My uncle went in at RM1... now still holding. Parkson RM3, now <RM1.

He also earned when times were good. So still can tahan.

Insas or Inari?

Although Insas still holding substantial amount of Inari shares, I dont think it will be badly reflected.

I also wonder what's so attractive about Malaysia that China will invest here... still thinking.

Guys,

Any recommendations for where to open trading account that wont suspend your account every single year?

Got fed up with HLB. Reactivate my account 2 times liao and now suspend again. I dont trade often but was unable to average down during last month because account was suspended plus was being under quarantine.

Not active. They need one buy/sell per year. This is ridiculous. I have few K inside plus few K in shares. Although I don't trade often, it still sucks.

Unable to trade only. Dividends still get. Interest also get.

Damn lazy to everytime need to go PJ to activate account again. Also wasted an opportunity to average down when they dropped 50% from my buying price and recovered to about 70%.

No other that would offer longer term before being tagged dormant?

Either way I need to move away from HLB. It's just too inconvenient to go to PJ to do this.

Ok... will goto maybank to inquire. Used to have an account with them but thought HLB is more convenient because also used to debit salary.

Sometimes dont understood what they are thinking.

If you said I never login, suspend is okay. I login few times a year, placed some order, not matched. Still suspend my account.

It is kinda crazy to see the PER people are paying for their overpriced gloves stock.

At first I thought ok, consistent dividend but over the past 2-3 years, gloves stocks are moving nowhere. They just kept going up defying common sense. Hartalega will be around 70PER if they reported another 3.x cents for Q4.

We used to provide materials to contractors for the mechanical structures for some of them. They had slowdown quite a lot over the past few years due to over capacity and pricing wars. Even now with the pandemic, I dont think there will be shortages.

For nitrile gloves, the raw materials are bought in USD. Therefore the rise in USD should not affect profit margin.

As for natural rubber gloves, competitions are hot.

Actually there's no more expansion from glove sector. Some like Hartalega and Supermax are just doing what they have been planning for years, completing the big upgrade albeit very slowly. We did supply the parts for first 2 factories in Sepang in 2012 IIRC, then the new boss suddenly changed contractor due to some communication issue with my client. It was even more messy with the new contractor and the change in design was so bad that they couldn't keep factory 3&4 running full time. After tiptoe for a year or two, they went back to my client but damage already done. The change in design was permanent since Hartalega already bought the steel material thus no choice but to opt out. Last I heard they were on the way to complete 5&6 which is final completion for Sepang.

Before this, they were considering to refurbish old lines in old factory but even that was scrapped due to forecast lower demand. Personally I dont see a way how gloves would return to those days. The only expansion that you would see is probably from those smaller sized one like Careplus or VIP gloves.

Gloves are still very profitable no doubt, but why would you pay RM7 for Hartalega (example) when you are only getting less than 10cents back in dividends. Its recession proof but other than that, there's no reason to pay a premium for gloves counter when they are all trading at over 30x PER.

Why not keep Comfort?

Comfort would be like what Hartalega is like 12 years ago. Imagine with only 1-2 factories (10 or so high speed lines per factories), with each expansion, you will boost your output between 50-100%. That is growth.

Hartalega, Top Glove, Kossan, Supermax will not have these fairy tales anymore. Yes, they are more established, guaranteed recession proof but I dont expect surprise with the exception of Top Glove due to their no.1 spot of controlling more than 10% of global gloves output.

Understood. This uncle really hard promote one.

The earnings are not too bad... need to see the financials. However glovemakers are not easy business nowadays. Back then they were given tax break for 10years IIRC plus subsidized natural gas. A lot has changed in the industry.

Glove memang high demand whether or not pandemic. It's just that there's over capacity at this moment. Hence why I would pay attention to newcomers instead. What I would be concerned is the profitability since bigger ones would have more room and war chest to price war.

Like I said smaller ones capacity upgrade would increase output by 50-100% which could make it reasonable to buy slightly more expensive but bigger ones, capacity upgrade would only increase output by 5-10% which wouldn't mean much. Instead these would benefits more from USDMYR fluctuation.

Supermax is too expensive. Bad management, high borrowing (to be honest, it's been a long time since I looked at Supermax financial, therefore I could be wrong). I think uncle is goreng cheaper ones. Supermax was below RM2 IIRC when the rally began. Harta, TG, Kossan maybe too costly and lower returns for him.

Not your problem... it was too frantic just now

No wonder...

I have to say hlebroking is the lousiest to use. I also having problem login from my phone lately.

LoL guys... Careful if using HLEbroking


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