【TOPGLOV 7113 交流专区】顶级手套

Mr.Business

Matthews International23/05/2008那天为Matthews International Funds买进200,000股，同一天也为Liberty Mutual Insurance Company卖267,500股。看来Matthews本身的基金还是看好Top Glove的。

Mr.Business

国油生产天然气的价格是每单位（mmBTU）RM15至RM16，可是只以每单位RM6.40的价格出售予独立发电厂和以每单位RM13 （从2005年7月開始維持这价钱）的价格出售予工厂 (目前天然气的市价是每单位41元)。

分析界估計大馬天然氣或調升至15令吉，漲幅達15%。Top Glove的天然气成本将从9%起到10.3%，增加1.3％。

这是假设政府将工业用天然氣調升至RM15，如果价格調升幅度更大，手套业者的影响会更大。

[ 本帖最后由 Mr.Business 于 5-6-2008 08:48 AM 编辑 ]

bsyeo

原帖由 c56733 于 26-9-2007 06:47 PM 发表
在还没有牛市时，因为它不断扩大产能，营收也就一路向北。
就算现在牛市也一样，只要它继续扩大，股价还是会回头上调的。
不要忘了，林博士可是把顶级手套从一间小公司，到现在的世界最大胶手套制造商，什么环境没 ...

28-4-08 RM4.48

Mr.Business

我email去问Top Glove一点问题，Top Glove回复了，可是却没直接回答，语气感觉对业绩展望保守。

我问:
Hi,
I am one of the Top Glove's shareholders, I have some enquiry here:
1. Top Glove targets its revenue in FY2008 to be RM1.56 billion while net profit to be RM125 million, while in the first 2 quarters, Top Glove's revenue is RM657258K while net profit is RM58863K. To achieve its target, in the coming 2 quarters, Top Glove need to achieve revenue RM451.37 million and net profit RM33 million for each quarter. Is Top Glove confident to achieve its target?
2. When Top Glove will issue its new ESOS? how many unit share of ESOS Top Glove will issue at the first issuance?
Thank you.


Top Glove回复:
Thanks for your email.
Based on historical results, the result of the 2nd half of the year is usually stronger than the 1st half due to the additional production lines came in operation after completion of the installation.
Having said that, currently we faced three main issues, i.e. latex price, foreign exchange and also high oil price. These are also common problems to other manufacturers either in Malaysia, Thailand or Indonesia. We will continue to put in the effort to achieve the target that we have set.
We shall keep you inform on your question pertaining to ESOS.

[ 本帖最后由 Mr.Business 于 29-5-2008 02:36 PM 编辑 ]

Mr.Business

还是Overlook Partners专一，又进场了。。。

Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965

Reference No CS-080529-2371C

Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	29/05/2008

Name	:	The Overlook Partners Fund LP
Address	:	c/o Overlook Investments Limited 1702 Dina House 11 Duddell Street Central, Hong Kong
NRIC/Passport No/Company No.	:	-
Nationality/Country of incorporation	:	Cayman Islands
Descriptions (Class & nominal value)	:	Ordinary Shares of RM0.50 each
Name & address of registered holder	:	HSBC Bank Malaysia Bhd 2 Leboh Ampang 50100 Kuala Lumpur

Details of changes
Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	22/05/2008	300,000
Acquired	23/05/2008	280,000

Circumstances by reason of which change has occurred	:	Purchase
Nature of interest	:	Direct
Direct (units)	:	20,000,380
Direct (%)	:	6.7925
Indirect/deemed interest (units)	:
Indirect/deemed interest (%)	:
Total no of securities after change	:	20,000,380
Date of notice	:	26/05/2008
Remarks

Mr.Business

看来美国市场对nitrile glove的需求在增加中。。。

30-05-2008: Kossan Rubber 1Q net profit surges 22%
By Racheal Lee Mei Nyee

PETALING JAYA: Kossan Rubber Industries Bhd’s net profit for its first quarter (1Q) ended March 31, 2008, surged 22.03% to RM14.2 million from RM11.64 million a year earlier, due to increased capacity of 14 production lines completed in December 2007 and higher utilisation rate.

Revenue for 1QFY08 rose 23.02% to RM199.9 million from RM162.5 million a year earlier with its gloves division contributing RM176.91 million.

Its operational profit grew 24.35% to RM19.89 million in 1Q, from RM15.99 million a year earlier.

Its EBITDA margins remained relatively unchanged at 13%, amidst high latex prices and appreciation of the ringgit, indicating that the management has been able to pass on cost to consumers.

In line with the strong take-up of nitrile gloves sale worldwide, the group is planning to add another 11 double former lines in 2QFY08 to the existing 102 production lines. The instalment, which is expected to be completed by November 2008, can boost its total output by 22%.

With this capacity expansion, an additional of 2.3 billion pieces of nitrile gloves will be added to the existing 9.8 billion pieces. It will cater to nitrile glove production, and are expected to increase the group’s nitrile segment to 33% of total glove capacity.

Kossan Rubber, with a market capitalisation of RM520 million, is one of the largest glove manufacturers in Malaysia. Alongside with Top Glove and Supermax, these three companies account for about 35% of Malaysia's total glove export.

Its earning per share rose 20.55% to 8.8 sen from 7.3 sen a year earlier. No dividend was declared for its first quarter.

For the FY07 ended December 31, 2008, the company has declared a first and final dividend of four sen per ordinary share, less tax at 26% and four sen per ordinary share, tax-exempted. The dividend will be paid on Aug 11 subject to members’ approval at the annual general meeting to be held on June 19.

http://www.theedgedaily.com/cms/ ... a-18992130-8833791c

Mr.Business

原帖由 Mr.Business 于 16-1-2008 09:06 AM 发表
林博士说:"Our major challenge at this moment would be a shortage in thesupply of natural gas for the industry to expandfurther"。看来他要收购其他手套生產商的目的之一是为了现成的天然气供应。请问有相关知识的网友，工厂的天然气供应应该是通过运输管，是吗？那是不是在建新厂，当局在铺设天然气供应运输管，不是很积极？

果然如此。。。

鄭金森認為，比起天然氣價格，供應才是業者更關注的問題。

他透露，天然氣供應短缺問題已困擾相關業者逾2年，也影響國內外投資計劃。

目前，國內約65%天然氣供應給獨立發電商（IPP）

他呼籲政府檢討現有政策，以允許供應特定數額天然氣，給其他可製造更多就業機會的領域業者。

“如此一來，速伯瑪才能加速業務擴展機會。”

http://chinapress.com.my/content_new.asp?dt=2008-05-31&sec=business&art=0531bs16.txt

A more pressing issue, Thai said, is the shortage of natural gas for industrial use in Malaysia.

"The natural gas supply is critical in Malaysia. New companies andinvestors that want to set up factories cannot get additional supply ofgas. As a result, some of the potential investments were shelved," hesaid.

http://www.btimes.com.my/Current_News/BTIMES/Saturday/Nation/kdmax.xml/Article/

cyrusck2

希望hartalega 也会上。 痛心此股没什么动。

回酬

看来TopGlov又有变动了。。。
他喜欢唱反调，明天开市会稍微上一点点吧！！

Mr.Business

我在考虑双油泡沫爆后对Top Glove的影响。我们都知道，我国股市之前的吸引力主要就是双油。如果将来泡沫爆了，资金离开双油股，对我国股市的吸引力应该有不良影响。不过对于Top Glove来说，影响应该是正面的 (latex，天然气，美元)。既然过去双油股在大起时，Top Glove是在继续她的跌势，将来双油股大跌，Top Glove应该不会跟着跌。反而因为不利因素消失，资金回流，我预期Top Glove会起，因此我相信Top Glove和双油股是处于相反状态的, 就象回酬兄讲的，她喜欢唱反调。

Mr.Business

原帖由 Mr.Business 于 29-5-2008 02:28 PM 发表
我email去问Top Glove一点问题，Top Glove回复了，可是却没直接回答，语气感觉对业绩展望保守。

我问:
Hi,
I am one of the Top Glove's shareholders, I have some enquiry here:
1. Top Glove targets its revenue in FY2008 to be RM1.56 billion whilenet profit to be RM125 million, while in the first 2 quarters, TopGlove's revenue is RM657258K while net profit is RM58863K. To achieveits target, in the coming 2 quarters, Top Glove need to achieve revenueRM451.37 million and net profit RM33 million for each quarter. Is TopGlove confident to achieve its target?
2. When Top Glove will issue its new ESOS? how many unit share of ESOS Top Glove will issue at the first issuance?
Thank you.


Top Glove回复:
Thanks for your email.
Based on historical results, the result of the 2nd half of the year isusually stronger than the 1st half due to the additional productionlines came in operation after completion of the installation.
Having said that, currently we faced three main issues, i.e. latexprice, foreign exchange and also high oil price. These are also commonproblems to other manufacturers either in Malaysia, Thailand orIndonesia. We will continue to put in the effort to achieve the targetthat we have set.
We shall keep you inform on your question pertaining to ESOS.

In line with the strong take-up of nitrile gloves sale worldwide, Kossan is planning to add another 11 double former lines in 2QFY08 to the existing 102 production lines. The instalment, which is expected to be completed by November 2008, can boost its total output by 22%.
With this capacity expansion, an additional of 2.3 billion pieces of nitrile gloves will be added to the existing 9.8 billion pieces. It will cater to nitrile glove production, and are expected to increase the group’s nitrile segment to 33% of total glove capacity.

计算过后发现Kossan现在nitrile gloves的生产量是1.7 billion，计划在November增加2.3 billion生产量，达到4 billion。

我于是再电邮Top Glove问问，Top Glove的回复:
Yes, US consumers are slowly switching to nitrile from latex gloves, but are on gradual basis and we are prepared for it. Our production lines in Malaysia can cater for both, ie inter switchable. However, in other part of the world, demand for latex gloves continue to grow as nitrile is more expansive and also environment problem.

要观察Top Glove如何解决这问题了，我看Top Glove也会增加nitrile gloves的生产量。

SoRooter

有谁知道

3. PETRONAS AKAN MENYUSUN SEMULA SUBSIDI GAS

Mulai 1 Julai 2008, harga gas yang dibekalkan oleh Petronas di Semenanjung Malaysia akan diubah seperti berikut:

a) Bagi sektor elektrik, harga akan dinaikkan daripada RM6.40 setiap mmBtu kepada RM14.31 setiap mmBtu;

b) Bagi pengguna sektor industri yang menggunakan kurang daripada 2mmscfd, harga yang ditetapkan oleh Gas Malaysia Sdn Bhd (GMSB) akan dinaikkan daripada RM9.40 setiap mmBtu kepada RM24.54 setiap mmBtu.

c) Bagi pengguna sektor industri yang menggunakan lebih daripada 2 mmscfd, harga gas yang dibekalkan oleh Petronas akan dinaikkan daripada RM11.32 setiap mmBtu kepada RM32.56 setiap mmBtu.

1。topgglov 是 b 还是 c?
2。gas 占成本多少巴仙？

stereo

天然气占手套业的成本大约10％。

SoRooter

  cost 又增加了

8years

cost 10% x3 =增加30%=profit margin-30%===>亏钱生意。

有戏看

SoRooter

原帖由 8years 于 5-6-2008 01:00 AM 发表
cost 10% x3 =增加30%=profit margin-30%===>亏钱生意。

有戏看

虽然增加，不过也不是这样算的吧

Mr.Business

原帖由 SoRooter 于 4-6-2008 11:34 PM 发表
有谁知道

3. PETRONAS AKAN MENYUSUN SEMULA SUBSIDI GAS

Mulai 1 Julai 2008, harga gas yang dibekalkan oleh Petronas di Semenanjung Malaysia akan diubah seperti berikut:

a) Bagi sektor elektrik, harga akan dinaikkan daripada RM6.40 setiap mmBtu kepada RM14.31 setiap mmBtu;

b) Bagi pengguna sektor industri yang menggunakan kurang daripada2mmscfd, harga yang ditetapkan oleh Gas Malaysia Sdn Bhd (GMSB) akandinaikkan daripada RM9.40 setiap mmBtu kepada RM24.54 setiap mmBtu.

c) Bagi pengguna sektor industri yang menggunakan lebih daripada 2mmscfd, harga gas yang dibekalkan oleh Petronas akan dinaikkan daripadaRM11.32 setiap mmBtu kepada RM32.56 setiap mmBtu.

1。topgglov 是 b 还是 c?
2。gas 占成本多少巴仙？

1. 我觉得是C

2. SoRooter兄没爬帖？ 差不多9% -10%。

原帖由 Mr.Business 于 29-5-2008 09:50 AM 发表
国油生产天然气的价格是每单位（mmBTU）RM15至RM16，可是只以每单位RM6.40的价格出售予独立发电厂和以每单位RM13 （从2005年7月開始維持这价钱）的价格出售予工厂 (目前天然气的市价是每单位41元)。

分析界估計大馬天然氣或調升至15令吉，漲幅達15%。Top Glove的天然气成本将从9%起到10.3%，增加1.3％。

这是假设政府将工业用天然氣調升至RM15，如果价格調升幅度更大，手套业者的影响会更大。

[ 本帖最后由 Mr.Business 于 5-6-2008 08:49 AM 编辑 ]

Mr.Business

更新: June 4, 2008 18:44

針對工業用途獨立發電商
天然氣補貼逐步下調
（吉隆坡4日訊）內閣抗通膨委員會向內閣建議，未來將逐步下調工業用途及獨立發電商的天然氣補貼。

上述調整，是政府重新探討燃油補貼制的部分舉措。

目前發電廠領域的每百萬熱值單位售價仍是6.40令吉，工業用途天然氣售價則為11.20令吉，遠低于國際水平。

徵收暴利稅

委員會也建議對獨立發電廠（IPP）及棕油提煉廠實施暴利稅（excess profit tax）。

據悉，政府或對獨立發電廠的營業額，徵收高達5%暴利稅。

實施上述稅務，將有助政府應對補貼成本日益高漲的窘境。

國能09財年需支付給獨立發電廠的款額高達106億令吉，假設暴利稅5%，將可從中錄得5億3100令吉。

http://www.chinapress.com.my/con ... ;art=0605m11a31.txt

8years

夸大其词嘛，当然没有亏那么夸张，不过肯定好不到哪里
glove maker拥有的profit margin太少，承受不起任何cost的提高，尤其是那种cost提高了又不能转嫁给买家。

所以未来一年topglove业绩必死。

Mr.Business

成本高涨已经是人人都知道的，我想也已经反应在股价上，我觉得可以等待看看情况。

苦难的经营环境淘汰弱者，是好事。。补助只会歪曲市场。。。对了天然气涨价对其他工业也是有影响的，例如钢铁业。