【TOPGLOV 7113 交流专区】顶级手套

Mr.Business

我与Top glove的问答。。。

Mr.Business:
Talk about nitrile gloves, Supermax has agreed to pay a royalty payment of USD2.00 per 1000 nitrile gloves sold for importation into the United States to Tillotson, while Top Glove has not agreed to it.
Can I say Top Glove now has a better cost advantage compared to Supermax (since Supermax need to pay royalty payment while Top glove need not)? Did this absence of royalty payment help to improve Top Glove's  nitrile gloves market in US?

Top Glove:
The difference with Supermax is that TG is selling on OEM (customers brand) basis while Supermax is on OBM (Own brand). Therefore, Supermax need to settle with Tillotson. However, for TG, we have informed our customers that they will have to deal with Tillotson on the royalty issue since they are the distributors in US.

[ 本帖最后由 Mr.Business 于 12-2-2008 04:22 PM 编辑 ]

Mr.Business

是哦，明天是Top glove的6cent股息EX的日子。

Entitlements (Notice of Book Closure)

Reference No CS-071126-94FF1

Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	26/11/2007

EX-date	:	13/02/2008
Entitlement date	:	15/02/2008
Entitlement time	:	04:00:00 PM
Entitlement subject	:	Final Dividend
Entitlement description	:	Final Dividend of 6% less 26% Malaysian Income Tax and 6% Tax Exempt
Period of interest payment	:	to
Financial Year End	:	31/08/2007
Share transfer book & register of members will be	:	to closed from (both dates inclusive)  for the purpose of determining the entitlements
Registrar's name ,address, telephone no	:	Securities Services (Holdings) Sdn. Bhd. Level 7, Menara Milenium Jalan Damanlela Pusat Bandar Damansara Damansara Heights 50490 Kuala Lumpur Tel No. 03-2084 9000
Payment date	:	14/03/2008
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	:	15/02/2008
b. Securities deposited into the Depositor's Securities Account before12:30 pm in respect of securities exempted from mandatory deposit	:
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.	:
Number of new shares/securities issued (units) (If applicable)	:
Entitlement indicator	:	Percentage
Entitlement in percentage (%)	:	12
Remarks :
Entitlement in percentage - of the 12%, 6% less 26% Malaysian Income Tax and 6% Tax Exempt

东邪

7113

Notice of Shares Buy Back - Immediate Announcement

Date of Buy Back : 12/02/2008 Description of Shares Purchased : Ordinary Shares of RM0.50 No. of Shares Purchased : 28,000 shares Minimum Price Paid For Each Share Purchased : RM 5.200 Maximum Price Paid For Each Share Purchased : RM 5.350 Total Consideration Paid : RM 146,705.00 No. of Shares Purchased Retained in Treasury : 28,000 shares No. of Shares Which Are Proposed To Be Cancelled : shares Cumulative Net Outstanding Treasury Shares As At To-Date : 5,324,000 shares Adjusted Issued Capital After Cancellation : 0 Date Lodged With Registrar of Company : Lodged By : Remarks: N/A Submitted By: Ms. Chua Siew Chuan

12/02/2008   05:47 PM

东邪

7113

Notice of Shares Buy Back - Immediate Announcement

Date of Buy Back : 13/02/2008 Description of Shares Purchased : Ordinary Shares of RM0.50 No. of Shares Purchased : 24,000 shares Minimum Price Paid For Each Share Purchased : RM 5.200 Maximum Price Paid For Each Share Purchased : RM 5.350 Total Consideration Paid : RM 126,280.00 No. of Shares Purchased Retained in Treasury : 24,000 shares No. of Shares Which Are Proposed To Be Cancelled : shares Cumulative Net Outstanding Treasury Shares As At To-Date : 5,348,000 shares Adjusted Issued Capital After Cancellation : 0 Date Lodged With Registrar of Company : Lodged By : Remarks: N/A Submitted By: Ms. Chua Siew Chuan

13/02/2008   06:04 PM

东邪

7113

Notice of Shares Buy Back - Immediate Announcement

Date of Buy Back : 14/02/2008 Description of Shares Purchased : Ordinary Shares of RM0.50 No. of Shares Purchased : 16,000 shares Minimum Price Paid For Each Share Purchased : RM 5.200 Maximum Price Paid For Each Share Purchased : RM 5.250 Total Consideration Paid : RM 83,750.00 No. of Shares Purchased Retained in Treasury : 16,000 shares No. of Shares Which Are Proposed To Be Cancelled : shares Cumulative Net Outstanding Treasury Shares As At To-Date : 5,364,000 shares Adjusted Issued Capital After Cancellation : 0 Date Lodged With Registrar of Company : Lodged By : Remarks: N/A Submitted By: Ms. Chua Siew Chuan

14/02/2008   06:06 PM

东邪

7113

Changes in Sub. S-hldr's Int. (29B)

Particulars of Shareholder 36 Name : The Overlook Partners Fund LP NRIC/Passport No./Company No. : - Nationality/Country of Incorporation : Cayman Islands Address: c/o Overlook Investments Limited 1702 Dina House 11 Duddell Street Central, Hong Kong Descriptions (Class and Nominal Value): Ordinary Shares of RM0.50 each Name and Address of Registered Holder: HSBC Bank Malaysia Bhd 2 Leboh Ampang 50100 Kuala Lumpur Details of Changes Date of Notice : 11/02/2008 Transactions: No. Date Transaction Type No of Shares Price (RM) 1. 04/02/2008 Acquired 150,000 - Circumstances by reason of which change has occurred: Purchase Nature of Interest: Direct Consideration: No of Shares Held After Changes: Direct : 15,959,580 shares (5.4000%) Indirect/Deemed Interest : 0 shares (0.0000%) Total : 15,959,580 shares Remarks: N/A Submitted By: Ms. Chua Siew Chuan

14/02/2008   06:09 PM

34350

Notice of Shares Buy Back

Buy Back Date	15 Feb 2008
Shares Purchased Description	Ordinary Shares of RM0.50
Min Price Per Share (RM)	5.250
Max Price Per Share (RM)	5.250
Total Share Purchased (units)	10,000
Total Consideration Paid (RM)	52,500.00
Cumulative Net Outstanding Treasury Shares as At-Date (units)	5,374,000
Number of Shares Purchased Retained in Treasury (units)	10,000

东邪

7113

Notice of Shares Buy Back by a Company pursuant to Form 28A

Date of Buy Back : 05/02/2008 to 15/02/2008 No. of Shares Purchased : 121,000 shares Minimum Price Paid For Each Share Purchased : RM 5.150 Maximum Price Paid For Each Share Purchased : RM 5.350 Total Amount Paid For Shares Purchased : RM 631,835.00 Shares Were Purchased Through : BURSA MALAYSIA SECURITIES BERHAD No. of Shares Purchased Retained in Treasury : 121,000 shares Total No. of Shares Retained in Treasury : 5,374,000 shares No. of Shares Purchased Which Were Cancelled : 0 shares Total Issued Capital as Diminished : 0 Date Lodged With Registrar of Company : 18/02/2008 Lodged By : Securities Services (Holdings) Sdn. Bhd. Remarks: N/A Submitted By: Ms. Chua Siew Chuan

18/02/2008   06:06 PM

东邪

7113

Notice of Shares Buy Back - Immediate Announcement

Date of Buy Back : 18/02/2008 Description of Shares Purchased : Ordinary Shares of RM0.50 No. of Shares Purchased : 22,000 shares Minimum Price Paid For Each Share Purchased : RM 5.150 Maximum Price Paid For Each Share Purchased : RM 5.300 Total Consideration Paid : RM 113,950.00 No. of Shares Purchased Retained in Treasury : 22,000 shares No. of Shares Which Are Proposed To Be Cancelled : shares Cumulative Net Outstanding Treasury Shares As At To-Date : 5,396,000 shares Adjusted Issued Capital After Cancellation : 0 Date Lodged With Registrar of Company : Lodged By : Remarks: N/A Submitted By: Ms. Chua Siew Chuan

18/02/2008   06:06 PM

东邪

7113

Changes in Sub. S-hldr's Int. (29B)

Particulars of Shareholder 36 Name : The Overlook Partners Fund LP NRIC/Passport No./Company No. : - Nationality/Country of Incorporation : Cayman Islands Address: c/o Overlook Investments Limited 1702 Dina House 11 Duddell Street Central, Hong Kong Descriptions (Class and Nominal Value): Ordinary Shares of RM0.50 each Name and Address of Registered Holder: HSBC Bank Malaysia Bhd 2 Leboh Ampang 50100 Kuala Lumpur Details of Changes Date of Notice : 19/02/2008 Transactions: No. Date Transaction Type No of Shares Price (RM) 1. 15/02/2008 Acquired 680,000 - Circumstances by reason of which change has occurred: Purchase Nature of Interest: Direct Consideration: No of Shares Held After Changes: Direct : 16,639,580 shares (5.6300%) Indirect/Deemed Interest : 0 shares (0.0000%) Total : 16,639,580 shares Remarks: The 680,000 shares were purchased between 14 February 2008 to 15 February 2008 Submitted By: Ms. Chua Siew Chuan

19/02/2008   06:17 PM

东邪

7113

Notice of Shares Buy Back - Immediate Announcement

Date of Buy Back : 19/02/2008 Description of Shares Purchased : Ordinary Shares of RM0.50 No. of Shares Purchased : 25,000 shares Minimum Price Paid For Each Share Purchased : RM 5.100 Maximum Price Paid For Each Share Purchased : RM 5.150 Total Consideration Paid : RM 127,975.00 No. of Shares Purchased Retained in Treasury : 25,000 shares No. of Shares Which Are Proposed To Be Cancelled : shares Cumulative Net Outstanding Treasury Shares As At To-Date : 5,421,000 shares Adjusted Issued Capital After Cancellation : 0 Date Lodged With Registrar of Company : Lodged By : Remarks: N/A Submitted By: Ms. Chua Siew Chuan

19/02/2008   06:18 PM

scsiang82

Ban On Latex Gloves By Johns Hopkins Motivated By Trade Issues


KUALA LUMPUR, Feb 20 (Bernama) -- Top latex producers in Malaysia are unperturbed by attempts by an American hospital to discredit their latex gloves as it is a decades-old issue being resurrected for reasons motivated more by fear of losing markets rather than any real health or medical issue.

Morever, the U.S. Food and Drug Administration (FDA) does not ban it while American demand for latex gloves from Malaysia is brisk with imports increasing steadily over the years.

These follows a ban on latex gloves by Johns Hopkins Hospital in its premises in Baltimore over claims that such gloves cause allergic reactions known as anaphylaxis which could be fatal.

However, no deaths have been reported so far.

"The perplexing questions are, why Johns Hopkins Hospital in Baltimore banned the product when FDA does not ban it, Supermax Corporation Bhd chief executive officer Datuk Stanley Thai, said in response to a Bernama query.

As such, he perceives it as "purely a trade issue rather than technical issue."

Top Glove Corporation Bhd executive director, Lim Cheong Guan, said the ban was neither new nor unexpected, but believes that must be a hidden motive for the hospital to resort to such a move.

He said all medical gloves exported to the U.S. were subject to stringent tests by FDA, and the production in the factories follow procedures and standards based on the accreditation and accolades by health authorities from countries which export to the U.S.

"The production lines must also comply with the stringent requirement of the minimum protein content as set up by MRB (Malaysian Rubber Board)," said Lim.

He likened the ban against latex gloves to campaigns to stop palm oil in the 80s mounted by the American Soyban Association mainly due to the latter successfully competing against Americas soy bean oil.

"It is surprising that tobacco is not totally banned, when it has proven to be more harmful to human health," he said.

Citing figures from Global Trade Atlas, Thai said the U.S. imported 18.4 billion pairs of rubber gloves worth US$1.2 billion in 2006, of which 9.2 billion pairs worth about US$600 million came from Malaysia.

This was a steady growth from 2004 when the U.S. imported 17.6 billion pairs of gloves worth US$1.03 billion, with 8.6 billion pairs worth about US$500 million from Malaysia.

"The reality is, there are many high quality latex gloves available in the market which would not cause any allergic reaction to some sensitive individuals," Thai said.

Latex proteins contained in powder latex gloves were identified as the main cause of allergic reaction to some individuals in the healthcare industry way back in year 1989, he said.

To date, due to advances in rubber technology and continuous technical research, most of the powder latex gloves contain low protein, he said.

"The industry has not had any new reported cases of latex allergy nor any new litigation involving latex allergy since 1995," he said.

Today, many users in the healthcare industry have switched to using Powder Free Latex Gloves that are almost protein free.

He said the powder free latex glove is not known to cause any allergic reaction to most sensitive individuals.

"Now, Synthetic Nitrile Powder Free gloves also command a growing demand in the healthcare industry. Nitrile Gloves are protein-free, which the Supermax group is also producing in Malaysia," he said.

As a result, less than 10 percent of the hospitals in Malaysia are using powder latex gloves as most of them have switched to using either Powder Free, low Protein Latex Gloves or Synthetic Nitrile Powder Free Gloves at the moment, he said.

"Nitrile Powder Free gloves are 20 percent to 25 percent more costly than Powder Free Latex Gloves.

Any ban in the usage of high quality latex gloves would mean that the hospitals would incur a 20-25 percent increase in costs for their healthcare consumables," Thai said.

On whether other hospitals and medical institutions in the U.S. would follow Johns Hopkins, he said: "Yes, there would be some hospitals taking similar action in the future" but there are more than 10,000 hospitals operating in the U.S.

Therefore, the percentage would be small especially now that the new National budget for the healthcare under Bush Administration is being cut or reduced, he said.

"Using Powder Free, low protein latex gloves would help the hospitals save substantially on the costs for disposable medical items.

"But, Supermax is ready to ramp up production of Nitrile powder Free should the demand for the synthetic Nitrile gloves continue to grow," he said.

It also anticipates that the demand for Synthetic Nitrile Glove to continue to grow and faster if more hospitals decide to ban the usage of latex gloves, he said.

Currently, the company does not supply directly to any hospitals in the U.S. but sells them to their customers who are medical distributors who then distributes the gloves to the hospitals.

Supermax also sells to the dental, pharmaceutical, scientific laboratory, food services industries and the industrial market.

The company sold less than 15 percent of powder gloves to the U.S. market last year, as the markets that it serves mainly require powder free medical grade latex gloves and synthetic powder free medical gloves.

"Therefore, the ban of usage of latex gloves by Johns Hopkins will not have any negative impact on Supermax Group," he stressed.

Top Gloves Lim said if the ban was due to medical reasons, FDA would be the first to ban the usage of latex gloves in the U.S.

And, if the impact of latex glove allergy is really that bad as claimed, FDA will have initiated the ban on all hospitals, he said.

"We believe there are other reasons behind it which we are not aware of," he said.

Top Glove might be indirectly supplying gloves to Johns Hopkins through its importers or distributors.

However, he said other hospitals and medical institutions are unlikely to copy the ban.

"The ban only applies to Johns Hopkins hospitals which is a small percentage of total hospitals in the U.S.," he said.

Lim said he does not expect any reduction in sales of latex gloves to the U.S. so far.

He said the usage of nitrile gloves will subsequently be bad for the environment as nitrile gloves were not bio-degradable, unlike latex gloves.

Besides latex gloves to the U.S. , the company was selling other synthetic gloves such as nitrile and vinyl gloves.

"Top Glove produces based on customers requirements and orders. If there is more demand for nitrile gloves, the production lines in Malaysia are interchangeable and can produce nitrile or latex gloves," he said.

The company is selling to more than 180 countries worldwide, with increased focus on developing countries where demand growth rate for gloves is much higher than the U.S., Lim said.

-- BERNAMA

8years

已经残到要用这种建立信心的广告了，哈哈哈，看来rm5跌破的日子不远了。行业低潮时才可以看到谁人没有穿衣服在游泳。

不过topglove的管理层的确是难得的人才，非常强的人才。只是遇到行业困境时就没有办法了，太过高的pe令到保守的投资者不敢买。还没有讲大选过后马来西亚油价起带来的成本高涨呢。多事之秋啊，管理层再强也必需低迷一段时间。等待吧，pe还太高。

等待将会出现大平卖的时机。

留下眼镜

唉！我已经看清楚了最后回帖的不是东先生才进来的，谁知道又是英文转帖...

tan81

没有想到8年兄也会Quote 巴菲特的句子，“行业低潮时才可以看到谁人没有穿衣服在游泳”。想到林博士裸泳的样子，就很。。。。。



不过，巴菲特的话，有时是过于粗俗。今天我讲的烟屁股，也惹得误会。

8years

这是我最喜欢用在被高估的股票里的话。太过乐观的人们都会在熊市里死得很惨，什么洞都盖不住。worst can always be worst。

pya_ch

原帖由 tan81 于 21-2-2008 12:27 AM 发表
没有想到8年兄也会Quote 巴菲特的句子，“行业低潮时才可以看到谁人没有穿衣服在游泳”。想到林博士裸泳的样子，就很。。。。。



不过，巴菲特的话，有时是过于粗俗。今天我讲的烟屁股，也惹得 ...

再次声明，我没生气，
否则我现在应该恨8years很久了，
怎么还会跟他吹水

chopnel

禁用符合标准大马塑胶手套　美国医院动机不明
二零零八年二月二十一日 凌晨十二时三十二分


（吉隆坡20日讯）大马首要胶汁制造商对美国一家医院，尝试诋毁他们的塑胶手套表示泰然自若。因为这是在健康或医药课题的背后，重新挑起害怕失去市场的数十年来的问题。

尽管如此，美国食品及药物管理局（FDA）并没有禁用有关塑胶手套，反之大马出口的塑胶手套近几年来稳健地增加。

美国巴尔的摩的约翰·霍普金斯医院（Johns Hopkins Hospital）指责该手套可能造成致命的“过敏性反应”（anaphylaxis）过敏症，而禁用这类手套。

无论如何，截至目前为止，没有任何死亡报告。

Supermax Corporation Bhd首席执行员拿督Stanley Thai回应《马新社》时透露：“令人困惑的是，巴尔的摩的约翰·霍普金斯医院禁用该产品，但FDA却没有禁用。”

既然是这样，他认为这是“纯粹只是商业课题，而非技术上的问题。”

顶级手套（Top Glove Corporation Bhd）执行董事林忠源（译音）表示，有关禁令即不新鲜，也不意外，但相信有关医院做出这样的举动背后一定隐藏着动机。

他指出，所有出口至美国的医药手套，都须经过FDA严密的检验，而工厂的制造过程和标准也根据国家卫生部的鉴定和认可。

“生产线也须符合大马橡胶局所订下蛋白质最低成份的条件。”

他把塑胶手套遭禁用联想到80年代由美国大豆协会提倡的禁止棕油运动，主要原因是后来棕油成功击败美国的大豆油。

据了解，粉状橡胶手套所含有的胶汁蛋白质，是造成1989年医药领域一些人员过敏的因素。

Mr.Business

Top Glove现在真是很惨，我觉得是sector的问题，现在不流行出口制造业 (原料成本高，美元一直跌。。。)。

现在应该不是买进Top Glove的时候。我很有兴趣知道股价会破RM５吗，哈。。。可能当5月到了，新ESOS启动，那时Top Glove的情况就会好些了。。。

Mr.Business

經濟學家：今年製造業投資或微幅放緩‧外來投資料達300億

2008-02-20 19:01

（吉隆坡）在全球經濟環境高度不穩定的陰影籠罩下，經濟學家認為2008年製造業投資無法保持去年巔峰水平，所幸經濟走廊發展計劃和良好投資環境烘托私人投資情緒，投資總額不會急劇減少。

今年批准投資額料400至450億

聯昌研究首席經濟學家李興裕表示，製造業重寫去年高投資記錄是“不可能的任務”。今年批准的投資總額將正常化，估計介於400至450億令吉區間。

工業發展局昨天（週二，19日）公佈，2007年全年獲批製造業投資總值按年躍升30.2%至599億令吉。外來直接投資則從2006年的202億令吉激增65%至334億令吉。

李興裕預測：“2008年外來直接投資料支撐在250至300億令吉區間，主要集中在服務、石油與天然氣和製造領域。”

他說，外來直接投資前景看俏，主要是大馬強勁經濟基本面、良好投資環境、5個新經濟走廊的推介以及外國人置業條件放寬。

“經濟走廊發展以及2009年公司稅降至25%，正面催化私人投資領域。”

他指出，若要在第9大馬計劃執行期間（2006至2010年）維持6.5%經濟成長，需要11.2%私人投資成長驅動。

“2006年私人投資增長7%，預計將保持揚升勢頭，2008和2009年加速至10%和11.4%。”

他補充，雖然公共領域傳遞系統改善，但需要加速第9大馬計劃工程執行。今年恰好作中期檢討，政府或增加撥備。

資深經濟學家白文春也認為外圍經濟環境不穩定，預計今年批准投資總額將微幅下滑。

大馬環境穩定吸引外資

“國內經濟走廊刺激私人投資，相關數據並不會劇減。”他表示，美國經濟放緩讓投資批准更謹慎，預見製造業投資出現放緩現象。

同樣的，外來直接投資雖因不穩定因素走緩。但大馬營商和政治環境較穩定，是吸引外資的重要關鍵。

他舉例，電子電器製造業者分散全球投資，一些回流知識產權保障較佳的大馬。另外，原油充足更吸引政局動盪的伊朗前來大馬。

“政府改善傳遞系統和削減企業稅收，帶動私人投資活動。”

白文春指出，即使去年獲批投資總額標青，但對大馬經濟影響胥視計劃的執行。

資料顯示2007年獲准的4432項製造業投資計劃，737項已經投產。總結2002至2007年，執行比率達79.4%。

他表示，無可否認私人投資復甦，但相比以往佔國內生產總值35%比例，已經減少至去年的11%，影響力不比往年顯著。

私人投資表現料超去年

達證券經濟學家黃麗儀展望則較樂觀，相信在石油與天然氣和種植下游業務以及公司稅降低等利因下，私人投資表現超越去年。

“美國影響電子電器投資批准，今年前景展望更謹慎，但相信保持良好表現。”

油氣和下游業務擴張

她表示，石油與天然氣領域探勘和下游業務擴張活動、經濟走廊計劃和企業稅務削減，鼓勵更多的投資活動；2008年私人投資活動進一步加強。

“若去年獲批的投資計劃落實，私人投資成為今年經濟成長推動。”公共投資則因較低400億令吉發展預算而走緩。

黃麗儀指出，營商預先指標表現蓬勃。舉例來說，佔總進口13.9%份額的資本貨品進口按年增長7.3%，反映更高的私人投資活動，特別是建築、石油與天然氣領域。

亞歐美研究經濟學家蘇海米表示，近期發展顯示我國投資展望正面，外國投資者對投資大馬主要領域如製造業、石油與天然氣和服務業興致濃厚。

舉例來說，德國Q-Cells計劃投資10億令吉設廠、Gulf石油斥資158億令吉設立石油和石油化學精練廠、以及汶萊政府投資機構投資大馬酒店和產業領域。

“上述發展為大馬今年經濟發展護航，來自內需支撐性擴張。”尤其是獲批的製造業、服務業和一級領域總投資額，取得32.8%成長至1478億令吉。

星洲日報／財經‧2008.02.20

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