supermx 将在4月公布 2010 Q1 财报，目标价 10 块 ！！！

zeonzheng

Last week, the NST reported that about 59 pupils in a Selangor school were placed under
home quarantine after 47 of them were found with influenza A (H1N1) symptoms while the
remaining 12 had influenza-like illness. Although we are hopeful that the 2nd wave of H1N1
would not hit, we believe this piece of news will fuel demand for examination gloves via
increasing hygiene awareness and health alert. We believe that this, together with US
President Barack Obama signing into law the healthcare bill covering 32 million uninsured
Americans, would drive up the share prices of most of the rubber glove companies.

Maintain Overweight on the sector. If demand continues to pick up and lag supply even with
new capacity coming onstream starting 2H10, we believe there could be another re-rating on
the rubber glove sector. Currently, our top picks remain Top Glove (Buy, TP: RM15.15),
Supermax (Buy, TP: RM10.00) and Kossan (Buy, TP: RM11.30).

千年老妖

OSK issues Call Warrant : Supermx-CB. Here are some of the details:
Issuer & Market Maker: OSK
Iss ...
OhIsU 发表于 6-4-2010 11:33 AM

   请问大大，One(1) Supermax mother share for Ten ( 10 ) Supermax-CB 是什么意思呢？一个Supermax mother share 会拿到十个免费的 cb?

OhIsU

请问大大，One(1) Supermax mother share for Ten ( 10 ) Supermax-CB 是什么意思呢？一个Superma ...
千年老妖 发表于 6-4-2010 06:56 PM

不是酱的
是明年Expiry Date: February 4,2011时
10 CB for 1 Mother share.

百万千万梦想

回复  百万千万梦想


   我大约算过会超过20sens。不过再算一算竟然是20%的成长所以不敢相信。现在既然 ...
Kenger 发表于 6-4-2010 01:51 PM

    你怎样算？介意paste上来，我们参考参考。。。

Kenger

回复 104# 百万千万梦想

我乱乱算的。不要偷笑，要大大声的笑。

25m revenue rolls over from Q4 09 due to customer fail to secure container space.
Add back 11.878m revenue due to temporary labour shortage & water disruption in Q4 09.
Add back 5.4m one off bond interests in Q4 09.

Q4 09 Revenue = 196,417 + 25,000 + 11,878
                      = 233,295

Q4 09 Profit Margin = 22.45%
Profit = 233,295 * 22.45%
        = 52,374 + 5,400
        = 57,774

EPS = 57,774 / 268,250
      = 21.53

没有算进improve margin和growth.

sunflower2007

手套股的价码好像都在顶峰。但是有好像不断的创造顶峰。很矛盾，想买有怕。

teewengchen

敢敢来。第二波AN1H1还有排不能解决。胶套股有望再创新高！

zeonzheng

飞了飞了～

百万千万梦想

现在SUPERMX妈妈RM7.45 了。。ca转换价才RM8.00。。。很靠近了

多多指教

想进。。但有怕。。。 毕竟7.45算是很高了。。 有哪位大大可以提供意见？

百万千万梦想

妈的，全部给他们讲完，昨天还唱坏。。现在就唱好，RM升了也不用紧，还能去泰国买橡胶，因为那边是用美金的。。。哈哈哈。。。明天手套股又要升天了。。。

原料馬幣雙升衝擊賺幅‧頂級手套提高價格應對
大馬財經  2010-04-14 17:50
（吉隆坡）頂級手套（TOPGLOV,7113,主板工業產品組）可通過提高產品價格，克服原料成本上漲和匯率波動的衝擊。

這間公司執行董事林將說：“任何衝擊效應將是短暫的。手套是醫葯保健領域的必需品，比較龐大的醫葯成本來說，手套價格的增加對最終用戶而言是微不足道的。”

頂級手套是全球最大手套廠商，近期股價受膠價走高和馬幣匯率升值的雙重打擊，股價重挫。

成本漲價轉嫁給顧客

不過，林將源相信，膠價上漲和匯率波動都是短期現象，公司可將衝擊轉嫁到顧客身上。

他針對膠價近期漲至20月新高，馬幣升值迅速，接受《路透社》訪問時說，除了調漲手套售價，這間公司也可以對衝馬幣升值衝擊，就是從泰國尋求膠液，因為當地膠液是以美元交易。

手套股本週面對龐大賣壓，頂級手套在過去5個交易日下跌了8%，週二（4月13日）重挫60仙至12令吉90仙水平，今日（週三，4月14日）繼續下滑，一度下跌30仙至12令吉60仙，最後以12令吉80仙作收，下跌10仙。

東京橡膠期貨因為原油漲價和現貨供應緊窄，攀至20個月新高；馬幣今年迄今漲7%，一度來到3.17的23個月新高。由於膠液是手套主要原料，而手套交易以美元為主，這“雙升”預料威脅手套業者的賺幅。

大馬膠手套供應全球超過60%的膠手套需求，2009年的Ａ流感爆發後，促使市場對膠手套的需求大增。

林將源說，用來生產膠手套的膠液價格，可能在5月下降，目前的供應緊縮情況主要是氣候影響，預料在稍後時會有改善。

不需擔心產量過剩問題

自2月乾旱季節開始後，大馬泰國的橡膠供應已逐漸減少。

林將源也強調，有關膠手套擴充過快，快速建新廠導致產量過剩的隱憂是不確實的。

由於需求急增，導致大馬膠手套公司，包括頂級手套、速伯瑪（SUPERMX,7106,主板工業產品組）和高產尼品（KOSSAN,7153,主板工業產品組）等手套公司都積極建新廠以迎合需求，使市場擔心供過於求。

林將源說：“手套供應的增加是逐步進入市場的，一旦有供應過剩的現象出現，廠商會立刻調整擴充計劃，以免影響市場供需平衡。”

星洲日報／財經‧2010.04.14

K男

妈的，全部给他们讲完，昨天还唱坏。。现在就唱好，RM升了也不用紧，还能去泰国买橡胶，因为那边是用美金的 ...
百万千万梦想 发表于 15-4-2010 01:06 AM

重点是人家愿意以多少钱卖给你--两国同时都是生产萎缩-再加上泰国近期政治不稳定【农民走上街头】--在国利当前的情况下--贸易壁垒难料--况且我们先前的汽车政策已经逼使原先在泰国装配的厂商可能大举迁移【政治因素也是关键】--一切会波动的关键都难料

以目前的手套股--原则上来说股价已经充分反映股票内在价值--这样的所谓顶端起落--一个走不对就像刀剑上随时两半分开

再者那些CA-CB的回购凭单--要记住--回购凭单不是母公司自己出的--到期后不是兑换母股的说--过度的溢价导致最后无法兑现时是废纸一张【其实你连废纸也没拿到】--钱都化为乌有。。。

目前想买入手套股的网友们请三思--局势-趋势。。。至于回购凭单-也许会送死我也不会阻止你的说

K男

至于订单的东西--不是昨晚要买今天下单的说--订单的数量和价格-交货期限已经是合约的一部分--如果短时间双起的程度猛烈--成本短期暴涨--那么很可能在扩充厂房生产线双边开洞又不能马上调整价格的情况下--公司可能最少两季是少赚出货的情况下。。。在营收的先前预计和开支的比重突然严重倾斜的情况下--难保10月的季报出现个库存增加【量】--不是以价格来衡量时。。。会有个很难看财报--倒是股价重挫的市场情绪将是关键影响现在买入的持者【除非你预计了也有这个能力承受】

百万千万梦想

二哥有新作了，请看看。。。

http://2ndbrother2.blogspot.com/ ... 0&max-results=9

K男

二哥有新作了，请看看。。。

... 0&max-results=9
百万千万梦想 发表于 15-4-2010 02:00 AM

你看了以后看到了什么？？你自己的想法才是关键的说--别人想的是别人的事--毕竟你的决策才是影响你的股海路的说

而结果是你不断重复错误【在错误判断操作后】--还是在多年后回看同一篇文章时有了更深一层的解读和拒绝能力。。。

K男

我是在看了这个之后才写最上面的那两帖回复的说。。。这算公开的事了吧【发现很多人都会转发那边的消息了】

虽然我和他是朋友～～

Thai Today, Supermax Closed 6.98 up +0.34 Volume 3,787,800 Share traded. More goods news to come on Monday, April 19,2010

Thai Read more news on why there was a sell down of glove sector. In the menatime, click this link for the latest news

http://www.theedgemalaysia
.com/business-news/163854-
supermax-exec-chairman-sel
ling-of-latex-gloves-done.
html

留下眼镜

公司负责人讲跌是进场良机，我觉得他不该讲这些，他只要报告公司发展状况就够了，讲这些是无谓的。他的capital gain会拿来同你分享吗？

百万千万梦想

This quarter EPS 18.97

7106    SUPERMX    SUPERMAX CORPORATION BHD

Quarterly rpt on consolidated results for the financial period ended 31/3/2010

Quarter: 1st Quarter Financial Year End: 31/12/2010 Report Status: Unaudited Submitted By: Wong Wei Fong Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/03/2010 31/03/2009 31/03/2010 31/03/2009 RM '000 RM '000 RM '000 RM '000 1 Revenue 220,652 192,372 220,652 192,372 2 Profit/Loss Before Tax 54,282 23,466 54,282 23,466 3 Profit/Loss After Tax and Minority Interest 51,473 19,707 51,473 19,707 4 Net Profit/Loss For The Period 51,473 19,707 51,473 19,707 5 Basic Earnings/Loss Per Shares (sen) 18.97 7.43 18.97 7.43 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Tangible Assets Per Share (RM) 2.3300 2.0800 Remarks: N/A

19/04/2010   01:15 PM

Ref Code: 20100419FA00015

lover82

整体来看,这季的财报都好过上一季,太好了

http://cwyeoh-stock.blogspot.com/

百万千万梦想

CIMB的报告出了。。
CIMB Revises upward new Target Price of Supermax ( 7106 ) from RM9.65 to RM11.90 per Share base on PE of 13.2x. For more details, log on to http://www.supermax.com.my/html/analysts_reports.aspx to access the latest Analyst Reports.

Investment highlights

Still in (g)love; maintain BUY. Supermax is scheduled to release its 1QFY10

results during lunchtime on 19 April. Although no new capacity came onstream

during the quarter, we estimate that net profit more than doubled yoy to around

RM50m, thanks to strong demand. Given the expected stronger contributions in

the coming quarters, we are likely to raise our FY10-12 earnings forecasts by 23-

25% when the results are announced. For now, we also retain our target price of

RM9.65, which is pegged to a 20% discount to Top Glove’s target P/E of 16.5x.

We think that the recent selldown of Supermax is unjustified given the resilient

demand for rubber gloves and glove manufacturers’ ability to pass on cost

increases, be it latex, energy or even a weaker US$. We maintain our BUY call on

Supermax, premised on the potential re-rating catalysts of the anticipated strong

1Q results, continuing uptick in glove demand and upcoming capacity expansion.

Supermax remain one of our top picks for the sector.

• Positive stance remains. Rubber glove stocks have come under selling pressure

of late as investors fret about a repeat of the share price collapse in 2008 when

investors assumed that record latex prices, high energy prices and a weakening

US$ would dampen glovemakers’ earnings significantly. We think that the recent

selldown of the stocks is unjustified given the resilient demand for rubber gloves

and glove manufacturers’ ability to pass on cost increases. Moreover, glove

manufacturers proved their resilience against the 2008-9 global economic turmoil

and earnings continued to rise despite the weakening US$ and high costs during

2008. On average, the total net profit of the companies in our coverage increased

19.5% in FY08 and 65.3% in FY09. We strongly believe that industry prospects

remain favourable and Supermax is one of the key beneficiaries. Given the

additional capacity coming in during 2Q, we expect Supermax’s core net profit to

grow by at least 25% this year. The company’s ROE improved to an impressive

27% last year. The company is also strengthening its balance sheet position, with

net gearing falling to 31.5% in 2009 from 90% the year before.

Recent developments in the sector

Selldown of rubber glove stocks. Rubber glove stocks have been under selling

pressure lately because of negative newsflow on the sector. These include the upturn

of latex prices, strengthening ringgit and concerns over a potential industry glut.

Latex price at all-time high... Latex costs make up on average about 55% of glove

manufacturers’ costs. Latex prices have been rising this year and are now at an alltime

high of RM7.60/kg. We gather from industry players that this is due to the tight

supply in the market as well as the ongoing rubber wintering season.

… and weakening US$ not a major concern. Given that almost 100% of

Supermax’s products are exported, the strengthening of the ringgit could have a

negative impact on its revenue. Fortunately, it sources half of its latex from Thailand

and pays in US$, leading to a partial natural hedge for the company. Moreover, like

other glove manufacturers, Supermax sells its products 1-2 months forward at ASPs

based on the average latex price and RM:US$ rate in the previous month. Selling

prices are revised every month or as and when there is a sudden change in cost, for

example, the revision of electricity and natural gas rates during mid-08 and early

2009. We, therefore, believe that a firmer ringgit and rising latex should have minimal

impact on the bottomline. Any impact on margins would be temporary given the cost

pass-through and revision of selling prices.

Industry demand remains healthy. Investors’ other major concern is reduced pricing

power for glove manufacturers given the potential oversupply of gloves in the market.

We do not think that this will be an issue because glove demand is increasing at an

average rate of 8-10% per annum. Although glove manufacturers are expanding

capacity in a big way, the additional capacity will only come in progressively. This

leads us to believe that industry demand growth could be higher than last year’s

estimated 12% (Figure 2) as it was constrained by supply capacity since glove

manufacturers were operating at maximum capacity. This led to a spillover of orders

to 2010.

Glut not a worry for some time to come. Moreover, even if there is surplus capacity,

it does not necessarily mean that the rubber glove companies will lose pricing power

as they have been operating with excess capacity for many years with the exception

of 2009 when there was a jump in demand due to H1N1. Furthermore, our projections

assume base-case demand growth. Glove manufacturers still strongly believe that on

top of the average annual demand of 8-10%, future growth could come in from the US

healthcare reform and a surge in demand from major developing countries like China

and India. All this ties in with our view that investors should not be unduly concerned

about a slight surplus in capacity.