ANALYSTS remain positive on Top Glove Corp Bhd despite the environmental, social and governance (ESG) concerns that have emerged over the glove maker’s staff living quarters.
While they imputed a discount on their target prices for Top Glove because of this, most of the analysts have maintained their bullish calls on the company following the release of its results for the first quarter ended Nov 30 (1QFY2021) it posted a record net profit of RM2.38 billion on its highest ever quarterly revenue of RM4.76 billion.
RHB Investment Bank, for example, has maintained its “buy” call on Top Glove but ascribed a 10% ESG discount to its target price and cut its ESG score for the group to 2.78 (from 3.22) on lower points for the Social or “S” component.
KUALA LUMPUR (Dec 10): Berjaya Land Bhd (BLand), controlled by tycoon Tan Sri Vincent Tan, has continued to accumulate shares in convenience store chain operator 7-Eleven Malaysia Holdings Bhd over the past three months.
In a filing with Bursa Malaysia today, BLand said its wholly-owned subsidiary Nural Enterprise Sdn Bhd acquired a total of 8.22 million shares, representing about 0.73% equity interest in 7-Eleven Malaysia in the open market between Sept 11 and Dec 8.
The shares were acquired for a total cash consideration of RM10.96 million or an average of RM1.33 per share.
As a result, BLand and its subsidiaries now have a 5.28% stake in 7-Eleven Malaysia.
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