【TOPGLOV 7113 交流专区】顶级手套

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	A)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd:(i)        Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-29-06/2018 ("the KL OS"); and (ii)        High Court of the Republic of Singapore, Suit No.: HC/OS 792/2018 ("the Singapore OS").B)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd:  (i)        Kuala Lumpur High Court, Civil Suit No.: WA-22NCC-255-06/2018 ("the Writ Action").
Top Glove Corporation Berhad (“Top Glove” or “the Company”) wishes to announce that the Company and its wholly-owned subsidiary, Top Care Sdn Bhd (“Top Care”) have taken legal proceedings against Adventa Capital Pte Ltd (“Adventa Capital) vide the KL OS and the Singapore OS, as well as Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd (“ACPL”) vide the Writ Action on 29.6.2018 and 2.7.2018. Please refer to the attachment below for the details of the announcement. This announcement is dated 6 July 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5848069

Attachments Material Litigation Announcement.pdf

Tony-Pua

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Clarification Statement: A)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd:(i)        Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-29-06/2018 ("the KL OS"); and (ii)        High Court of the Republic of Singapore, Suit No.: HC/OS 792/2018 ("the Singapore OS").B)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd:  (i)        Kuala Lumpur High Court, Civil Suit No.: WA-22NCC-255-06/2018 ("the Writ Action")
Top Glove Corporation Bhd (“Top Glove”) wishes to provide clarification on legal proceedings taken in relation to the Announcement made on 6 July 2018. After the completion of the SPA on 4.4.2018, Top Glove took over Aspion shortly thereafter and discovered irregularities in certain balance sheet items of Aspion, in particular, inventories, and plant and machinery. Upon such discovery, Top Glove conducted its own investigations and appointed an independent accounting firm to investigate the irregularities in Aspion’s accounts as well as the possible overstatement of the acquisition price for Aspion. From the interim report given by the independent accounting firm, there is currently an overstatement of inventory, plant and machinery in Aspion’s accounts amounting to RM74.4 million (“Overstatement of Assets”). Further, the interim report also states that the acquisition price of Aspion was overstated by RM640.5 million (“Overvaluation”). Therefore, the claim amount of RM714.9 million in the legal proceedings consists of the Overstatement of Assets and the Overvaluation. The litigation will not impact Aspion’s business operations, which will continue as usual.  Meanwhile, the Group’s business operations remain resilient and scalable, with a healthy cashflow.  Top Glove also performed well in 3QFY18.  On a 9-month basis, the Group attained Sales Revenue of RM3 billion and its Profit After Tax of RM335.3 million surpassed full year Profit After Tax for FY17. Top Glove remains upbeat in terms of outlook.  With the combined capabilities of Aspion, the Group is confident of continued growth going forward.   It recognises there will always be challenges in business and is focused on taking immediate steps to address the issues.  Top Glove will continue to uphold its Business Ethics of honesty, integrity and transparency and believes that as it continues to do the right thing and pursue its business priorities, it will be able to overcome these challenges and stay on course towards achieving its business goals.

icy97

ype	Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID	IQL-09072018-00001
Subject	(1) Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd: Kuala Lumpur OS and Singapore OS; and(2) Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd: Writ Action
Description	Top Glove Corporation Bhd ("the Company")Reply to Bursa Malaysia Securities Berhad's letter dated 9 July 2018
Query Letter Contents	We refer to your Company’s announcement dated 6 July 2018 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:- (a)   The details of the default or circumstances leading to the filing of the arbitration at the Singapore International Arbitration Centre (“SIAC Arbitration”), KL OS, Singapore OS and Writ Action. (b)   The date(s) of the filing of the SIAC Arbitration. (c)   The date(s) of the presentation of the KL OS, Singapore OS and Writ Action respectively, and the date(s) the KL OS, Singapore OS and Writ Action were served on the respondents. (d)   To clarify further the injunction on ACPL up to the value of RM72.3 million. (e)   The particulars of the claim under the SIAC Arbitration, including the amount claimed for and the interest rate, if applicable. (f)    If relevant, particulars of the interest rate(s) relating to the amount claimed under the KL OS, Singapore OS and Writ Action. (g)   The hearing date(s) of the SIAC Arbitration and inter-parte hearing of the Mareva Application at the Singapore High Court (if applicable). (h)   The effects of the above proceedings on the acquisition of Aspion Sdn Bhd (including the Finessis Incentive). (i)    The effects of the above proceedings on the proposed bonus issue on the basis of 1 bonus share for every 1 existing ordinary share held and the proposed issuance of guaranteed exchangeable bonds with an aggregate principal amount of up to USD300 million.
We refer to the Company's announcements made on 6 July 2018 and 9 July 2018 and Bursa Malaysia Securities Berhad's query letter dated 9 July 2018 requesting the furnishing of additional information related to the Legal Proceedings. The details of the additional information are set out in the attachment below. This announcement is dated 10 July 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5850693

Attachments Reply to Bursa Letter.pdf

icy97

icy97

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Update:A)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd:(i)        Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-29-06/2018 ("the KL OS"); and (ii)        High Court of the Republic of Singapore, Suit No.: HC/OS 792/2018 ("the Singapore OS").B)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd:  (i)        Kuala Lumpur High Court, Civil Suit No.: WA-22NCC-255-06/2018 ("the Writ Action")
We refer to the announcements dated 6 July 2018 and 9 July 2018 in relation to the legal proceedings (“Announcements”) and the reply to queries from Bursa Securities on 10 July 2018. Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements. The Company wishes to announce that the ex-parte Mareva Order granted by the High Court on 2.7.2018 against Wong Chin Toh, Low Chin Guan and ACPL in the Writ Action as well as the ex-parte Mareva Order granted by the High Court on 2.7.2018 against Adventa Capital have been set aside by the High Court today. The inter partes hearing for both applications are now fixed on 19.7.2018. This announcement is dated 11 July 2018.

Weida

TopGlovp买贵七亿有可能会影响未来盈利和成长同时每个月还银行利息已经够力了！这场公司该公司肯定输定因为控方律师为了赚钱必定跟佬板讲有的打！

Weida

表面上买贵七亿实质该公司有可能跟对方公司捞股东游水一批还不知晓！

Weida

TopGlov买贵七亿未来盈利不受看好！

icy97

Weida

TopGlov 买贵七亿直接冲击未来盈利额有可能购买公司根本没有带来任何盈利成长！

icy97

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Update(s):A)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd:(i)        Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-29-06/2018 ("the KL OS"); and (ii)        High Court of the Republic of Singapore, Suit No.: HC/OS 792/2018 ("the Singapore OS").B)        Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd:  (i)        Kuala Lumpur High Court, Civil Suit No.: WA-22NCC-255-06/2018 ("the Writ Action").
We refer to the announcements dated 6, 9, 11, 19 and 24 July 2018 in relation to the legal proceedings (“Announcements”) and the reply to queries from Bursa Securities on 10 July 2018. Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements. The Company wishes to announce that Top Glove and Top Care’s Mareva application against Wong Chin Toh, Low Chin Guan and ACPL in the Writ Action as well as against Adventa Capital in the KL OS in aid of the Singapore arbitration proceedings were not allowed by the High Court. The Company will be appealing the High Court’s decision.   Top Glove and Top Care’s proceedings against Wong Chin Toh, Low Chin Guan and ACPL in the Writ Action, as well as the Singapore arbitration proceedings against Adventa Capital are on-going. The Singapore Mareva Injunction remains in force and the hearing of Adventa Capital’s application to set aside will be heard on 23 August 2018. This announcement is dated 30 July 2018.

Weida

该公司有可能串謀诈骗股东钱！

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Update(s):A) Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd:(i)Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-29-06/2018 ("the KL OS") (ii)High Court of the Republic of Singapore, Suit No.: HC/OS 792/2018 ("the Singapore OS")(iii)Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-32-08/2018 (the KL OS2")B)Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd ("the Writ Action")
We refer to the announcements dated 6, 9, 11, 19, 24 and 30 July 2018 in relation to the legal proceedings (“Announcements”) and the reply to queries from Bursa Securities on 10 July 2018. Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements. The Company wishes to announce that on 13.8.2018, (i) the Company has filed a fresh Mareva application in the Writ Action to restrain Low Chin Guan, Wong Chin Toh and ACPL up to the value of RM640,470,000.00. (ii) the Company has filed an application to join Kwek Siew Leng as the 4th defendant in the Writ Action. (iii) the Company has filed a fresh application Originating Summons vide Civil Suit No.: WA-24NCC(ARB)-32-08/2018 to restrain Adventa Capital up to a value of RM640,470,000.00. The Court had fixed for both the fresh Mareva application in the Writ Action and the fresh Originating Summons to be heard on 20 September 2018. The Court had also struck out the KL OS with no order as to costs. This announcement is dated 15 August 2018.

icy97

Type	Announcement
Subject	OTHERS
Description	TOP GLOVE CORPORATION BERHAD ("TOP GLOVE" OR "THE COMPANY")REQUISITION PURSUANT TO SECTION 311(3)(a) OF THE COMPANIES ACT 2016 ("THE ACT") TO CONVENE AN EXTRAORDINARY GENERAL MEETING ("EGM") IN RELATION TO THE PROPOSED ORDINARY RESOLUTION BY SPECIAL NOTICE FOR REMOVAL OF DIRECTOR PURSUANT TO SECTIONS 206(1)(b), 311(3)(a) AND 322 OF THE ACT
Top Glove wishes to announce that the Company had on 27 August 2018 received a written requisition to convene an Extraordinary General Meeting pursuant to Section 311(3)(a) of the Act in relation to the intention to remove a director by Special Notice from a shareholder of the Company with a shareholding of more than ten per centum of the paid up capital of the Company carrying the right of voting at meetings of members of the Company, excluding any paid up capital held as treasury shares, as at the date of deposit of the said written requisition. A copy of the said written requisition is attached herewith. This announcement is dated 27 August 2018.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5895045

Attachments TGCB_Notice of Requisition.pdf

icy97

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Update(s):A)Top Glove Corporation Bhd and Top Care Sdn Bhd against Adventa Capital Pte Ltd:(i)High Court of the Republic of Singapore, Suit No.: HC/OS 792/2018 ("the Singapore OS")(ii)Kuala Lumpur High Court, Originating Summons No.: WA-24NCC(ARB)-32-08/2018 ("the KL OS2")B)Top Glove Corporation Bhd and Top Care Sdn Bhd against Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd ("the Writ Action")
We refer to all the announcements made earlier and the latest dated 24 August 2018 in relation to the legal proceedings (“Announcements”). Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements. The Company wishes to announce that the interim Mareva injunction against Low Chin Guan, Wong Chin Toh for RM640,470,000 and ACPL for RM72,300,000 in the Writ Action, and against Adventa Capital RM640,470,000 in the KL OS2, pending disposal of the fresh Mareva application and the KL OS2 respectively was allowed by the High Court. These orders will subsist pending the disposal of the fresh Mareva application and the KL OS2.   This announcement is dated 28 August 2018.

icy97

icy97

末季庞大拨备拖累盈利　顶级手套股价料膝跳反射

財经 最后更新 2018年09月7日 21时38分
（吉隆坡7日讯）儘管顶级手套（TOPGLOV，7113，主板工业股）的股价已从7月份的谷底反弹了20%，但是考虑到2018財政年末季（截至8月31日止）盈利將被庞大的拨备拖累，所以分析员认为，该股届时或会出现「膝跳反射」（knee jerk reaction）。

顶级手套预计于10月19日公佈2018財政年末季业绩，马银行投行分析员认为，在强劲销售、稳定赚幅及Aspion做出全季盈利贡献的推动下，该公司核心净利將高于第3季的1亿1800万令吉。

同时，该公司的1送1红股计划也预计在10月份完成。

无论如何，马银行投行分析员表示，顶级手套因「买贵」Aspion公司，在2018財政年末季可能须做出6亿4000万令吉的拨备，这预计將衝击其末季盈利。

分析员称，顶级手套向Aspion公司前董事索偿的官司仍在进行中，这將会是一场漫长的诉讼案。

短期盈利正面

该分析员维持顶级手套「守住」投资评级，以及9.90令吉的目標价。顶级手套目前的股价已经比该目標价高，该股今天以10.84令吉收市，全天挫跌12仙或1.10%，成交量达331万2800股，是全场下跌榜第11名。

不过，分析员以3项利好，正面看待顶级手套的短期盈利表现，即：第一，该公司將是令吉走弱的受益者，目前令吉兑美元匯率为4.15（2018財政年末季平均匯率为4.05）；第二，天然胶乳价格下跌，现为每公斤4.05令吉（2018財政年末季平均价格为4.20令吉）；第三，胶乳轻质丁手套（NBR）价格稳守在每公斤1.34令吉（2018財政年末季平均价格为1.33令吉）。

值得一提的是，大马本地对胶手套仍维持强稳需求。而美国对中国执行10-25%的进口关税政策，也促使本地手套业者受惠，预计来自美国的需求会有所提升。今年首季，大马及中国分別供应美国68%及10%的胶手套。

该分析员称，他对顶级手套做出的2018至2020財政年盈利预测，是假设令吉兑美元匯率为3.95。因此，据分析员敏感度分析，若匯率每变动1%，顶级手套的每股盈利预测將隨之变动4%。【东方网财经】

icy97

强美元　原料跌价　顶级末季盈利仍看好

財经 最后更新 2018年10月3日 21时56分
（吉隆坡3日讯）儘管买贵Aspion公司导致一次性减值拨备，顶级手套（TOPGLOV，7113，主板保健股）末季盈利相信仍会有成长，分析员预计核心盈利將达1亿3000万，至1亿4000万令吉，按年起61-74%，而营业额预期可达12亿令吉。

大华继显看好顶级手套末季盈利表现，主要是因为这期间原料价格走低；同时，美元走强；而该公司的F31工厂新增30条生產线所致。

分析员也將2019至2020財政年的盈利预测，上调介于4到6%，2018財政年的盈利预测则保持不变。无论如何，分析员认为，顶级手套股价仍有过高之嫌，因此，维持「卖出」评级，但將目標价提高至8.20令吉。

在7月份至8月份期间，天然胶乳平均价疲软，按年及按季分別下挫了19%及5%，至每公斤4.38令吉。胶乳佔总生產原料的50%。

分析员估算出，当原料成本跌1%，该公司盈利將上扬3%，反之亦然。

来到2018年末季，分析员预料胶乳价格將走高至4.50令吉至5令吉。

因中国青岛（当地轮胎生產原料供应主要来源）的胶乳库存已下跌8%，因此，预期会有一些补货行动。

另一方面，虽然令吉兑美元近期持续走贬，但尚未到达2017年创下4.50对1美元的低水平，近期则维持在4.14的水平（按年跌6.6%，按季涨3%）。

分析员是按照4.18兑美元的平均匯率，来计算顶级手套未来1至2年的財测，之前的平均匯率假设为4.08兑1美元。

根据分析员的计算，当令吉贬值1%，顶级手套的盈利成长7%。

需求减弱未来挑战

值得注意的是，管理层表示，订单的出货时限为40至45天，比2017年12月的50至60天更短，这意味著市场对手套的需求开始减弱，料是未来的挑战。

分析员对此感到担忧，主要归因于业內的丁（Nitrile）手套產能，中短期產將持续提升，竞爭日益剧烈。

加上，隨著中国乙烯基（vinyl）手套恢復生產，该手套供应不足情况已缓解。

因此，对价格敏感的饮食业者会重新採用价格更实惠的乙烯基手套。

至于顶级手套与Aspion公司的索偿官司，分析员预见这会是一场漫长的诉讼案，下一次的聆审落在10月29日。

近期，顶级手套获得法庭颁发的临时资產冻结令，以禁止Aspion的掌舵人脱售或转移资產。【东方网财经】