【TOPGLOV 7113 交流专区】顶级手套

傻人最有傻福

原帖由 xinxinlaoren 于 25-10-2008 09:39 PM 发表
林老板的母親今天過世了， 林偉才希望你能夠節哀順變！！

是吗？？？哪里的消息？

xinxinlaoren

小弟是和他同村的。。。

USA

TO : BUSINESS 大大，


1）在成绩还没有出，Insider己知道。
2）Month end effect.

我只是猜测。

Mr.Business

新闻。

Rubber glove prices set to be lowered
By Ooi Tee Ching        
Published: 2008/10/30

The quantum of reduction is expected to be negotiated between the manufacturers and their respective clients

MALAYSIA'S rubber glove makers are looking at lowering glove prices given the sharp fall in the price of latex.

The quantum of reduction is expected to be negotiated between the manufacturers and their respective clients.

"Since latex prices have started to come down more this month, clients are now calling to renegotiate glove prices," Malaysian Rubber Glove Manufacturers' Association (Margma) president Oon Kim Hung said.

Speaking to Business Times, Oon said that many of the association's members buy forward their latex and the usual time lag for new pricing is between six and eight weeks.

Top Glove Bhd executive director Lee Kim Meow said that major clients had asked for a discount in glove prices in view of falling latex prices.

"Certainly, we're giving discounts, but the amount is only to an extent that we can afford," he said.

Lee added that the rubber glove industry was a dynamic one, with glove prices constantly adjusted to take account of latex prices.

Despite the impending price cut, local glove makers are optimistic of maintaining eight per cent growth in exports to RM6.35 billion this year.

According to the Statistics Department, Malaysia exported some RM4.4 billion worth of gloves from January to August this year, up 13 per cent from the previous corresponding period.

Thailand, Indonesia and Malaysia - the world's biggest rubber producers - are currently meeting in Bangkok to finalise ways to support rubber prices that have plunged to three-year lows.

Latex prices have plunged 40 per cent on the Malaysian Rubber Exchange since July.

Thailand and Malaysia plan to chop down more old and un-productive rubber trees and replant higher-yielding clones to curb immediate supply, while Indonesia has called for planters to reduce their tapping.

In response, Oon said that if latex prices were to rise again, glove makers in Malaysia would act accordingly.

The Asean Rubber Business Council, in a statement issued in Kuala Lumpur recently, called for urgency in upholding contract sanctity.

As rubber prices fall, buyers are tempted to delay accepting delivery in the hope of paying a lower price later.

http://www.btimes.com.my/Current ... ubba-2.xml/Article/

scsiang82

更新: October 30, 2008 22:53

頂級手套：影響小園主收入
減產抑制膠價不實際


（吉隆坡30日訊）頂級手套（TOPGLOV，7113，主板工業）指出，橡膠減產以抑制膠價下跌，是不實際的舉措，因為這只會影響小園主收入。

頂級手套主席丹斯里林偉才博士指出，橡膠與棕油減產不應相提並論，棕油產量是由集團主導，橡膠種植則多數是由小園主負責。

“如果減產，會影響小園主收入，這是不實際的舉措。”

他在公司末季業績媒體匯報會后說，業界將繼續維持橡膠產量，惟仍需看“氣候”臉色。

另外，頂級手套執行董事林將源指出，正考慮將內部現金儲備逾1億令吉，撥出約8000萬令吉，做為09財年資本開銷用途。

“如果借貸融資，或將借貸約2000萬令吉。”

短期不再發債

林將源說，頂級手套在05年發行7000萬令吉的回債，預計在今年12月開始償還1500萬令吉，並將在明年12月還額外的2500萬令吉，及2010年12月償還3000萬令吉。

他補充，公司近期不可能再發行債券。

此外，膠乳（latex）價在9月下跌32%，林將源預計，膠乳價將在明年和2010年各成長20%。

林偉才指出：“目前開放併購機會，我們與多個來自大馬、泰國及印尼潛在夥伴洽談，惟它們貢獻集團份額仍未有定案。”

http://www.chinapress.com.my/content_new.asp?dt=2008-10-31&sec=business&art=1031bs12.txt

scsiang82

有信心雙位數成長　頂級手套盈利目標減半

2008年10月31日
　  
（吉隆坡30日訊）雖然全球經濟逐漸走弱，身為全球最大塑膠手套製造商的頂級手套（TOPGLOV，7113，主板工業股）依然信心滿滿，預期09財政年營業額和盈利皆有望取得雙位數成長。

在這之前，頂級手套曾把09財政年的淨利目標定為1億5500萬令吉，這個預測比08財政年的1億1000萬令吉，高出41%。

在今日的匯報會上，該公司表示，09財政年的盈利料成長15至20%，與之前設定的目標明顯減半，營業額則預測增長約20%。

頂級手套主席林偉才表示，醫療用途手套的需求依舊相當強穩，而且這類即用即棄的手套都是能夠抗經濟衰退的產品。

乳膠價格在7月份寫新高，令吉在今年初旬走強，加上電源、原油和天然氣漲價的圍攻，很明顯頂級手套剛度過挑戰重重的08財政年。踏入09財政年，該公司預期乳膠價能持穩，而美元走強，對該公司更是無往不利。

一般上，頂級手套會鎖定50%的匯率，特別是美元，時限約1至6個月；然而，原產品則不會進行鎖定政策，都會以之前1個月的價格買進。這足以讓該公司把價格波動的效應，轉嫁給客戶。

另一方面，執行董事林將源透露，為了明年的擴展計劃，09財政年的資本開銷將達8000萬令吉，其中2000萬令吉會向銀行貸款，剩餘的6000萬令吉則通過內部融資，而淨負債率將保持在0.1倍以下。該公司也無意再發行債券，並有信心能夠償還現有3批總值7000萬令吉的債券。

此外，頂級手套預計能在2010年，把24%的全球市佔率，擴大到35%，因此，該公司不排除進行收購計劃。目前，該公司19家工廠分別坐落在大馬、中國和泰國，有超過320條生產線，並計劃在下財政年增加工廠數量。

至於產線增加後，會否引起產量過剩問題，林偉才指出，新廠需等一段時間才啟動，目前的產量使用率為70到80%，該公司手上還有20%的儲備，足以應付需求激增的可能性。

http://www2.orientaldaily.com.my/press.php?TASK=news&TYPE=LBZ&NEWS=2sQ905t906ZP8NHD1Byx09od30rm1hU7

scsiang82

Top Glove makes RM80m capacity boost
By Ooi Tee Ching Published: 2008/10/31


TOP Glove Corp Bhd has set aside RM80 million capital expenditure to expand capacity by another 3.75 billion pieces of rubber gloves to 33.5 billion in its current financial year ending August 2009.

While other industries may be cutting back on production due to the global economic slowdown, rubber glovemakers like Top Glove continue to expand as their products - mainly used in hospitals, dental clinics and laboratories - continue to see 10 per cent demand growth every year.

Top Glove's 19 factories can churn out 29.8 billion pieces, maintaining its lead as the world's biggest rubber glove maker. On a daily basis, one in four rubber gloves used in the world is made by Top Glove.

"We've set aside RM80 million to add capacity. It will mostly come from internal funds as our cash reserves are more than RM100 million. If we need to borrow, it'll only be around RM20 million," said executive director Lim Cheong Guan.



In December 2008, Top Glove issued RM70 million Islamic bonds. Lim said the company has enough funds to meet the first tranche of repayment of RM15 million to bondholders in December 2008. The second payment of RM25 million is due in December 2009 and the remainder RM30 million, a year later.

At an analyst briefing in Kuala Lumpur yesterday, Top Glove chairman Tan Sri Lim Wee-Chai remarked that the worst is over. The company has just announced a dividend payout amounting to 22 per cent of profits for the financial year ended August 2008, two per cent more than previously.

The outlook was not as bright six months ago. At that time, Top Glove was staring at a weakening US dollar, costlier latex and more expensive petrol, electricity and natural gas. Today, it sees better profits, thanks to a stronger US dollar and cheaper latex.

In July, latex traded at its all time high of RM7.20 per kg on the Malaysian Rubber Exchange. In the last three months, however, it fell to as low as RM4.06 per kg. Last week, it started to climb again and yesterday closed at RM4.38 per kg.

The recent price rise in latex could be attributed to the tri-partite arrangement between rubber producers in Thailand, Indonesia and Malaysia to collectively cut back production by 210,000 tonnes next year by chopping more old rubber trees and replanting with higher yielding clones.

When asked on the prospects of costlier latex, Lim Wee-Chai said the company will adjust glove prices accordingly. Latex make up 56 per cent of Top Glove's production cost.

He said latex price is more influenced by crude oil prices. Prices of natural rubber and synthetic rubber, a derivative of crude oil, tend to move in tandem with each other because tyre manufacturers use both ingredients in their production.

Yesterday, crude oil on the New York Mercantile Exchange rose US$1.24 (RM4.40) to US$68.74 (RM244) per barrel. It has more than halved from its record high of US$147.27 (RM522.81) in July.

http://www.btimes.com.my/Current_News/BTIMES/Friday/Nation/Tglurv.xml/Article/

傻人最有傻福

（吉隆坡）儘管當前經濟蕭條，不過全球最大橡膠手套製造商頂級手套（TOPGLOV,7113,主板工業產品組）仍信心滿滿將2009財政年的營業額成長預估鎖定在20%。
此公司主席丹斯里林偉才在匯報會上表示，公司處在全球經濟衰退的洪流中，因此也無法倖免，不過慶幸的是影響程度頗小，因為各行業對產品的需求仍高企。
他說：“只要管理妥當，加上公司擁有良好的團隊，相信能抵御這場經濟風暴。”
儘管最大成本的乳交價格從7月份7令吉20仙高峰，這幾個月來像坐“雲霄飛車”般滑落至目前約4令吉30仙，卻未必能讓公司受惠。
籌8000萬資本開銷作拓展用途
“目前市場競爭激烈，當價格下降後，購買者也非常聰明地要求我們降低價格。”
他希望原產品的價格能趨穩，不會出現大幅波動，並認為目前乳膠的價格相當合理。
頂級手套計劃籌集8000萬令吉資本開銷作為拓展用途，其中6000萬令吉通過內部融資，其餘的2000萬則向銀行借貸。雖然市道不佳，不過卻不阻止此公司繼續進行拓展計劃。
詢及公司會否仿效原油領域進行減產，林偉才認為這個方式不能套用在橡膠身上，因為將導致收益減少。
為貨幣進行護盤
同時，此公司也為貨幣進行護盤，尤其是美元，以降低交易貨幣帶來的風險。護盤期間介於1至6個月。
至於購買原產品方面，此公司會參照過去幾個月份的價格，而小心翼翼地進行評估。
“無論原產品價格起或跌，我們都得將成本轉嫁至消費人的身上，整個過程絕對具透明度。”
頂級手套工廠的產能達70至80%，因此還有逾20%的產能作為後備，以應付突增的需求。
林偉才不排除任良好的併購計劃，不過仍以公司內需成長為大前提，和以最安全和何低風險作為考量。
目前此公司的負債比處於0.1倍以下，並承諾將繼續維持在這個水平。
截至2008年8月31日止財政年，此公司的淨利達1億零810萬令吉，營業額則取得13億7000萬令吉。
專利侵權案 TILLOTSON上訴
頂級手套有勝算
早前頂級手套被TILLOTSON機構指控專利侵權一案已獲得勝利，不過最近TILLOTSON又向美國法庭提出上訴。此公司執行董事李金謀表示，美國當局會在下個月決定是否接納這起上訴案。一旦獲得接納，需要1至1年半的時間來處理，到了2010年初後，有關專利已經無效了。
他強調：“我們的勝算是挺大的，因此不必擔心。”

傻人最有傻福

General Announcement

Reference No TGC-081031-30653

Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	31/10/2008

Type	:	Announcement
Subject	:	TOP GLOVE CORPORATION BERHAD (“the Company” or “Top Glove”) Article Entitled - Top Glove targets 15%-20% higher net profit in FY09
Contents	:	Referenceis made to the above-mentioned article appearing in Financial Dialy,page 7 on Friday, 31 October 2008 and in particular, the followingstatements in the reported article: "Top Glove Corporation Bhd... expects a slower profit growth of between15% and 20% for its fiscal year ending Aug 31, 2009." and "Lim said itwas targeting a 20% revenue growth in FY09". The Company would like to inform that the targeted profit growth andthe revenue for financial year 2009 are based on the Company'shistorical group sales and net profit of the past seven (7) yearsaverage growth rate. Append hereunder an extract of the Company’s historical group sales andnet profit record computed based on the audited accounts from thefinancial years ended 2001 to 2007 and the unaudited accounts for thefinancial year ended 31 August 2008. Based on the table below, the Company’s average sales and net profitgrowth rate was 39.77% and 33.01% respectively. Therefore, based onthis computation coupled with the current operating environment, theCompany is targeting the profit growth of between 15% and 20% andrevenue growth of 20% in financial year 2009. The Company will continue to put in more effort in the commissioning ofnew factories and production lines, deploying various marketing andbusiness strategies to achieve both the revenue and net profit targets. The projected figures mentioned in the above paragraph have not been reviewed by any external auditors. This announcement is dated 31 October 2008.

傻人最有傻福

Historical Group Sales and Net Profits extracted from the Audited Accounts for the financial year ended 31 August 2001 to 2007 and the Unaudited Accounts for the financial year ended 31 August 2008  

Financial year	Sales Achieved (RM'000)	Growth Rate (%)	Net Profit Achieved (RM'000)	Growth Rate (%)
2001	138,862	N/A	15,901	N/A
2002	180,202	29.77	18,059	13.57
2003	265,089	47.11	25,259	39.87
2004	418,133	57.73	39,534	56.51
2005	641,827	53.50	58,141	47.07
2006	992,661	54.65	84,125	44.69
2007	1,228,778	23.79	89,560	6.46
2008	1,374,196	11.83	110,064	22.89
Total growth rate		278.39		231.07
Average annual growth rate per year		39.77		33.01

© 2008, Bursa Malaysia Berhad. All Rights Reserved.

傻人最有傻福

Changes in Director's Interest Pursuant to Section 135 of the Companies Act. 1965

Reference No CS-081104-81443

Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	04/11/2008

Information Compiled By Bursa Malaysia

Particulars of Director

Name	:	Sekarajasekaran A/L Arasaratnam
Address	:	No. 3 Jalan 12/9 46200 Petaling Jaya Selangor Darul Ehsan
Descriptions(Class & nominal value)	:	Ordinary Shares of RM0.50 each

Details of changes

Type of transaction	Date of change	No of securities	Price Transacted (RM)
Disposed	23/10/2008	15,800
Disposed	24/10/2008	10,000
Disposed	28/10/2008	30,000
Disposed	29/10/2008	26,500

Circumstances by reason of which change has occurred	:	Disposal of Shares
Nature of interest	:	Direct
Consideration (if any)	:

Total no of securities after change
Direct (units)	:	9,809,369
Direct (%)	:	3.33
Indirect/deemed interest (units)	:
Indirect/deemed interest (%)	:
Date of notice	:	03/11/2008
Remarks
Balance of shares: - Direct Interest: Sekarajasekaran A/L Arasaratnam - 9,809,369 shares

傻人最有傻福

Entitlements (Notice of Book Closure)

Reference No CS-081127-415C8

Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	27/11/2008

EX-date	:	13/02/2009
Entitlement date	:	17/02/2009
Entitlement time	:	04:00:00 PM
Entitlement subject	:	Final Dividend
Entitlement description	:	Single Tier Final Dividend of 12%
Period of interest payment	:	to
Financial Year End	:	31/08/2008
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	:	16/03/2009
a. Securities transferred into the Depositor's Securities Account before 4:00 pm in respect of transfers	:	17/02/2009
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

傻人最有傻福

膠手套公司逆市成長

（吉隆坡）全球經濟衰退對膠手套行業的影響不顯著，主要是膠手套為必需品優勢，同時生產原料膠乳價格從高峰回軟、美元匯率走高舒解外匯壓力等利好，使膠手套公司業務表現仍可在逆市中健全成長。
兩家主要膠手套公司高產尼品（KOSSAN,7153,主板工業產品組）及頂級手套（TOPGLOV,7113,主板工業產品組）管理層皆表示，膠手套需求仍然穩健，特別來自保健領域需求，主要是人們對衛生及保健意識提高，從而刺激膠手套需求。
膠手套暫時還沒有替代品，使2009年的膠手套需求預計在逆市中仍可成長8%至12%（2008年為增長12%），對整體行業有利。
大馬研究表示，膠手套主要原料膠乳價格於2008年7月達到每公斤6令吉90仙高峰之後，截至今年11月杪已跌至平均每公斤4令吉50仙價位。過去5年，膠乳價格的谷底價格於2004年12月達到每公斤2令吉90仙，所以，目前價格還是有下跌空間。
膠乳價格下跌，使膠手套製造商生產成本下跌，吸引有意朝向低價產品的客戶，如人造膠手套或低等級膠乳手套等。因膠乳佔生產成本55%至60%間。一些生產工廠轉向使用環保生物燃料取代天然氣，也降低生產成本。


                星洲互動‧2008.12.10

hooray86

加入TOPGLOVE家庭，林老板加油。

KraZySE

这两天TOPGLOV的股价涨好快。。。是因为水涨船高，还是因为等一下的季报有好消息呢？

smallpotato

今天，q1的finance report 出了
基本面，还是没变坏
EPS是11。6
比起去年同期增长了17%
新的一年，是个好的开始

TOP GLOVE是我进入股海的第一只股
望各位前辈，多多指教

u346018

原帖由 KraZySE 于 6-1-2009 03:51 PM 发表
这两天TOPGLOV的股价涨好快。。。是因为水涨船高，还是因为等一下的季报有好消息呢？

业绩报告出来了，
不错的业绩。

我想这是唯一不受金融风暴影响的行业吧！

傻人最有傻福

Affin Investment Bank, which maintains the stock'starget price of RM4.30, sees emerging markets like India and China tobe key markets for Top GloveAFFIN Investment Bank expects Top Glove Corp Bhd's 2009 financial yearto be a bumper year, driven by lower latex prices and a weaker ringgitagainst the US dollar.

"Earnings are also relatively defensive given resilient demand formedical gloves despite the current economic turmoil. Global demand forrubber gloves has been growing at eight to 10 per cent annually," itsaid in a research report yesterday.

Emerging markets likeIndia and China will be key markets for Top Glove given its strengthenin producing powdered gloves, which appeals to price-sensitivecustomers' initial foray into basic healthcare practices.

Also,government spending on healthcare in India and China is less than fiveper cent compared with 16 to 18 per cent for the US and Japan.

Although capacity expansion plans have slowed down dueto the liquidity crunch, this allows greater focus on improvingefficiency and conserving cash amid tighter credit policies by banks.

About RM80 million had been earmarked for capital expenditure in 2009,funded by operating cash flows of RM93 million and its RM122 millioncash pile (as at fourth quarter 2008).

Expansion plans for 2009includes additional capacity for three billion pieces of gloves,estimated to cost around RM30 million.

  Affin maintains its "ADD" rating and target price of RM4.30 pegged at 2009 price-earnings of nine times.

"For exposure to the resilient rubber glove sector, we prefer Kossanfor its strong foothold in the premium gloves segment, which issubjected to less competition and better pricing power compared torun-of-the-mill powdered gloves," it added.

  Shares of Top Glove closed 5.79 per cent up to RM4.02 yesterday.

888hl

2008顶级手套我不喜欢它因为股价跌
现在没有原因不喜欢它了
今年是它的年

ThermoFisher

首季業績符預期‧頂級手套前景亮麗
大馬財經  2009-01-08 12:22

（吉隆坡）頂級手套（TOPGLOV,7113,主板工業產品組）2009年首季業績符合預期，在原料價格與美元回穩、需求與產能續增等條件下，搭配多元的產品與客戶群，此股繼續獲得唱好。

分析員基於乳膠汁保持低價，大部份出口為“抗衰退”的醫療與食品用途手套，因此認為其2009年前景料保持亮麗。

受上述亮麗業績激勵，頂級手套早盤股價一度飆高3.3%或14仙，至4令吉16仙，閉市時漲幅大幅收窄至8仙，掛4令吉10仙。

原料跌價美元走高

僑豐研究與大馬投資指出，頂級手套截至11月30日2009年首季營業額與盈利分別增長15%與16%，主要是產能增長、稅務由35%降至20%、更佳品管與成本效益所致，包括中國廠房的8條乙烯（vinyl ）生產線去年10月投入生產，每年增加生產7億5000萬隻手套。

“乳膠等原料跌價和美元的走高，亦對此公司盈利作積極貢獻，尤其乳膠由去年7月最高的每公斤6.92令吉，下調50%至目前的3.54令吉，美元的走強則協助消除賺益壓力。”

不過，分析員也強調，由於此公司大部分銷售皆以美元計價，因此乳膠價因氣候因素波動與原油和美元走勢，將使此公司存在一些風險。

“管理層認為乳膠於今年持穩至每公斤4至5令吉。儘管未來幾個月因落葉季節使膠價漲高，不過常年平均乳膠價料徘徊於4令吉50仙和5令吉20仙之間。”

聯昌研究指出，首季銷售按年增長15%，主要是平均售價於2008年增長15%至20%增強賺益，銷售額亦走強。乳膠價於2008上半年上漲、天然氣價調漲22%，該公司也同步調漲產品售價。

客戶群多元化

達證券表示，展望未來，油價維持低價，預期乳膠價維持低水平，在產能不斷擴充、實施更佳成本架構下，頂級手套可望在2009財政年獲取佳績。

頂級手套目前共有19間工廠，大馬13間、泰國4間、中國2間，總共有339條生產線，年產能達300億隻。一旦巴生第20座廠房的16條生產線、泰國廠房的8條生產線等陸續投產，產能將進一步擴至380億隻。

分析員認為，頂級手套公司的手套需求料保持韌力，因為所供應的手套大多作為發達國的醫療保健與食品用途。可能受經濟氛圍衝擊的工業手套，只佔總產量不足5%。

“不僅如此，其客戶群亦多元化，180個國家的850客戶中，單一客戶的手套需求未超過頂級手套營業額的5%，也有助於分散風險。”

星洲日報／財經‧2009.01.08