【TOPGLOV 7113 交流专区】顶级手套

loong81

顶级手套的股价实在令人失望

8years

真有点担心topglove又再开始新一轮的跌势了。。。。。不过cari应该没有任何人持有了。如果还有人持有，如果看了这贴都还有人持有，那真的是。。。。。。。。

忘记讲，股价继续下跌会导致一些force sell的情况。原因有是一些股东是借钱来持有股票的。所以这就是为什么主席非常注重股价的原因。

Mr.Business

新闻。

04-08-2008: Top Glove issues profit warning
by Racheal Lee Mei Nyee

KLANG: Top Glove Corporation Bhd, the world’s largest rubber glove maker, does not expect to meet its target of RM125 million net profit for its financial year ending Aug 31, 2008 (FY08), said executive director Lim Cheong Guan.

For the nine months to May 31, 2008, the company’s net profit rose 11.6% to RM84.96 million from RM76.12 million a year earlier. Annualised, the profit for FY08 would be about RM113 million.

“It is very difficult for us to get RM40 million net profit in one quarter, especially when the US dollar is weakening and (with the) several cautious steps we have taken amid the concerns on the uncertain market situation.

“However, we will try our best,” Lim told The Edge Financial Daily in a recent interview. The company posted a 12-year-high net profit of RM103 million in FY07.

Nevertheless, the company is targeting to pay a total dividend of 22%, or 11 sen per share, in FY08 against 20% or 10 sen per share in FY07. As of May, it had declared an interim dividend of 10%, or five sen per share.

Similarly, Lim said the company is most likely to fall short of its targeted RM1.55 billion in sales revenue, expecting instead to reach RM1.4 billion. However, he believed that its performance in FY08 would still be better than that in FY07.

Top Glove’s cumulative sales revenue for the nine months breached RM1 billion in FY08 compared with RM921.22 million a year earlier. It posted a record revenue of RM1.23 billion in FY07. The company controls 25% of the global rubber glove market.

Analysts’ consensus forecast has Top Glove’s net profit at RM114.55 million for FY08. An analyst with a local bank expects Top Glove’s FY08 net profit to reach only RM112 million. “There is only one quarter left and I don’t think Top Glove can make RM40 million in this short period. Furthermore, its profit margin is under pressure following the higher raw material prices and weakening currency,” he said.

“There is a possibility of the market slowing down, and it might have a slight impact on Top Glove. However, the company’s operations in China are doing well and have received high demand. It would contribute to their bottom line.”

On the industry outlook, the analyst said he was concerned that demand would slow down. He believed that glove makers would be cautious of any capacity expansion and investment.

In line with the uncertain market, Top Glove has reduced its capacity utilisation to 80% from more than 90% previously. However, Lim said the reduced capacity utilisation had not affected sales growth.

“We are not as aggressive as last time. We are cautious about the market situation and have slowed down our production rate. Some factories are not fully operated,” Lim said. Top Glove has an annual production capacity of 30 billion pieces of gloves.

“We are an original equipment manufacturer, and we produce gloves based on customers’ requirements. It is unlikely for us to see reduced demand, as gloves are a necessity in some industries,” Lim said.

Top Glove exports its products to 180 countries, with the United States and Europe each contributing 30% to its revenue. Asia makes up 12%.

“We see more business potential in Asia, especially India and China,” Lim said. About 80% of its gloves are sold to the medical industry.

With some minor glove makers expected to cease operations during this difficult period, Lim sees it as an opportunity for Top Glove to get more business.

In mitigating the escalating raw material prices, Top Glove has increased glove prices since May. Latex powdered gloves, which make up 52% of its total revenue, are currently sold at US$27 per 1,000 pieces, up from US$23 per 1,000 pieces in May.

“We pass 100% of the cost of natural gas, electricity, fuel and chemicals to customers. For latex, we absorb 20% of the cost and pass the other 80% to the customers,” Lim said.

He was confident that raising prices to retain profit margin would not dent its competitiveness against rivals in Thailand and Indonesia.

“The cost of making gloves in Thailand and Indonesia is much higher than in Malaysia. For example, the natural gas price in Thailand is RM38 per mmBtu (million metric British thermal unit). Our gap (of cost) was reduced only after inflation, but their cost is still higher than us,” he added.

Lim also dismissed suggestions that using biomass as fuel could be expensive, as manufacturers had to maintain boilers and also provide storage for biomass materials.

“Before the increase in natural gas prices, the production cost of using either biomass or natural gas was similar. However, the government has raised the price of natural gas by 71% to RM22.06 per mmBtu from Aug 1.

“After deducting the cost of storing biomass materials and maintaining the boilers, we could still save up to 70% compared to using natural gas,” Lim said, adding that Top Glove was using palm kernel shells, empty fruit bunches and wood chips to feed its boilers.

The government had on June 4 announced that it would increase the selling price of natural gas by as much as 187% to RM32.56 mmBtu by July 1. However, it has deferred the full implementation and the price hike would be gradual over the next 10 years until they are on par with global prices.

Lim noted that the cost of building a biomass-powered boiler is RM5 million more than the cost of installing natural gas piping. “The construction cost for a biomass-powered boiler is more expensive but we can save on the operating cost in the long run,” he said.

With the costlier natural gas, the company estimated that fuel would constitute about 11% of its overall production cost compared with 8% previously.

However, Lim said the cost would be reduced by 1% to 2% upon the completion of two factories which would use biomass. The factories would be completed in August and October, respectively. At present, Top Glove has four factories with biomass-powered boilers — two in Malaysia and two in Thailand.

Moving forward, the company would spend 1% of its revenue annually on research and development (R&D) in technology, which could save another 10% to 20% in cost.

Asked if Top Glove would expand its upstream businesses, Lim said: “We are actually exploring a joint-venture opportunity with the government or third party to lease rubber estate. However, nothing is concrete yet.”

“We are not in a hurry to buy rubber estate as we have two latex concentrate plants in Thailand to process raw latex. Rubber estate is very costly now,” he added.

The two factories in Thailand have a total capacity of 70,000 tonnes per annum, supplying 60% to 70% of Top Glove’s latex needs.

http://www.theedgedaily.com/cms/ ... a-21447f00-3416e655

[ 本帖最后由 Mr.Business 于 5-8-2008 11:54 AM 编辑 ]

Mr.Business

我从来没怀疑过林博士的品德。林博士是有点好强 (例如好消息就是他宣布，坏消息就让Lim Cheong Guan宣布 )，不过我不以为他的品德有问题。

TopGlove还是没发出新的ESOS。想要买进TopGlove的网友可以考虑等TopGlove先发出新的ESOS。。。

34350

Particular of Substantial Shareholder
Name	The Overlook Partners Fund LP

Change Detail
Change Date	4 Aug 2008
Change Reason	Purchase
Nature of Interest	Direct

Transaction Detail
Transaction Type	Date of Change	No of Securities	Price Transacted (RM)
Acquired	31 Jul 2008	500,000	0.000

No of Securities after Change
Direct Interest (units)	22,217,680
Direct Interest (%)	7.545
Total Share after Change	22,217,680

34350

The Overlook Partners Fund LP 一直在马不停蹄的买进顶级手套，在短短的时间之内已经增持到 7.545% 了。
最近原产品下跌对制造业来说是个是喘息的空间。
原产品下跌而美元也开始止跌回升，对顶级来说是比较正面的。

34350

Mr.Business

好好笑。。。商家赚钱又不见得会分给政府，有困难时却要求政府补助。。。。对天然气的补助根本是在补助外国客户。。。

Industry: Lower price of gas used as oleochem feedstock
By Ooi Tee Ching        
Published: 2008/08/18

MALAYSIA may see its position as the world's leading oleochemical producer in terms of market share undermined by the high prices of natural gas, industry players say.

The Malaysian Oleochemicals Manufacturers Group (MOMG) has appealed to the government to lower the price of gas used as an ingredient in the industry.

The 11 members of the group are willing to pay the new price for gas used as fuel, it said.

The members use about 32 per cent of their gas supply as feedstock to make oleochemicals, MOMG chairman Raymond Yap Ching Chwan said.

"We propose installing separate meters to measure natural gas used as fuel and as feedstock," he told Business Times in an interview.

From July 1 this year until June 30 2009, those using natural gas of less than two million standard cu ft per day (mmscfd) will pay a new rate of RM22.58 per million metric British thermal unit (mmBtu). It was RM12.74 previously.

This means that oleochemical producers will pay RM22.58 per mmBtu for natural gas, whether it is used as fuel or feedstock.

"We accept the higher rate of RM22.58 per mmBtu for gas used as fuel. But when it comes to feedstock, we hope the government will give due consideration to the nature of our industry," said Yap, who is also the chief executive officer of Cognis Oleochemicals Group.

He said the oleochemical producers were already burdened by the huge increases in palm oil and palm kernel oil prices.

Basic oleochemical substances consist of fatty acids, fatty acid methyl esters, fatty alcohols, fatty amines and glycerols made through various chemical processes.

They are used to make detergents, cosmetics, lubricants, soaps, and personal care and industrial products.

Before the natural gas rate increase, MOMG members paid an average of RM190 million per year. A month into paying the new rate, MOMG members estimate their annual gas bill to swell by 1.7 times to RM330 million.

"Natural gas makes up a big part of our processing costs. Before the tariff hike, it was 20 per cent. Now, it is between 30 and 35 per cent," Yap said.

It is now about seven weeks into the higher fuel rate, and Yap said MOMG members find it hard to pass on the full cost, at one go, to clients without risking losing market share to competitors.

According to the Malaysian Palm Oil Board, oleochemical manufacturers in the country can produce 2.6 million tonnes a year, commanding 25 per cent of the global market share.

"We've been the global market leader for the last 10 years. For every four barrels of oleochemicals produced in the world, one is made in and shipped out from Malaysia.

"Until recently, lower gas price was the only advantage we could use to partially offset the expensive palm kernel oil in Malaysia. This raw material is significantly cheaper in Indonesia because the Indonesian government imposes export tax on palm kernel oil.

"Also, our exports to China are effectively shut out by the Chinese government's import duty on oleochemicals," Yap said.

"We need a lead time of 12 months because the quantum of increase is very large and most of our clients order forward by three to six months," he added.

To help offset the increase in fuel cost, the MOMG also proposed that the government channel some of the palm oil windfall tax to the members.

"We propose a RM100 million reprieve from the windfall tax to help us tide over the current challenging period," said Yap.

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

江湖

原帖由 Mr.Business 于 18-8-2008 11:11 AM 发表
好好笑。。。商家赚钱又不见得会分给政府，有困难时却要求政府补助。。。。对天然气的补助根本是在补助外国客户。。。

Industry: Lower price of gas used as oleochem feedstock
By Ooi Tee Ching         
Published ...

这是大马文化。。。。 商家赚钱， 政府有26% 抽。。。

[ 本帖最后由 江湖 于 18-8-2008 01:40 PM 编辑 ]

Mr.Business

新闻。

Thursday August 21, 2008
Glove makers brace for tougher times Players likely to face margin squeeze on higher costs

PETALING JAYA: Rubber glove manufacturers are expected to deliver a fairly bouncy growth for the June quarter in spite of record latex and synthetic rubber prices.

Although they would still show earnings growth, profit margins probably declined due to the high raw material prices. In other words, they did not come through totally unscathed.

The relative resilience of this performance testifies to the capability and focus of management in an industry in which the large plantation groups had tried to diversify into and failed.

The first in the industry to announce in the current results season, Hartalega Holdings Bhd told Bursa Malaysia on Monday it made a net profit of RM12.9mil in its second quarter ended June 30.

The group’s pre-tax profit amounted to RM14.8mil compared with RM10.5mil in the preceding quarter that was affected by about RM1.5mil for equipment and inventories damaged by fire.

Interestingly, Hartalega maintained its net profit margin of 14.6% inthe second quarter, the highest in the industry.

This could be an exception in the industry, with the other players likely to report a compression in profit margins.

A Top Glove Corp Bhd director, for instance, made some comments in a newspaper earlier this month that was interpreted as a “profit warning.” He indicated the company was unlikely meet its management target of a net profit of RM125mil for the year ending Aug 31, 2008.

Top Glove had already experienced a margin squeeze in its third quarter ended May 31 due to the appreciation of the ringgit at that time and as a result, reported flattish earnings.

The company had been examplary in the transparency of its management targets although the latest “profit warning” was not widely disseminated as is the practice in the developed capital markets.

In contrast to the headwinds of ringgit appreciation and rise in raw material costs in the first half year, glove manufacturers will find some relief in the current quarter ending September as latex prices have declined 5% from RM6.24 per kg on Aug 1 to RM5.92 yesterday.

On the flip side, however, they have to contend with higher costs of energy - gas, electricity, diesel and petrol, with the latter raising transport costs.

It was therefore a relief that the Government revised its decision for a sudden surge in the prices for natural gas, and amended that to a more moderate increase to be followed by gradual increases staggered over the next 13 years.

Together, Malaysian rubber glove manufacturers are the world’s leading exporters, with the biggest market share by country. They are competitive but not invincible.

They therefore could use with aid from the Government, where appropriate, and could do without disruptive new regulations.

http://biz.thestar.com.my/news/s ... 68&sec=business

scsiang82

乳膠價有望回跌　手套股下半年業績料反彈

2008年8月26日
報導 - 翁慧琪

（吉隆坡25日訊）兩家膠手套公司公佈08財政年次季業績，反映了它們的賺幅深受高乳膠價格衝擊，惟分析員相信乳膠價逐漸走緩，將能夠讓膠手套公司的表現在下半年回穩。

雖然市場早已預料乳膠的高價格會帶來影響，但速伯瑪(SUPERMX，7106，主板工業股)的08財政年次季業績，表現依舊令人失望。該集團僅寫下1380萬令吉的淨利，（而營業額則取得1億9150萬令吉），滑落12.3%依舊微漲0.9%。

速伯瑪差於分析員預測的業績，最大因素是聯號公司的表現略微遜色。儘管該集團在甘文丁廠多增兩條生產線，但產量卻被LAHAT廠的9條生產線短期關閉所緩和抵銷。

達證券分析員認為，平均乳膠價格會在今年和09財政年，達到每公斤6.10令吉的水平，高於早前的5.80令吉預測。隨著價格預測變動，該分析員亦下調08財政年的盈利預測4.2%，至5710萬令吉，而09財政年預測則是調降3.2%到7550萬令吉。

該分析員保持目標價格1.30令吉，惟投資評級從「守住」調降到「賣出」。

另一方面，高產尼品(KOSSAN，7153，主板工業股)的08財政年上半年淨利，按年激增21%，達2800萬令吉，獲得高漲29%的營業額所扶持。該集團的營收成長，是由膠手套和技術性塑膠產品的高銷售所帶動。

儘管營業額增長，相比於去年同期，高產尼品的上半年毛賺幅，從13.2%滑落到12.6%，因為美元走弱和乳膠價格高漲，導致製造商的盈利受影響。雖然營業額按季上升9%，08財政年次季的淨利卻持平，僅達1400萬令吉。

無論如何，分析員並沒有太擔心高產尼品，特別是近期乳膠價已漸漸舒緩，加上該集團在第四季的20億件額外生產手套，將有助推高下半年的盈利。

艾芬投資銀行分析員預測，高產尼品能夠在09財政年，寫下按年增長17%的淨利表現，高於頂級手套的14%。他看好高產尼品，因為該集團在膠手套市場的地位和穩健盈利成長。他建議「增持」該股，目標價3.05令吉。

http://www2.orientaldaily.com.my/press.php?TASK=news&TYPE=LBZ&NEWS=2q7V0jyU0m7W8Ua70thS82BY2T6a6cuz

Mr.Business

新闻。

Malaysia seen exporting 6pc more rubber gloves
Published: 2008/09/02

MALAYSIAN Rubber Glove Manufacturers’ Association (MARGMA) expects the export of local rubber gloves to grow six per cent this year despite higher raw material prices.

Its president, Oon Kim Hung, said Malaysia exported RM5.88 billion worth of rubber gloves last year.

There is increasing demand for rubber gloves from India, China and Vietnam because of growing health and hygiene awareness, he said after the opening of the Fourth International Rubber Glove Conference and Exhibition 2008 by Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui today.

Malaysia now exports rubber gloves to the US, European Union, Latin America, China and India.

Earlier, Chin said the overall prospects for latex glove industry are still positive despite the challenging times the industry faces now.

He said the global demand for gloves has been growing at the rate of 10 per cent annually to the current world usage of about 65 billion pairs.

“Malaysia continues to be the world’s largest producer, exporting more than 65 per cent of the current global demand for gloves.

“Whether they are producing natural rubber or synthetic rubber gloves, Malaysian manufacturers have endeavoured to ensure that the gloves are of the highest quality and that the barrier performance is not compromised while keeping their production costs low,” he said.

On whether the government would review the windfall tax imposed on palm oil producers following the decline in crude palm oil prices currently, Chin said the Treasury would decide on the matter. — Bernama

http://www.btimes.com.my/Current ... /Article/index_html

Mr.Business

更新: September 14, 2008 18:59

投資者忽略
膠套業者潛力大
（吉隆坡14日訊）我國橡膠手套生產在國際市場獨佔鰲頭，全球市佔率達60%，惟該領域長期被投資者忽略。

僑豐投資研究分析報告說，目前，膠手套領域在2008年7.6倍，及2009年6.5倍本益比（PE）上交易，投資需求偏低。

“全球膠手套需求殷，加上工業安全條例加緊，及世界人口不斷增加，料手套消耗量每年將提高10%或135億隻。”

成本已穩

“再者，膠手套領域不受經濟衰退影響，反潛在無限商機，本益比估值不應停留在低水平，故上調投資評級至‘增持’（overweight）。”

僑豐投資研究推薦投資者，買入全球5大膠手套生產商，即頂級手套（TOPGLOV，7113，主板工業）、高產柅品（KOSSAN，7153，主板工業）、速伯瑪（SUPERMX，7106，主板工業）、穩大（ADVENTA，7191，主板工業）及賀達麗嘉（HARTA，5168，主板工業）。

全球每年消耗1350億隻膠手套，大馬供應其中60%。

“5大生產商（皆大馬公司）過去3年（2004至2007）平均年生產量增加25至30%，預計未來3年，每年將再提高20%。”

僑豐投資研究說，投資者今年初因擔心天然氣價格和電費調高后，將影響膠手套公司的盈利賺幅，紛紛脫售手上股票。

如今，漲價事件告一段落，工業用戶天然氣價格，從每百萬熱值單位（MMBTU）12.80令吉調高至22.06令吉，生產商亦隨之調高產品價格8至10%。

“天然氣價格自今年7月暴跌50%至25.02令吉，相信政府再調漲用戶價格的可能性很低。”

根據大馬膠手套製造商會（MARGMA）數據，大馬出口量佔全球需求60%，北美為最大進口國，佔45%，接著是歐洲（22%）和南美（20%）。

http://www.chinapress.com.my/con ... mp;art=0915bs02.txt

loong81

生意兄手上还有顶级手套的股票？

Mr.Business

一点。。。

u346018

希望TOP GLOVE真的會起死回生。
從RM8.05收到現在。

ThermoFisher

美元走強，乳膠跌價利好　頂級手套前景轉佳

2008年9月18日
　  
（吉隆坡17日訊）隨著美元走強和乳膠價格滑落，令頂級手套（TOPGLOV，7113，主板工業股）的前景轉佳，加上該公司正積極尋求併購機會以提升全球市佔率，分析員因此看好該公司的前景。

乳膠價格自創下每公斤7.20令吉的高水平後，便在過去兩個月開始走緩。目前乳膠價格介於每公斤6至7令吉。由於雨季到來可能影響供應量，因此分析員預測，08年的乳膠會處於6至6.50令吉之間。

對頂級手套而言，乳膠價格的波動不是最大關注要素，因為該公司有能力將70%至80%的新增成本，轉嫁予客戶。不過，若膠價在短期內大幅飆漲，仍對該公司的淨利帶來負面影響，因該公司提前2至3個月銷售產品。因此，低膠價將對該集團有利。

另一項有利因素，則是美元兌令吉匯率逆轉和走高，由於該公司逾95%的手套都供出口，而進口只佔其成本的40%，因此，這意味著該集團以令吉計算的出口價值也跟著上漲。

雖然膠手套領域面對重大挑戰及原料價格波動，該公司仍專注於增加其全球市場佔有率，放眼在2010年杪從目前的24%，增加至35%。除了內部成長，該集團積極物色併購活動，讓該公司擴展其產品種類和客戶群，以便達到有關的目標。

分析員認為，目前充滿挑戰性的營運環境對頂級手套有利，因為這能讓該公司以低價收購較小的業者。

該公司目前正裝置40條新生產線，每年將增加額外的37億5000個手套。除了在大馬擁有13間工廠外，該公司分別在泰國和中國擁有4間和2間工廠。該公司維持不依賴單一客戶而擴展客戶群的政策。該公司在全球擁有850個客戶，沒有一個客戶貢獻超過5%的銷售。

聯昌國際投資銀行分析員將該公司09和10財政年的盈利分別上調6%和4%，並保持「超越大市」的評級，目標價格從5.15令吉，稍微上調至5.20令吉。

scsiang82

面臨艱巨挑戰‧頂級手套擬併購擴大版圖
大馬財經  2008-09-18 14:23


（吉隆坡）儘管橡膠手套業面臨艱巨挑戰及原料成本價格波動不定，但全球最大橡膠手套商頂級手套（TOPGLOV,7113,主板工業產品組）有意在2010年囊括全球35%市佔率的雄心不變，除了自然成長，此集團也有意通過併購計劃擴大業務版圖。

聯昌研究表示，以現有的嚴峻營運環境，對目前操控全球24%市佔率的頂級手套來說，進行併購計劃反而更有利，因可以誘人的估值收購小型的業者，以擴充其產品系列和客戶基礎。

此公司表示接納併購方式作為擴充業務方式，併購的主要條件之一，是收購在某項產品具有特定地位和優勢的工廠或公司，尤其是此公司並沒有生產的產品，以讓此公司可以擴大客戶基礎及滲透其他產品的專長。

根據過去的記錄顯示，此公司在惡劣環境仍然具有韌力，加上可能以低廉價值併購小型公司，以及美元對馬幣匯價的走強，保持“超越大市”的評估。

盈利預測上調

鑒於匯率預測的調整，聯昌也把此公司2009及2010財政年的盈利預測分別上調6%及4%。目前估計1美元兌馬幣匯率在2009和2010財政年分別為3.45及3.30。

聯昌上週率領頂級手套到香港進行一天的巡迴促銷活動，整體上來說，在美元兌馬幣匯率走漲及乳膠價格走軟大前提下，大部份投資者對膠手套業及頂級手套感到振奮。

儘管盈利預測調漲，但聯昌只是把目標價從5令吉15仙上調至5令吉20仙，相信其股價反映行業所有的負面消息，但並沒有考量美元兌馬幣匯價的扭轉以及乳膠價格的回軟。

過去15個月
股價挫50-60%已超賣

頂級手套與其同儕一樣，在過去15個月的股價猛挫50至60%，主要因乳膠價格的波動、馬幣走強及天然氣價格的漲升；其跌幅比綜指同期的25%跌勢更慘重。

聯昌認為，此股已經超賣，因此公司在過去都可以把較高的成本轉移，對需求不會有顯著的負面衝擊。再者，此公司在過去15年也曾面臨多次的低潮困境。

此股週三（9月17日）收市掛4令吉，平盤。

短期乳膠價劇漲衝擊盈利

乳膠價格在過去2個月已開始走緩，目前已從高峰的每公斤7令吉20仙下滑至每公斤6－7令吉，鑒於雨季來臨或影響供應，預計2008年的價格或每公斤介於6令吉至6令吉50仙之間。

乳膠價格的波動對頂級手套並不是巨大的隱憂，因此集團可以把大約70至80%的漲升成本轉嫁給客戶，反而是短期乳膠價格劇漲對集團盈利帶來負面衝擊，因銷售大約2至3個月的期貨，因此，低乳膠價對集團是正面的。

匯率方面，頂級手套是凈出口者，出口佔總銷售95%，進口佔其成本的40%，美元走強對集團帶來裨益，因其出口兌換馬幣價值更高。

美元兌馬幣匯價在過去逾2個月已漲升逾7%，導致聯昌研究把馬幣兌美元匯率的預測下調19至22%，目前估計馬幣兌美元匯率至2008年杪為3.50，2009年杪為3.40，以及2010年杪為3.35。

業務自然成長擴充方面，頂級手套集團積極裝置40條新生產線，產量每年提高37億5000萬件，除了大馬的13間廠，此集團業務已伸展至泰國，共有4間廠以及中國有兩間廠房。

此集團的全球客戶網絡廣泛，共達850名，單一客戶對集團的銷售少過5%。先進國家佔集團總銷售逾60%，也有意提高發展中國家的銷售比重。

末季凈利2600萬可期
全年料凈賺1.1億

頂級手套將在10月份的最後兩週公佈2008財政年末季業績，儘管產量走高，但末季的盈利按季或呆滯，因7月份的乳膠價格創下新高記錄；工業電費在7月上調；以及天然氣價格在8月1日調漲71.4%。

聯昌預計集團2008全年財政年凈利為1億1100萬令吉，這表示末季凈利為2600萬令吉，相信是可期的目標。

此股本益比已從高峰的26倍滑落至現有的7至9倍，鑒於其產品是抗衰退的，這是合理的，而集團3年每股凈利累積平均成長率仍然達16%。

鑒於再投資津貼，集團目前享有優惠稅率，預計未來數年的稅率介於12－15%，表示盈利預測有上調的空間。

聯昌也預計集團在2008至2010財政年維持20－30%的派息率。

星洲日報／財經‧2008.09.18

http://biz.sinchew-i.com/node/16583

Mr.Business

TopGlove已经在RM4的价钱停留很久了，交易量小。密切注意。。。

goodluck88

最近也有发现到。。。
股价一直徘徊RM3.9x ~ RM4.00
会不会是持股的外资已经全数撤退？