declined by 1.56% to 3.27%.
Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said investors are taking the view that global glove production capacities ramping up, including in China, would mean supply would be greater than the increase in demand in the coming years.
“Glove ASPs are trending lower. With Covid-19 vaccinations ramping up and some countries saying they will learn to live with the virus, the super profits of glove makers are seen as unlikely to continue,” Lau told StarBiz.
Rakuten Trade Sdn Bhd head of equity sales Vincent Lau said investors are taking the view that global glove production capacities ramping up, including in China, would mean supply would be greater than the increase in demand in the coming years.
FBM KLCI 17072021
REVIEW: The consolidation channel took form over the course of the past week as the FBM KLCI was seen moving in a tight sideways pattern.
Over the course of the five days, the index traded in a range of 1,509 to 1,525, representing the lower and upper limits of the current trend.
As has been the case in recent weeks, the fast-rising number of daily new Covid-19 infections are defying the government’s lockdown measures.
While investors had received the latest movement restrictions with guarded optimism, given the quick results of the first lockdown last year, this positivity was eroded by the jump in coronavirus infections to a record 13,215 new cases on Thursday.
Ramssol group managing director and CEO Cllement Tan Chee Seng (pic) told StarBizWeek that expanding into the Philippines was a natural choice as the group, headquartered in Malaysia, already operates across Singapore, Thailand, Vietnam and Indonesia.
RAMSSOL Group Bhd is optimistic about its growth prospects in light of the rapid pace of workplace digital transformation, which has been accelerated by the Covid-19 pandemic.
The human capital management (HCM) solutions and technology provider, en route to be listed on the ACE Market on July 13, will use part of its RM25.1mil initial public offering (IPO) proceeds to fund its business expansion into the Philippines (RM2.5mil) within the next 24 months, as well as growing its relatively new HCM technology applications (RM6.3mil) unit in South-East Asia.
have initiated a full shutdown of their manufacturing facilities in Selangor amid the enforcement of the emergency movement control order (EMCO).
Analysts believe that while the impact on glove companies’ earnings will be temporary, investors’ sentiment on glove counters could be hit over the short term.
Maybank Investment Bank Research (Maybank IB) said the move by the glove players to shut down their facilities was surprising.“We are negatively surprised as gloves, which are personal protective equipment, constitute essential items and glove factories were allowed during the first lockdown last year.
“In our view, the temporary shutdown of glove factories will not only affect the companies’ earnings but could also jeopardise their relationships with overseas buyers, especially when the Malaysian glove makers are currently experiencing escalating competition from the China glove makers, ” it said in a report yesterday.
Published July 8, 2021, 8:00 AM
Emperador Inc., the Philippines’ biggest liquor company, is exploring a second listing in Singapore that could raise as much as S$1 billion ($742 million), people with knowledge of the matter said.
The Manila-listed company is working with advisers on the potential offering, said the people, who asked not to be identified as the process is private. A listing in the city-state could take place as soon as the end of this year, the people said.
Emperador could be joining companies like Malaysia’s Top Glove Corp., Hongkong Land Holdings Ltd. and Japanese real estate firm Tosei Corp. in having a second listing in Singapore. Any deal would give a boost to the first-time share sales in the city-state, which hosted only three deals totaling $242 million so far this year, according to data compiled by Bloomberg. Second listings accounted for about 27% of total market capitalization in the country’s bourse in May, Singapore Exchange Ltd. data show.