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[公司专区] 7153 KOSSAN 高产尼品

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发表于 2012-8-9 09:51 | 显示全部楼层

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发表于 2012-8-9 10:46 | 显示全部楼层
CIMB Research expresses reservation over Kossan Rubber’s upstream plan

PETALING JAYA: Kossan Rubber Industries Bhd’s plans to go upstream by acquiring greenfield rubber plantations have gotten the thumbs down from CIMB Research.

“We view Kossan’s plans negatively although they did not come as a total surprise as management had hinted at landbank acquisitions previously.

“We believe glovemakers should focus on manufacturing, distribution and brand development, not the management of plantation estates. Also, the use of derivative instruments would be a less capital-intensive method to hedge costs,” it said in a client note.

Using Top Glove Corp Bhd as a benchmark, the brokerage explained that Kossan might have to spend some RM7mil to buy land and a further RM130mil over eight years to develop it, which worked out to RM16mil per annum or RM13,000 per ha.

CIMB Research added that any impact from the proposed land purchase would be felt only after eight years as the trees start to yield in the eighth year after plantation.

Kossan managing director Datuk Lim Kuang Sia told a local daily yesterday that it was on the lookout for 10,000ha of plantation land either in Indonesia or Myanmar.

He said this would serve as a natural hedge against the volatility of rubber prices and provide sufficient supply in the event of a shortage.

Top Glove, the world’s biggest glovemaker, made a similar move in June when it bought 30,000ha of greenfield plantation land in Indonesia.

It had signed a share purchase agreement for a 95% stake in PT Agro Pratama Sejahtera, which has a 60-year licence to operate a rubber forest plantation on two islands east of Palembang city, costing RM22mil.

According to CIMB Research, Top Glove expects to pour in RM400mil over eight years to clear and fully cultivate its estate.

Other analysts are more sanguine on Kossan’s proposed foray into plantations, with several agreeing it was an effective way to counter the unanticipated and negative price shocks that are typical of commodities.

Alliance Research analyst Ian Wan said the choice to go upstream was preferable as “you can’t perfectly hedge your position with futures”, adding the benefits would be reaped in the longer-term.

An analyst from RHB Research Institute said that the current declining price of rubber would open the door to cheaper land acquisition opportunities, while Kossan’s burgeoning demand for rubber from its technical rubber products division would strengthen and secure future supply from the plantation.

“The key is the price of the land and development cost, all of which have yet to be determined,” an industry observer pointed out.

As at end-March, Kossan had cash and bank balances of RM44.16mil versus short-term and bank loan borrowings of RM107.89mil.

Rubber has slumped to its lowest in three years on slower demand amidst a shuddering global economy, Bloomberg reported. Futures contracts have sunk 17% for the year.

Kossan closed one sen lower to RM3.12, with 245,000 shares traded.

http://biz.thestar.com.my/news/s ... 48&sec=business

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发表于 2012-8-9 15:59 | 显示全部楼层
高產柅品 擴張上游業務
企業財經08/08/2012 23:00

 (吉隆坡8日訊)國內手套公司高產柅品(KOSSAN,7153,主要板工業)將優先考慮棕油上游業務,擴張至橡膠種植園,以控制乳膠價格的風險走動。

 該公司內部極度重視擴張橡膠種植園的計劃,目前在尋找1萬公頃的橡膠種植園土地。

 該公司董事經理兼總執行長林寬城透過文告說:“不管是印尼或緬甸的橡膠種植園,我們都非常有興趣。”

 他說,該公司一直努力提高生產能力,目前是個對的時機深入研究公司風險及原料價格供應的管理。

 “擴張業務至橡膠種植園確保我們有充足供應,並不會有供應短缺情況發生。”

 頂級手套(TOPGLOV,7113,主要板工業)上月在印尼,收購3萬公頃的綠地橡膠種植園后,高產柅品也決定跟隨其腳步,發展橡膠種植園業務。

 林寬城指出,擴張上游業務擁有一定風險,因為它涉及真正的實物資產。

 “當中,可能會影響一些基金投資或股票相關的金融衍生品等。”

http://www.chinapress.com.my/node/343399

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发表于 2012-8-17 07:54 | 显示全部楼层
Kossan is brewing and guess people are collecting... low latex price on last quarter will be reveal on coming quarter result

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发表于 2012-8-24 09:04 | 显示全部楼层
Quarterly rpt on consolidated results for the financial period ended 30/6/2012
KOSSAN RUBBER INDUSTRIES BERHAD
23/08/2012 06:22:06 PM

Financial Year End31/12/2012
Quarter2
Quarterly report for the financial period ended30/06/2012
The figureshave not been audited
Attachments

KRI2Q2012(BS and PL).pdf
76 KB

NOTES2QTR2012.pdf
87 KB


  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION
30/06/2012
[tr][/tr]
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/06/2012
30/06/2011
30/06/2012
30/06/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
304,753
275,610
594,187
532,056
2Profit/(loss) before tax
31,097
26,648
59,730
54,552
3Profit/(loss) for the period
24,059
21,298
46,517
44,677
4Profit/(loss) attributable to ordinary equity holders of the parent
23,621
20,938
45,575
43,892
5Basic earnings/(loss) per share (Subunit)
7.39
6.55
14.25
13.73
6Proposed/Declared dividend per share (Subunit)
0.00
0.00
0.00
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.6800
1.5400
Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence

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发表于 2012-8-24 09:21 | 显示全部楼层
any idea why kossan tax expensure relatively high compare to other peer ..

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发表于 2012-8-28 09:12 | 显示全部楼层
高产尼品工业 胶价利好未显现
股市 行家论股  2012-08-27 22:00


目标价:3.75令吉

最新进展
由于售量走高、乳胶价格下滑,加上美元兑令吉走强,高产尼品工业(Kossan,7153,主板工业产品股)次季净利达2400万令吉,按季涨8%,按年涨13%。
累积上半年净利达4600万令吉,按年涨4%,符合预期。乳胶手套和丁腈手套销售数量比例为53:47。达12亿5000万只丁腈手套产能正试跑,预计今年9月全面投产。
公司有意在今年11月开始7亿只手术手套产能。

行家建议
由于投入成本下降,加上新产能的贡献,我们预测2012财年下半年表现会更好。虽然泰国政府自2012年5月开始扶持(向农夫收购8万吨橡胶板),然而,乳胶价格依然持续下滑至每公斤5.50令吉,按年下挫36%。泰国政府预计会再耗资4亿7600万美元收购橡胶板,但我们认为,乳胶价格仍会因全球需求走低,橡胶产量上涨而持续走弱。
我们认为,乳胶价格疲弱的利好影响仍未真正显现,高产尼品工业股价表现平平,因此维持预估、评级和目标价。业股价表现平平,因此维持预估、评级和目标价。

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发表于 2012-11-15 11:55 | 显示全部楼层
最近有点反弹,手套股好像有周期性

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发表于 2012-11-23 02:10 | 显示全部楼层
Quarter result just out and seem great, any1 help to post the quarter result as I'm using phone, hard to paste. In my observation, kossan is better bargain than topglove or hartalega. I wonder y kossan is not famous, any 大大can give comment here?

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发表于 2012-11-23 02:11 | 显示全部楼层
Quarter result just out and seem great, any1 help to post the quarter result as I'm using phone, hard to paste. In my observation, kossan is better bargain than topglove or hartalega. I wonder y kossan is not famous, any 大大can give comment here?

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发表于 2012-11-23 09:30 | 显示全部楼层
Quarterly rpt on consolidated results for the financial period ended 30/9/2012
KOSSAN RUBBER INDUSTRIES BERHAD

Financial Year End31/12/2012
Quarter3
Quarterly report for the financial period ended30/09/2012
The figureshave not been audited
Attachments

KRI3Q2012(BS and PL).pdf
76 KB

NOTES3QTR2012.pdf
51 KB


  • Default Currency
  • Other Currency

Currency: Malaysian Ringgit (MYR)
SUMMARY OF KEY FINANCIAL INFORMATION
30/09/2012
[tr][/tr]
INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR
CORRESPONDING
QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR
CORRESPONDING
PERIOD
30/09/2012
30/09/2011
30/09/2012
30/09/2011
$$'000
$$'000
$$'000
$$'000
1Revenue
322,730
278,531
916,917
810,587
2Profit/(loss) before tax
40,013
31,123
99,743
85,676
3Profit/(loss) for the period
30,029
24,006
76,546
68,684
4Profit/(loss) attributable to ordinary equity holders of the parent
29,221
23,643
74,795
67,536
5Basic earnings/(loss) per share (Subunit)
9.14
7.39
23.39
21.12
6Proposed/Declared dividend per share (Subunit)
0.05
0.00
0.05
0.00


AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net assets per share attributable to ordinary equity holders of the parent ($$)
1.7300
1.5400
Definition of Subunit:
In a currency system, there is usually a main unit (base) and subunit that is a fraction amount of the main unit.
Example for the subunit as follows:

CountryBase UnitSubunit
MalaysiaRinggitSen
United StatesDollarCent
United KingdomPoundPence





Announcement Info
Company NameKOSSAN RUBBER INDUSTRIES BERHAD  
Stock Name KOSSAN   
Date Announced22 Nov 2012
CategoryFinancial Results
Reference NoKR-121122-53139

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发表于 2012-11-24 16:43 | 显示全部楼层
多项利好因素支撑 高产尼品料获重估
November 24, 2012
国内财经

(吉隆坡23日讯)券商表示,高产尼品(Kossan,7153,工业产品组)的最新业绩符合市场预期,并相信更高的胶手套需求以及其在技术橡胶产品(technical rubber product,TRP)领域的更大市占率等利好因素,或可使该股获得分析员重估。

联昌研究分析员杨勇俊(译音)在今日发表的报告中表示,高产尼品今年首九个月核心每股盈利分别占该行及大市所预测的71%和69%。

高产尼品的业绩表现有所改善。该公司在截至今年9月30日止的第三季中,取得2千922万1千令吉的净利,较去年同期的2千364万3千令吉增加23.6%,因受更高的营业额,较低的原料及财务成本所提振。其营业额则从去年同期的2亿7千853万1千令吉增加15.9%至3亿2千273万令吉。

该公司在截至今年9月30日止的首九个月内,取得7千479万5千令吉的净利,较去年同期的6千753万6千令吉增长10.8%。其营业额则从去年同期的8亿1千零58万7千令吉上升13.1%至9亿1千691万7千令吉。

此外,高产尼品也宣布派发每股5仙的免税中期股息,派息日为本月21日

杨勇俊相信,高产尼品“已放弃”收购橡胶种植地的计划,反观将提振本身在区域中的技术橡胶产品业务来支撑盈利表现。他认为,该公司放弃上游拓展计划实属合理之举,因如此可让该公司专注在胶手套生产方面的核心业务。杨氏也预计该公司将在未来维持其天然胶手套及丁腈(nitrile)手套的各半产量比率。

报告中也维持高产尼品的超越大市评级,以及其3.69令吉的目标价格

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发表于 2012-11-26 09:28 | 显示全部楼层
Kossan Rubber Industries earnings expected to remain steady

PETALING JAYA: Kossan Rubber Industries Bhd’s earnings are expected to remain steady at least into the next quarter as latex prices stabilises.

BIMB Securities Research analyst Thong Pak Leng said latex prices, which made up to 60% of the glove maker’s costs, had stabilised to RM5.60 per kg since early August. However, he pointed out that glove makers expected prices to rise above RM6 per kg in the longer term.

Thong said in his report that glove makers’ earnings should remain steady into the next quarter while maintaining his earnings forecast over the next two financial years.

Kossan’s third quarter pre-tax earnings margin improved to 12.9% against 10.7% (quarter-on-quarter) and 11.8% (year-on-year) mainly due to lower latex prices and a change in product mix.

It made a net profit of RM29mil for the quarter, up 24% quarter-on-quarter.

Glove makers’ raw material costs have been declining in line with falling global commodity prices, translating into lower operating costs and better margins.

On a quarter-on-quarter basis, nitrile prices fell 12% to RM4.22 per kg during the July to September period although it was flat against the same period last year, while natural rubber was trading at RM5.60 per kg.

Rubber prices were trading around RM5.75 per kg this week, off its near-RM8 peak in February. Its lowest point for the year was in mid-August.

HwangDBS Vickers Research analyst Hon Seow Mee said the glove maker’s nine nitrile glove lines commissioned in July and nine surgical glove lines (expected to start operation in December) should drive its financial year ending Dec 31, 2013 earnings growth.

She said the technical rubber products division should continue to see steady earnings, and its clean-room division should break even in the next 12 months as losses continue to narrow each quarter.

Hong Leong Research said in an update that Kossan’s third-quarter results were in line and expected its fourth-quarter earnings to be stronger mainly due to the continued glove demand and lower latex prices.

http://biz.thestar.com.my/news/s ... 07&sec=business

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发表于 2012-11-29 10:29 | 显示全部楼层
香港景順投資購5.03%成高產尼品大股東

    大馬

2012-11-29 07:54

(吉隆坡28日訊)香港景順投資公司(Invesco)買進高產尼品(KOSSAN,7153,主板工業產品組)1千603萬股股票或5.03%股權,崛起成為高產尼品的新大股東。

根據高產尼品的主要股東變動通知顯示,香港景順公司是在11月23日透過公開市場交易取得這批股權。

景順是一家投資管理公司,在香港的業務具30多年歷史。現時提供予投資者的零售基金選擇超過60項,機構客戶業務方面,管理範圍包括公共款項及私營機構之營運資金等,另一項重點業務範籌為退休資產管理,景順自1977年起為香港僱主提供退休計劃服務。

高產尼品在11月23日挂平盤報3令吉19仙,今日股價微升2仙至3令吉23仙。(星洲日報/財經)

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发表于 2012-12-7 17:41 | 显示全部楼层
Kossan capacity expansion plans on track

KUALA LUMPUR: Kossan Rubber Industries Bhd's capacity expansion plans are well on track, particularlarly the cleanroom division, which is expected to contribute to the group's bottomline in its financial year 2013.

According to management, poor results posted by the cleanroom division were mainly due to the high inventory costs accumulated by the previous management, which has been "cleaned up" by Kossan during the nine months period of financial year 2012, said Alliance Research in a research note to Bernama.

Tp recap, Kossan completed its acquisition of Cleanera HK Ltd, a cleanroom gloves, face masks and wipes manufacturer in China in June 2010.

The division fell into the red from the first quarter of Kossan's financial year 2012, after it achieved the only profitable quarter in the fourth quarter of financial year 2011 since its acquisition.

"We expect Kossan to outperform its peers in 2013, underpinned by its attractive valuation and laggard performance in the sector," said Alliance Research.

Alliance Research said Kossan was also studying potential business opportunities in Indonesia, including setting up new glove and/or a technical rubber plant with a strong local partner.

Going forward, Kossan intends to increase its dividend payout ratio via more efficient capital management, given its net gearing is still low at 17 times as at the third quarter of financial year 2012. -- BERNAMA

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

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发表于 2012-12-8 16:26 | 显示全部楼层
(吉隆坡7日讯)高产尼品(Kossan,7153,工业产品组)的产能拓展活动按计划进行良好,这尤以洁净室业务尤为显著,如此料可为该公司2013财政年的盈利表现作出正面贡献。

安联研究在其给予《马新社》的报告中引述高产尼品管理层的话表示,洁净室业务所录得的低迷业绩表现主要是受该公司前管理层所累积的高企库存成本所影响,而这些成本已在本财年首九个月内“清理干净”。

高产尼品是于2010年6月完成中国洁净室手套,面罩和湿巾生产商--东莞久林吉良净化用品(Cleanera HK)有限公司的收购活动。

这项业务在完成收购活动后仅于2011财政年第四季获利,而后在本财年首季陷入亏损。

报告中说:“我们预计高产尼品的表现可在明年超越同业,主要是受其诱人的估值,以及其表现落后于同业的利好因素所提振。”

该行表示,高产尼品正探讨印尼的潜在商业契机,当中包括与强稳的当地伙伴设立新手套和/或技术橡胶厂房。

未来,该公司有意通过更为有效的资本管理来提高其股息派发率。值得一提的是,该公司本财年第三季的净负债比依然维持在17倍的低水平

http://www.eunited.com.my/?q=node/10047

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发表于 2012-12-8 16:27 | 显示全部楼层
原料成本下降导致利润走高 高产尼品财源广进

(吉隆坡26日讯)由于乳胶价格稳定,预料高产尼品有限公司(KOSSAN,7153,工业产品组)的收益会持续挺稳至少到下一个季度。

据回銀證券研究行(BIMB Securities)分析员董柏林(译音)称,自8月初以来,乳胶价格已经稳定下来,它占了手套制造商60%的成本份额。不过,他指出,手套制造商预期价格长远会上升至每公斤6.00令吉。

董氏在一项投资报告书称:“手套制造商的收益在下一个季度中仍然会保持稳定,并保持自已的盈利预测至未来两个财政年度不变。”

高产尼品的第3季度税前利润率由前期的10.7%按季增至12.9%,而按年则上升至11.8%,主要是由于乳胶价格下降和产品结构有变化所致。

该公司在上述季度中的净利,按季挺涨24%至2900万令吉。

手套制造商的原材料成本不断下降,以及在全球大宗商品价格下降带动下,转化为更低的运营成本和更高的利润。

在按季基础上,从7月至9月期间丁腈价格下跌了12%至每公斤4.22令吉,尽管这较去年同期持平,但是天然橡胶交易企稳在每公斤5.60令吉。

黄氏星展唯高达研究行分析员洪素美(译音)称,该公司于7月投产的9条丁腈手套生产线,以及9条外科手术手套生产线(预料会于今年12月间开始运作)应该会促使该公司在截至2013年12月31日止的财政年内的收益会有成长。

她说,技术橡胶产品部门应继续看到稳定的收入,其洁净室部门业绩在未来12个月里应该会有突破,这是因为每个季度亏损继续缩小。

至于丰隆证券研究行在更新该公司的第3季业绩时称,由于手套持续有需求与乳胶价走低,预料该公司在第4季度的收益会是强大的。

http://www.kwongwah.com.my/news/2012/11/27/1.html

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发表于 2012-12-8 16:29 | 显示全部楼层
本帖最后由 dragonism 于 2012-12-8 16:30 编辑

数利好因素 高產尼品评级上调
財经 2012年12月7日
     
(吉隆坡7日讯)隨著高產尼品(KOSSAN,7153,主板工业股)的净房手套业务即將作出贡献,並有意在印尼大展拳脚,加上管理层將提高派息率,促使分析员上修其投资评级至「买进」。

安联研究分析员近期与高產尼品高层会面,掌握该公司最新的业务动態和未来发展大计。

高產尼品的业务扩充计划进展顺利,尤其是净房手套(Cleanroom Gloves)业务。管理层预计该业务2012財政年將收支平衡,2013財政年开始赚钱。

高產尼品于2010年6月,收购一家位于中国东莞的香港顶尖净房手套企业--Cleanera有限公司,但这家公司2012財政年首季起便蒙受亏损。

该分析员表示,净房手套业务交出差劣的业绩,主要是前管理层累积了较高的库存成本,但这笔成本已在2012財政年首9个月被「打消」,预计在末季便能扭亏为盈。

探討印尼潜在商机

除此以外,分析员指出,高產尼品目前正探討印尼的潜在商机,包括和当地合作伙伴兴建一座新的手套或技术性的树胶產品工厂。

「儘管建厂计划仍处于初步阶段,不会在2013財政年对高產尼品作出净利贡献,但依然是重新评估这只股票的有利因素。」

展望將来,高產尼品有意透过更有效率的资本管理提高派息率,其截至2012財政年第3季的净负债率处于较低的0.17倍。该公司过去两年把净利的22%至25%派发股息。

「由于管理层无意擬定派息政策,我们相信2013財政年的派息率或许提升至33%至35%,相等于3.3%至4%的周息率。」

与此同时,分析员称,由于高產尼品的股票流动性偏低,管理层正考虑送红股或凭单来解决问题。高產尼品最近一次的红股活动是在2010年第3季。

分析员自今年10月9日上修高產尼品的评级至「短线买进」后,其股价已扬升8.5%,超越其他手套股的1.6%,但低于富时大马综指的9.7%。考虑到上述利好因素,分析员再把该股评级上修至「买进」,但合理价保持在4.09令吉。

http://www.orientaldaily.com.my/ ... 216:&Itemid=198

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x 810
发表于 2012-12-22 10:35 | 显示全部楼层
印尼今年計9人死於禽流感
東南亞  2012-12-21 13:30
(印尼‧雅加達21日訊)據印尼衛生部資料顯示,2012年計有9人死於禽流感,第9人於12月16日在茂物死亡。

印尼衛生部長納弗西亞表示,很遺憾,今年內印尼計有9人因感染禽流感不治全都死亡。
她說,上述9人是因經常換醫生致病情惡化。有關醫生或醫務人員不知道病人曾與病雞接觸。16日死亡的4歲小孩,就曾與病雞玩過。
納弗西亞部長呼吁民眾及衛生局人員提高警惕,別觸摸死禽,特別是小孩和老人,以免感染。
印尼全國家禽飼養業者協會提供的數據顯示,自今年11月以來,西、中、東爪哇省曾有大約32萬隻鴨子離奇死亡。印尼有關官員表示,印尼首次發現了一種此前尚未在該國出現過的禽流感病毒支系,它可能是近來約32萬隻鴨子死亡的原因。

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发表于 2012-12-31 18:25 | 显示全部楼层
手套股前景繼續受看好
大馬財經  2012-12-31 16:10
(吉隆坡31日訊)手套股在原料、美元和需求三“穩”條件支持下,展望繼續備受看好。

僑豐研究在報告中說,考慮到原料穩步下跌、美元兌馬幣趨穩、全球需求正面,加上開銷增加並未明顯打擊手套公司,維持該領域的“加碼”建議。
該行表示,全球膠手套需求維持正面,估計可維持8%常年成長,主要歸功於衛生意識不斷提昇。
“即使沒有出現任何‘不愉快的催化劑’如新的流感等,我們仍看好膠手套的需求,原因在於H1N1爆發後,消費者已經習慣使用膠手套,此外,發達國家的衛生要求嚴格、發展中國家的衛生意識提昇等,也是手套業的利好。”(星洲網)

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