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KUALA LUMPUR (May 28): Rubberex Corp (M) Bhd s net profit for the first quarter ended March 31, 2021 (1QFY21) surged nine times to a record high of RM86.57 million from RM9.26 million a year ago, on higher demand for glove products and higher average glove selling prices.
Its quarterly revenue also jumped more than two times to RM175.24 million, from RM66.43 million a year ago, its filing to Bursa Malaysia showed.
The group did not declare any dividend for the latest quarter.
The group said its reported profit included a gain of RM5.9 million from the dissolution and deregistration of Rubberex (Hong Kong) Ltd, a wholly-owned subsidiary of the company, from the Companies Registry of Hong Kong in February.
THE Covid-19 pandemic has caused many companies to be in financial distress, forcing some to temporarily shut down factories and operations for at least two months from mid-March in 2020 and experiencing lower demand after that.
With numerous firms seeing a decline in earnings, and many falling into the red, one wonders how much Malaysia’s top brass were paid in 2020 versus the year before.
According to data compiled by The Edge, among the top 50 companies by market capitalisation, the heads of 15 firms took a pay cut, 13 saw a bump in their paycheques and only two those of Supermax Corp Bhd and Time dotcom Bhd had no change in pay.
KUALA LUMPUR (April 26): Bursa Malaysia’s healthcare index gained the most in percentage today, among other indices, following investors’ concern over the rising number of daily new Covid-19 cases worldwide.
At 2.59pm, the healthcare index had risen 101.35 points or 3.09% to a two-month high of 3,382.17 points.
The healthcare gauge includes rubber glove manufacturers. The big four rubber glove stocks, namely Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd, were among the top gainers on the local bourse so far today.
The three KLCI constituents among the glove makers also pulled the FBM KLCI higher.
KUALA LUMPUR (April 26): Bursa Malaysia ended the morning trading session mixed, tracking an uptrend on most regional bourses and supported by consistent buying of selected healthcare counters, dealers said.
At 12.30pm, the FBM KLCI settled 7.56 points higher at 1,615.99, compared with last Friday’s close at 1,608.43.
The market bellwether opened 2.31 points higher at 1,610.74, and moved between 1,609.44 and 1,616.90 throughout the session.
However, the overall market breadth was slightly negative as losers surpassed gainers at 532 versus 494, while 412 counters were unchanged, 759 untraded and 41 suspended.
Total volume stood at 5.07 billion shares worth RM3.26 billion.
In a research note today, Kenanga Research said that the local bourse remains vulnerable to pressure.