【TOPGLOV 7113 交流专区】顶级手套

财散人聚

原帖由 8years 于 29-10-2007 01:31 PM 发表
也对的，所以决定事实的关键在--〉未来市场会变大还是变小

基于我的看法是手套市场仍然会膨胀。。。。所以事实的关键（我的版本）---是管理层有没有能力保持市场占有率和如何开拓市场

Mr.Business

刚刚在Sin Chew看到这新闻题目 <疑鍋爐油傾瀉引起, 手套廠大火燬500萬>，吓坏我。我还以为这么倒霉，一买进Top Glove, Top Glove就大火，原来是Ruberex。

Ruberex火灾，损失RM5 million，如此生产一定会受影响，其他手套厂不知道会得益吗？

工厂应该有很好的防火措施的，为何这么容易火灾，难道。。。
有Ipoh网友知道详情吗？


疑鍋爐油傾瀉引起
手套廠大火燬500萬
updated:2007-10-29 11:24:19 MYT

（怡保訊）巴占輕工業區一家上市公司Ruberex的手套工廠週日（28日）下午發生火災。

由於火災發生時靠近換班時間，當時輪值上午9時至下午2時工友剛要下班，而接班的工友還未入廠，因而沒有釀成傷亡事件。

怡保消防及拯救局官員蘇菲安指出，火災是在下午1時55分左右發生，消拯局在接到投報後，在13分鐘內抵達現場，展開灌救工作，並成功在3時12分控制火勢，消拯人員直到4時50分才收隊。

蘇菲安透露，該局估計該廠損失約500萬令吉。

他說，據參與灌救工作的同僚報告，共有兩座建築物被火神光顧，即維修部和鍋爐部，所幸都只燒到局部，並未完全燒毀。

他表示，雖然發現鍋爐部地上有油漬，但目前未確定是不是鍋爐的油傾瀉引起火災，消拯人員還在調查起火原因。

另一方面，該公司負責人拒絕發表談話。 （星洲日報&#8226;2007.10.29）

http://www.sinchew.com.my/content.phtml?sec=1&sdate=&artid=200710282391


■手套廠起火，不得其門而入的居民和工友在工廠外張望裡面的情況。

Mr.Business

Ruberex的文告。

Company Name : RUBBEREX CORPORATION (M) BERHAD  
Stock Name  : RUBEREX
Date Announced : 29/10/2007
     
Type : Announcement
Subject : Fire Incident

Contents :
We inform with regret that a fire occurred at a small section of our factory in Kawasan Perindustrian Bercham Ipoh on 28 October 2007. The cause of the fire is still being investigated and the damage and consequential loss are adequately covered by insurance. Fortunately, no physical injury occurred to any personnel in the incident.

As a result of the fire, one of the general purpose and the industrial glove production lines are affected. Remedial action to minimise disruption to our operation has been taken and the management expect production on the affected lines to resume within a month.

This announcement is dated 29 August 2007.

江湖

原帖由 Mr.Business 于 29-10-2007 01:45 PM 发表
刚刚在Sin Chew看到这新闻题目 ，吓坏我。我还以为这么倒霉，一买进Top Glove, Top Glove就大火，原来是Ruberex。

Ruberex火灾，损失RM5 million，如此生产一定会受影响，其他手套厂不知道会得益吗？

工厂 ...

会不会又烧毁一些重要文件？？

财散人聚

原帖由 Mr.Business 于 29-10-2007 01:21 PM 发表
谢谢财散人聚兄，请问去OSK188的哪里找这些资料？

生意兄，只要你有osk188的户口。。。。再加上你有apply网上交易。。。。那么这个database就任你所用。。。。其实。。。。这是osk188的klse.tracker.com的资料。。。。我只是cut and paste而已。。。。顺手而已。。。。不客气。。。。不用谢。。。。

Mr.Business

哦，我是OSK的用户，我想知道按那个按钮一得到这资料 (我找不到。。。)。

Mr.Business

我也是这么想，不然可能也跟保险有关。。。最近我这里有间土产店也是刚好发生火灾。。 。

Mr.Business

喔，刚刚找到了，原来重点是"Database"这个字。。。

财散人聚

原帖由 Mr.Business 于 29-10-2007 02:09 PM 发表
哦，我是OSK的用户，我想知道按那个按钮一得到这资料 (我找不到。。。)。

好的。。。。。你去real price那里。。。先click你要的股。。。。再找上面黄色的button。。。有个button是写着database的。。。。对不对？？你按下去就会显示一个pop up，里头有公司以往的资料。。。。还不错的。。。。你试一试看。。。。。
原本想短讯息你的，不想浪费这里的版位。。。。不过，也想到别人或许也有相同问题，所以就贴上来了。。。。。

财散人聚

原帖由 Mr.Business 于 29-10-2007 02:13 PM 发表
喔，刚刚找到了，原来重点是"Database"这个字。。。

哈哈哈。。。。我比较“钝”，还未给你指示，你就已经找到了。。。。。你真聪明。。

Mr.Business

谢谢财散人聚兄的热心帮助。


那财散人聚兄，我已经大约说明我买进topglove的理由，你有什么看法吗？

[ 本帖最后由 Mr.Business 于 29-10-2007 02:28 PM 编辑 ]

财散人聚

原帖由 Mr.Business 于 29-10-2007 02:21 PM 发表
谢谢财散人聚兄的热心帮助。

不客气。。。。叫我财兄就可以了，都是一句。。。。哈哈哈
看过你对topglove的精辟分享，发现你对你投资的公司是有一定的了解度了。。。。topglove的buyback的确有吸引过我。。。。基于我要更高的肯定度，所以我不会在此刻选择进场（这是很个人的理由）。。。
你的低点论和entry point的支持论也是有理由的。。。。公司会出手干预股价，那么，此举必有其动机存在。。。。若是别的老板，或许我会担忧公司此步伐的有效度。。。。。不过，这是林老板的move，所以我还是对topglove的buyback保持乐观的态度。。。。

Mr.Business

Rubberex最近的业绩不大行。。。
第一季度只赚RM1.077 milliion，第二季度 (30/06/2007)亏RM1.514 milliion，看来很快就会被Top Glove和Supermax打败。。。

PS: 这次火灾如果真的损失RM5 million，对Rubberex会有蛮大的影响。。。

PS: Rubberex的劳工关系做得不是很好。。。


Workers protest unfair labour practice
The Sun , 17 October 2001

IPOH, Tues: About 300 workers of a rubber products company picketed at their factory in Bercham today over what they claim was unfair labour practice.

Employees of Rubberex (M) Sdn Bhd said the management is encouraging foreign workers and victimising local employees.

National Union of Employees in Companies Manufacturing Rubber Products secretary A. Subramaniam said the management rejected a proposed 12% salary adjustment at collective agreement negotiations.

The negotiations started four months ago but ended in a deadlock, he said.

"Later, the management offered a 3% salary increased, before agreeing to 5%.

"This does not equate the profits it makes," he said.

"In the past three years the company made RM95 million in profits."

The form offered to give workers RM10 as recall allowance, but it has not been paid for the past few years, he said.

"The company is willing to give higher starting salaries for foreign workers and still recruiting them.

This amounts to the gross victimising of the locals," Subramaniam said.

He also said the management had threatened to phase out maintenance personnel if they pursued the disputes.

Subramaniam said foreigners were given  an increase of some RM60, based on a starting pay of RM380, with the aim of disrupting the union.

For the past few months there has been no overtime work for local workers, Subramaniam said.

Rubberex assistant human resources manager Norraha Musa said the union has filed a complaint with the Industrial Relations Department.

"We will meet the union on Oct 23, in the presence of the industrial relations officers," Norraha said.

http://www.mohr.gov.my/mygoveg/extras/isuseptoct.htm

[ 本帖最后由 Mr.Business 于 30-10-2007 01:42 PM 编辑 ]

财散人聚

原料的涨价对我来说，并不至于给topglove带来很大的问题。。。。我们回顾2006之间，topglov在泰国latex厂的全面收购案件吧。。。。那时候，橡胶价还未到了现在的“天价”吧。。。。但是，在那个时候，林老板就大举买下了泰国的latex厂作为其原料的供应点。。。。且不说这到底是不是巧合或机缘。。。。。这个步骤的确在这个时候带来正面的效应。。。。要是身为最大的手套公司，却无法在cost control做到好的防范措施。。。。那么那间公司恐怕在这个时候，就面临原料供应，原料涨价危机了。。。。
再说，若原料真的再涨。。。。。那么，其它规模较小的公司若无法解决原料问题，那么它们看来也难逃厄运咯。。。。。 。。。。。那时候，topglove不是更加的强势了吗？？

[ 本帖最后由 财散人聚 于 29-10-2007 03:03 PM 编辑 ]

Mr.Business

其实Top Glove只是买了latex工厂，橡胶园正准备买。。。

"若原料真的涨个不停。。。。。那么，其它规模较小的公司看来也难逃厄运咯。。。。。  。。。。。那时候，topglove不是更加的强势了？？"

我很同意财兄这句话，看看Rubberex就知道了。。。

财散人聚

原帖由 Mr.Business 于 29-10-2007 02:56 PM 发表
其实Top Glove只是买了latex工厂，橡胶园正准备买。。。

"若原料真的涨个不停。。。。。那么，其它规模较小的公司看来也难逃厄运咯。。。。。  。。。。。那时候，topglove不是更加的强势了？？"

我很 ...

哈哈哈。。。。我资料改了。。。免得误人误己。。。。。
那间latex厂叫B-Tech。。。。这个不会错的。。。。我从我的announcement收集册里确定的。。。。哈哈哈

财散人聚

原帖由 Mr.Business 于 29-10-2007 02:56 PM 发表
其实Top Glove只是买了latex工厂，橡胶园正准备买。。。

"若原料真的涨个不停。。。。。那么，其它规模较小的公司看来也难逃厄运咯。。。。。  。。。。。那时候，topglove不是更加的强势了？？"

我很 ...

还有一间latex厂应该是HADSYN LATEX SDN BHD吧。。。。哈哈哈。。。。只知道在2002年时topglove 和HADSYN LATEX SDN BHD和zhangjianggang有个joint venture。。。。还要再挖深一点才知道。。。。。

8years

有一些事我们必需清楚，
当小和坏的做不起，大和好的通常就在巩固。
当小和坏的做得起，大和好的通常就在飞天。

可以看出手套行业现在非常难做，topglove在这么艰难时期还有好的表现非常不错。
不过行业现在依然非常难做，还没有到低点，所以topglove的股价依然过高。
rubberex火灾搞不好是因为inventory太多卖不出，就claim保险咯

Mr.Business

原帖由 财散人聚 于 29-10-2007 03:12 PM 发表
还有一间latex厂应该是HADSYN LATEX SDN BHD吧。。。。哈哈哈。。。。只知道在2002年时topglove 和HADSYN LATEX SDN BHD和zhangjianggang有个joint venture。。。。还要再挖深一点才知道。。。。。

Company Name : TOP GLOVE CORPORATION BHD  
Stock Name  : TOPGLOV
Date Announced : 20/08/2004
   
Type : Announcement
Subject : Acquisition by Top Glove Sdn Bhd ("TGSB"), a wholly-owned subsidiary of TGCB of the remaining 45% interest in Top Glove (Zhangjiagang) Co Ltd ("TGZCL") consisting: -
a) 30% interest in TGZCL from Zhangjiagang Medical Glove Co ("ZMC") for a total cash consideration of USD1.26 million (approximately RM4.79 million) ("Proposed 30% Acquisition"); and
b) 15% interest in TGZCL from Hadsyn Latex Co Ltd ("HLC") for a total cash consideration of USD0.63 million (approximately RM2.39 million) ('Proposed 15% Acquisition")
(Collectively to be defined as "Proposed Acquisitions")

Contents :
1. Introduction
The Board of Directors of TGCB wishes to announce that TGSB has on 20 August 2004 entered into two separate conditional sale and purchase agreements ("SPAs") with ZMC and HLC respectively to acquire an additional 30% and 15% interest in TGZCL for a total cash consideration of USD1.26 million and USD0.63 million respectively.


2. Information on TGZCL
TGZCL was incorporated in the Peoples’ Republic of China ("PRC") on 8 May 2002. The company’s paid in capital as at 30 June 2004 was USD3.0 million (approximately RM11.4 million). TGZCL current shareholders are TGSB with 55% interest followed by ZMC and HLC with the remaining 30% and 15% interest respectively.

Based on the audited account of TGZCL for the financial year ended 31 August 2003, being the latest audited accounts, TGZCL’s Net Tangible Assets ("NTA") was Rmb23.7 million or approximately RM11.8 million. For the financial year ended 31 August 2003, the company registered a net loss of Rmb1.1 million or approximately RM0.6 million.

Both ZMC and HLC were shareholders of TGZCL since its incorporation in 8 May 2002 and their cost of investment in TGZCL are USD0.90 million and USD0.45 million respectively.

The principal activity of TGZCL is the manufacture of gloves.
  

3. Information on HLC
HLC was incorporated on 1 October 1998 in Thailand as a private limited company. The company is principally involved in concentrated latex processing, skim block latex processing and trading of field latex as well as other natural rubber products. The present registered, issued and paid up share capital stands at 100 million Bahts comprising of 10,000 Bahts each.

Mr Lim Kwee Fatt, who is the brother of Dato’ Dr Lim Wee Chai (the Managing Director and substantial shareholder of TGCB), holds 62% of the equity interest in HLC. Mr Lim Kwee Fatt is also one of the directors of HLC.


4. Information on ZMC
ZMC was established on 19 October 1998 in Zhangjiagang, PRC. The current authorized and paid up capital of the company is Rmb7.2 million comprising shares of Rmb1.00 each. ZMC specializes in the production of disposable PVC gloves for the export market.


5. Details of the Proposed Acquisitions
5.1 The total purchase consideration of USD1.89 million (approximately RM7.18 million) for the 45% interest in TGZCL was arrived at based on a "willing buyer and willing seller" basis.

5.2 The shares shall be acquired by TGSB from both ZMC and HLC free from all liens, charges or encumbrances and with all rights attached thereto. No liabilities will be assumed by TGSB.

5.3 The purchase consideration of USD1.89 million is to be satisfied in four equal monthly installments after the date of signing of the SPAs.


6. Rationale for the Proposed Acquisitions
The purchase consideration is deemed relatively undemanding at this point in time taking into consideration the current operation of TGZCL, which has been consistent and steady. Going forward with the smooth operations of the existing glove production lines and the potential increase in new glove production lines coupled with the group’s expertise in the management of glove production, the growth prospect is very promising.

The operations of TGZCL focuses on the production of synthetic gloves and the Proposed Acquisitions would complement and is expected to further strengthen Top Glove’s globalisation efforts as a "One stop glove sourcing center". The Proposed Acquisitions will further enhance TGSB control over the operations and management of TGZCL, thus, ensuring better cost control, quality and service provided to its valued customers.


7. Sources of fund
The funding requirement of the Proposed Acquisitions will be provided via external borrowing and/or by internally generated fund.


8. Effects of the Proposed Acquisitions
There will be no change to the share capital and shareholding of substantial shareholders of TGCB, as the Proposed Acquisitions does no involve the issuance of new TGCB shares.

Based on the assumption that the Proposed Acquisitions are completed by November 2004, the Proposed Acquisitions are not expected to have any material effect on the earnings of the group for financial years ending 31 August 2004 and 31 August 2005. On a performa basis, the Proposed Acquisition is not expected to have any material impact on the NTA of the group based on the audited balance sheet as at 31 August 2003.


9. Prospects and risk factors of the Proposed Acquisitions
The Proposed Acquisitions are intended to further strengthen the asset and income base of TGSB through better equity presence and control. Nevertheless, the Proposed Acquisitions are subject to risks inherent to foreign investment, including, inter alia, foreign regulation and foreign exchange fluctuations. The management will endeavour to mitigate the risk through proactive steps, for example, with the appropriate hedging tools and to closely monitor government regulation and legislature.


10. Directors’ interest
None of the Directors of the Company has any interest, direct or indirect, in the Proposed 30% Acquisition.

However, the following Directors do not consider themselves independent in respect of the Proposed 15% Acquisition by virtue of the following:
1) Dato’ Dr Lim Wee Chai is the Managing Director and is a major shareholder of the Company.
2) Tong Siew Bee, is the Executive Director and wife of Dato’ Dr Lim Wee Chai. Tong Siew Bee is therefore a person connected to Dato’ Dr Lim Wee Chai.
3) Haji Shahadan Bin Haji Abd Manas is an employee of the TGCB group in which Dato’ Dr Lim Wee Chai is a major shareholder. Haji Shahadan Bin Haji Abd Manas is therefore a person connected to Dato’ Dr Lim Wee Chai.
4) Lim Hooi Sin is an employee of the TGCB group and the brother to Dato’ Dr Lim Wee Chai. Lim Hooi Sin is therefore a person connected to Dato’ Dr Lim Wee Chai.
5) Lee Kim Meow is an employee of the TGCB group in which Dato’ Dr Lim Wee Chai is a major shareholder. Lee Kim Meow is therefore a person connected to Dato’ Dr Lim Wee Chai.

Saved as disclosed above, none of the other Directors of TGCB have any interest, direct or indirect, in the Propose 15% Acquisition.


11. Approvals required for the Proposed Acquisitions
No approval from the shareholders of the Company is required for the Proposed Acquisitions.

Bank Negara Malaysia’s approval for the foreign investment had been obtained on 28 July 2004 and 16 August 2004.


12. Statement by the Board of Directors

The Board of Directors is of the opinion that the Proposed Acquisitions are in the best interest of the Company and its shareholders.


13. Estimated time frame for completion of the Proposed Acquisitions

The Proposed Acquisitions are estimated to be completed within three months from the date of the SPAs.


14. Document for inspection

Copies of the SPAs relating to the Proposed Acquisitions are available for inspection at the registered office of the Company at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur, during normal business hours from Monday to Friday (except public holidays) for a period of two (2) weeks commencing from the date of this announcement.

8years

还有一个很严重的问题：
topglove一直以来都有提高生产量，那么为什么sales turn over没有增加呢？？

会不会。。。。。。。。
生产量 x 价格=turnover A
变高的生产量 x 变低的价格=turnover A

自己看着办吧，我不想做另外一个titan。