malaysian company, which makes one out of every five gloves in the world, will have a facility ready in two months with a production capacity of 110 million masks a year. Another Malaysian company Karex Bhd, the world's top condom maker, said it has converted two of its lubricant lines to make hand sanitisers after requests from medical customers.

    • Worker crunch hits world's top medical glove maker as demand spikes
      Reuters

      Worker crunch hits world's top medical glove maker as demand spikes

      The world's biggest maker of medical gloves is grappling with a serious shortage of workers as it tries to meet a huge surge in demand as countries such as the United States run out of personal protective gear due to the coronavirus outbreak. Malaysia's Top Glove Corp Bhd , which makes one out of every five gloves in the world, needs to urgently recruit up to 700 more workers as orders in the past few weeks have doubled, the company told Reuters on Wednesday. The hiring drive has been hampered by Malaysia's month-long curbs on travel as well difficulties in flying in workers from countries such as Nepal, the company's main source of labor.

    • World’s largest glove maker sees shortage as coronavirus fight spikes
      Reuters

      World’s largest glove maker sees shortage as coronavirus fight spikes

      Malaysia’s Top Glove Corporation Bhd, which makes one in every five gloves globally, expects a product shortage as demand from Europe and the United States spikes because of the widening coronavirus outbreak is exceeding its capacity. The company has extended shipping times to cope with the demand surge, Executive Chairman Lim Wee Chai told Reuters by phone on Friday. Lim said orders received in the past few weeks, mainly from Europe and the United States, were almost double the company’s production capacity.