Koon Yew Yin 25 Nov 2020
On 23rd Nov Top Glove Corp Bhd has confirmed that it will temporarily shut down 28 factories in Klang, Selangor following an insurgence of Covid-19 cases among its workers.
Top Glove, the world’s largest glove manufacturer, has 41 factories in Malaysia.
Earlier today, Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob announced that a total of 28 Top Glove factories in Klang would cease operations in stages to allow factory workers to undergo screening and mandatory quarantine in an effort to contain the spread of the virus among Top Glove employees.
On 2nd Nov Top Glove Corp Bhd said its annual rubber glove production capacity had reached 90 billion pieces as at October 2020 as the Covid-19 pandemic led to robust demand for its products to curb the spread of the outbreak.
Due to Covid 19 pandemic the demand for medical gloves far exceeds supply and all the glove makers are taking advantage of the supply shortage to increase their selling prices to make more and more profit.
Top Glove’s 28 factories shut down will greatly reduce glove supply. As a result, all the glove makers will take advantage of the situation to further increase their selling prices to make more profit.
All investors should not miss the opportunity to buy glove stocks to make more money from the stock market.
Supermax is making more earning per share (EPS) in every quarter since the pandemic began in March, than any of its peers, namely Top Glove, Kossan, Hartalega, Comfort Glove, Care Plus and Rubberex, etc. as you can see from their price charts.
The reason why Supermax can make more EPS in every quarter than any of its peers is because it has its own brand and sale outlets in many cities in US and in many other countries around the world. Smaller glove makers cannot sell their glove at higher price than Supermax because they have to sell their gloves through agents or middle men.
http://koonyewyin.com/2020/11/25/top-gloves-28-factories-shut-down-should-benefit-other-glove-makers/
