2 years ago
Showing posts with label rubberex. Show all posts
Showing posts with label rubberex. Show all posts
Wednesday, March 24, 2010
OSK maintains Overweight on Malaysian rubber glove makers
OSK maintains Overweight on Malaysian rubber glove makers, following approval of healthcare overhaul bill by U.S. congress; analyst Jason Yap estimates incremental demand from U.S. arising from approval of bill at 768 million gloves annually; says while additional demand "not big," this will add to further supply constraints as glove makers already running at maximum utilization rate and may not have room to ramp up production to meet any surge in demand. "The strong demand will reaffirm their ability to sell the gloves at a premium and pass on 100% of the cost increase to customers," Yap says; names Top Glove (7113.KU), Supermax (7106.KU) and Kossan (7153.KU) as Top Picks. Top Glove last traded +1.2% at MYR13.08, Supermax +1.3% at MYR6.46, Kossan +3.1% at MYR7.64
Wednesday, January 27, 2010
Merrill recommends specific stock picking
By Chong Pooi KoonPublished: 2010/01/27
MERRILL Lynch Wealth Management, which rates China and Hong Kong as its top markets for stocks this year, says it sees limited upside potential for Malaysian shares although selected companies like rubber glove makers can outperform.
"We think Malaysia is rather fully valued, so the strategy has to be specific stock picking," its chief investment officer for Asia Pacific, Stephen Corry, said in a media interview in Kuala Lumpur yesterday.
He said banks with exposure to the improving capital market activities as well as rubber glove makers are likely to perform this year. He did not name the stocks due to the bank's policy.
Merrill Lynch, now a unit of Bank of America following a merger, believes that overall, stocks and commodities will give better returns than bonds and cash this year.
A muted recovery in developed economies will lead to low core inflation and steep yield curves this year, acording to Merrill Lynch.
In contrast, rising longer-term interest rates will make government and corporate bonds less attractive.
"Retail investors are pursuing two strategies as we can see. They believe there could be deflation, so they bought fixed income, specifically A-grade corporate papers. They also thought there could be inflation, that's why they like emerging stocks and commodities.
"People are buying inflation and deflation but they are not buying low inflation and equity, so that's where we see opportunity. That's part of reasons why we think the MSCI All-Country World Index could reach 350 this year, roughly 15 to 20 per cent upside," Corry said.
The combination of huge policy stimulus from governments, a steep yield curve and low volatility are factors that contribute to its bullish view on shares.
Merrill Lynch likes stocks from Europe, Asia as well as emerging market consumer shares.
MERRILL Lynch Wealth Management, which rates China and Hong Kong as its top markets for stocks this year, says it sees limited upside potential for Malaysian shares although selected companies like rubber glove makers can outperform.
"We think Malaysia is rather fully valued, so the strategy has to be specific stock picking," its chief investment officer for Asia Pacific, Stephen Corry, said in a media interview in Kuala Lumpur yesterday.
He said banks with exposure to the improving capital market activities as well as rubber glove makers are likely to perform this year. He did not name the stocks due to the bank's policy.
Merrill Lynch, now a unit of Bank of America following a merger, believes that overall, stocks and commodities will give better returns than bonds and cash this year.
A muted recovery in developed economies will lead to low core inflation and steep yield curves this year, acording to Merrill Lynch.
In contrast, rising longer-term interest rates will make government and corporate bonds less attractive.
"Retail investors are pursuing two strategies as we can see. They believe there could be deflation, so they bought fixed income, specifically A-grade corporate papers. They also thought there could be inflation, that's why they like emerging stocks and commodities.
"People are buying inflation and deflation but they are not buying low inflation and equity, so that's where we see opportunity. That's part of reasons why we think the MSCI All-Country World Index could reach 350 this year, roughly 15 to 20 per cent upside," Corry said.
The combination of huge policy stimulus from governments, a steep yield curve and low volatility are factors that contribute to its bullish view on shares.
Merrill Lynch likes stocks from Europe, Asia as well as emerging market consumer shares.
Saturday, January 23, 2010
Rubberex 4Q net profit up 55% to RM5.61m
Written by Joseph Chin
Friday, 22 January 2010 16:03
KUALA LUMPUR: Rubberex Corp (M) Bhd posted net profit of RM5.61 million for the fourth quarter ended Dec 31, 2009, up 55.5% from the RM3.61 million a year ago due to sales contribution from its China subsidiaries and better profit margins and the company expects China to provide the bulk of the earnings this year.
It said on Friday, Jan 22 revenue rose 16.2% to RM91.72 million from RM78.9 million. Earnings per shares were 6.71 sen compared with 4.56 sen.
For the financial year ended Dec 31, 2009, net profit nearly doubled to RM16.56 million from RM8.63 million a year ago. Revenue was RM325.44 million compared with RM274.51 million.
"Such commendable achievement is mainly contributed by the strong demand of disposable gloves produced by its China operations. The board and management foresee that demand for disposable gloves will show further growth in 2010," it said.
Rubberex said additional production capacity has been installed in China which would increase the output by more than 25% to 5.6 billion pieces annually.
"Even though the industrial gloves segment of our Malaysian operation is showing improvement in orders intake amid encouraging signs of an economic recovery in the US, the management foresees that overall group's earnings growth for this year will continue to be derived mainly from its China operations.
"Barring any unforeseen circumstances, the group’s performance for financial year 2010 will be significantly better than the previous year," it said.
Friday, 22 January 2010 16:03
KUALA LUMPUR: Rubberex Corp (M) Bhd posted net profit of RM5.61 million for the fourth quarter ended Dec 31, 2009, up 55.5% from the RM3.61 million a year ago due to sales contribution from its China subsidiaries and better profit margins and the company expects China to provide the bulk of the earnings this year.
It said on Friday, Jan 22 revenue rose 16.2% to RM91.72 million from RM78.9 million. Earnings per shares were 6.71 sen compared with 4.56 sen.
For the financial year ended Dec 31, 2009, net profit nearly doubled to RM16.56 million from RM8.63 million a year ago. Revenue was RM325.44 million compared with RM274.51 million.
"Such commendable achievement is mainly contributed by the strong demand of disposable gloves produced by its China operations. The board and management foresee that demand for disposable gloves will show further growth in 2010," it said.
Rubberex said additional production capacity has been installed in China which would increase the output by more than 25% to 5.6 billion pieces annually.
"Even though the industrial gloves segment of our Malaysian operation is showing improvement in orders intake amid encouraging signs of an economic recovery in the US, the management foresees that overall group's earnings growth for this year will continue to be derived mainly from its China operations.
"Barring any unforeseen circumstances, the group’s performance for financial year 2010 will be significantly better than the previous year," it said.
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