KUALA LUMPUR (May 6): Analysts have revised down their earnings forecasts and target prices (TPs) for Supermax Corp Bhd as they foresee lower average selling prices (ASPs) for gloves after the group’s net profit for the nine months ended March 31, 2021 (9MFY21) came in below their expectations.
Kenanga Research analyst Raymond Choo said in a note that the group’s 9MFY21 profit after tax and minority interests came in below expectations at 71% of his full-year forecast.
“The negative variance to our estimate was due to lower-than-expected ASPs. Hence, we downgrade [our] FY21/FY22 net profit [forecasts] by 6%/6%,” he said.
Following the roll-out of Covid-19 vaccines, which is likely to cause glove demand to moderate, the group highlighted that global glove prices had since dropped by 15% to 25%.
Private Blockchain Outfit Aleo Raises $28M in New Funding Lead by a16z
4 hours ago by Benjamin Godfrey · 3 min read
Photo: Aleo / Twitter
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Aleo is committed to changing the decentralized ecosystem through its adherence to privacy features in applications being used today.
Aleo, the blockchain firm that says it is the first platform to offer fully private applications has raised $28 million in new funding. According to the company’s announcement, the round was lead by Andreessen Horowitz (a16z). Participation was also enjoined from other investors including Placeholder VC, Galaxy Digital Holdings Ltd (TSE: GLXY), Variant Fund, and Coinbase Ventures amongst others.
KUALA LUMPUR (March 11): Investment analysts are positive on Hartalega Holdings Bhd s RM7 billion expansion plan in the long term. However, some of them have trimmed their target price (TP) for the world s largest nitrile glove maker as they see the sentiment has turned cautious on the sector.
Rapid capacity expansion in China, let alone those in Malaysia, meeting with an anticipated drop in demand following the faster-than-expected roll-out of vaccination globally, has prompted analysts to start cutting their hefty premium to the valuation of glove counters.
Kenanga Research analyst Raymond Choo said in a note today he is positive on Hartalega’s Bukit Kayu Hitam land acquisition which reaffirms its commitment towards long-term future expansion growth as well as capitalising on post-Covid-19 demand growth, estimated at 15% to 20% per annum.
Morning Edition: 23rd December, 2020 tv6tnt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tv6tnt.com Daily Mail and Mail on Sunday newspapers.
Saturday, 12 Dec 2020
REVIEW: The steady advance of the FBM KLCI over the past week reaffirmed the recovery trend that has taken root on the market.
There remain uncertainties given the rising number of coronavirus infections globally, and question marks over how quickly and effectively the Covid-19 vaccines will alleviate the pandemic.
In the meantime, a green light for the emergency rollout of Pfizer’s vaccine in the US and the production of China’s Sinovac Biotech vaccine is keeping the recovery outlook positive.
Following a rally that began in the latter half of the previous week, energy stocks have regained their day in the sun, for now at least, as optimistic traders shore up crude oil prices.