Supermax Corporation Berhad
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Investor Relations: Analysts Reports
Affin Hwang Investment Bank Bhd
Date Title
06/05/2021 Lower sales volume due to production halt
03/02/2021 Another strong performance
28/10/2020 There is still more to it
10/08/2020 Operating leverage drives profitability
09/07/2020 ASP still increasing
20/05/2020 Not max-ed out yet; upgrade to Buy
26/02/2020 Supermax’s (SUCB) 1HFY20 performance was within our expectations
03/09/2019 Still positive but lowering expectation
15/05/2019 Supermax (SUCB) reported a strong set of results
13/02/2019 Continue to deliver
02/11/2018 Back on track
30/05/2018 Still on the right path
26/03/2014 Oversupply not yet an issue
07/02/2014 H1N1 scare returns
04/12/2013 A cheaper proxy
29/11/2013 On track to meet our FY13 growth forecast of +13%
04/09/2013 Capacity and efficiencies to drive earnings growth
28/08/2013 Inline: Most attractively priced glove producer
31/05/2013 Supermax 1QFY13 : Below our expectation by 5%
08/04/2013 A lift from H9N7 viral outbreak in China
27/02/2013 All is well-within expectation
27/11/2012 Results intact, on track to achieve our full year forecast
08/10/2012 Affin maintains OVERWEIGHT call on Rubber Gloves sector
29/05/2012 Aided by recovery in associate contribution
29/02/2012 Impacted by clearance of higher priced stocks
26/01/2012 Bouncing back in 2012
02/11/2011 Rewarding shareholders with a 1-for-1 bonus issue
25/08/2011 Revamping capacity expansion plans
27/07/2010 Sturdy demand to support 2H10
19/04/2010 1Q10 results trump expectations
11/01/2010 Still upbeat on this Star Performer of 2009
16/12/2009 Best of both worlds : offers growth and yields
Alliance Research Sdn Bhd
Date Title
29/05/2012 Supermax 1QFY12 results in line, making up 22.2% of our full year forecasts
08/02/2012 Sector Update : Not the time to buy yet...
08/02/2012 Supermax, the super marketing expert !!!
20/04/2010 Impressive quarter to kickstart
14/10/2009 Up Up and Away
AmResearch Sdn Bhd
Date Title
27/02/2013 FY12 earnings rise on sustained glove demand
22/11/2012 Initiation Report
BIMB Securities Research
Date Title
03/02/2021 Record breaking trend continuing
28/10/2020 A stellar start
21/05/2020 Scoring on OBM strategy during pandemic
26/02/2020 Tail end of soft earnings with promising quarters ahead
03/09/2019 Earnings growth achieved through efficient production
15/05/2019 Staying on-track
31/05/2013 Supermax 1QFY13 Results Review
27/02/2013 Supermax 4QFY12 Results Review : In-line as expected
29/05/2012 Supermax 1QFY12 Results Review : Below Recovery Slower Than Expected
29/02/2012 Supermax 4QFY11 Results : In-line as expected
15/11/2011 Rubber Glove Sector Update : Rubber price all the way down
25/11/2011 Supermax 3QFY11 Results : In-line
29/08/2011 Rubber Glove Sector Update : A better tomorrow?
CIMB Investment Bank Bhd
Date Title
06/05/2021 Any ASP decline likely to be gradual
10/02/2021 Not spared by Covid-19
02/02/2021 Quarterly earnings have not yet peaked
29/01/2021 2QFY21: Net profit above RM1bn mark
13/01/2021 Greener pastures still ahead
03/11/2020 Expecting better times to keep rolling
28/10/2020 1QFY21 Achieves another historical high
05/09/2020 1-for-1 bonus issue to reward shareholders
11/08/2020 On the cusp of greater quarters
17/07/2020 Adjusting for higher ASPs
06/07/2020 Higher-than-expected ASPs on the cards
02/06/2020 Still yet to peak
21/05/2020 Glove is ‘gold’ due to Covid-19
20/05/2020 Windfall from OBM and distribution business
26/02/2020 Better days ahead
30/08/2019 An unexpected blip
15/05/2019 Supermax Corp - Pricing pressure well-mitigated
13/02/2019 Regaining its Super-iority
02/11/2018 1QFY19: Expect stronger quarters ahead
30/05/2018 Supermax Corp 3QFY18: Still going strong
25/04/2018 Supermax Corp - Powering up
20/01/2016 Turning the corner
29/11/2013 Supermax 3Q13 Results Note : Still delivering
10/11/2013 Flash Note - Supermax proposed land acquisition
04/09/2013 Awaiting better growth
31/05/2013 Supermax 1Q13 Results Note : Making a comeback
27/02/2013 Supermax 4Q12 Results Note : Grip slips in FY12
27/11/2012 Supermax 3Q12 Results : In steady hands
22/08/2012 Supermax 2Q12 briefing : Learning to say no
29/05/2012 Supermax 1Q12 Results : Superb rebound in 1Q
29/02/2012 Supermax 4Q11 Results : Fits like a glove
16/05/2011 Supermax 1QFY11 inline
17/02/2011 Getting a grip post FY10 results
16/02/2011 Supermax 4QFY10 : Far from super
10/11/2010 Thumbs-up from management despite headwinds
09/11/2010 Getting to grips with latex price rise
20/10/2010 Results round-up : Not losing their touch
01/10/2010 Time to put your gloves back on
10/08/2010 Rubber Gloves : Striking back at the naysayers
25/05/2010 Midyear Strategy : Walking a tightrope?
21/04/2010 Good Health Plan
20/04/2010 Profit maxed despite concerns
15/04/2010 Still in (g)love
23/03/2010 Rubber Gloves -Results Round Up : On Growth Hormone
23/02/2010 Stretching Exercises Are On Track
22/02/2010 Handing Out Angpows
06/01/2010 Rubber Glove : In Great Shape
03/11/2009 Getting out of the grip of debt convenants
21/10/2009 Demand stretches into 2010
19/10/2009 Time for g(love)
16/10/2009 Supercharged
13/10/2009 Super Results on the way
05/08/2009 Rubber Gloves Getting to Grips with US Healthcare Reform
27/07/2009 Rubber Gloves : Packing a Punch
27/07/2009 Maximum Potential
22/07/2009 Stretching its market share
13/07/2009 Pushing to the max
13/05/2009 A better grip all round
11/05/2009 Super performance in 1Q
06/03/2009 Super fresh start to the year
Deutsche Bank
Date Title
28/11/2012 9M12 results in-line on lower costs; expect a Strong 4Q
28/02/2012 FY11 in-line; volatile costs remains a challenge in 2012
10/08/2010 Rubber Gloves : Stress test - tensile strength
25/07/2010 Rubber Gloves Stretching further
06/05/2010 Deutsche Bank - Rubber Gloves : Gloving the world
HSBC Global Research
Date Title
27/08/2014 OW: Expecting a better 2H14
Inter-Pacific Research Sdn Bhd
Date Title
29/11/2012 Automation paving path to better earnings
JF Apex Securities Berhad
Date Title
22/08/2012 Benefiting from rubber price slump
28/11/2012 Expecting a better 4Q
KAF-Seagroatt & Campbell Securities Sdn Bhd
Date Title
05/05/2021 9MFY21: broadly in-line with estimates
03/02/2021 Commitment to pay higher dividend
27/10/2020 Building plants overseas
21/09/2020 Land acquisition for new HQ
11/08/2020 Explosive margin
14/07/2020 Solid capacity growth
22/05/2020 Cutting out the middleman
27/08/2014 Supermax : A flattish quarter
29/11/2013 Supermax : On track
11/11/2013 Supermax : Planning for future expansion
28/08/2013 Supermax : Sequential improvement
22/11/2012 Lower associates
29/02/2012 Supermax 4QFY12 Results : Decent end
25/10/2011 Supermax 3Q11 margin recovery
19/02/2010 OutPerform : Finishing Well
15/10/2009 Superb
08/05/2009 Staying focused on operations
07/05/2009 Back to basics
24/02/2009 APLI - A costly distortion
Kenanga Research
Date Title
06/05/2021 9MFY21 Below Expectations
03/02/2021 Solid 1HFY21, Overseas Execution Risk
28/10/2020 Outperform - Great Set of Results, More to Come
11/08/2020 Great Set of Results, More to Come
13/07/2020 Supercharged ASP Rises Again
07/07/2020 Heads I Win, Tails I Win Too
10/06/2020 Expansionary Mode
03/06/2020 Quantum Leap
22/05/2020 Two Bets for the Price of One
21/05/2020 Strong Up-cycle Looming
26/02/2020 2nd Consecutive Quarterly Improvement
10/09/2019 Improving Visibility
03/09/2019 40 Percent Discount To Peers Unjustified
15/05/2019 Supermax Corporation - 9M19 Above Our Expectation
30/05/2018 9M18 Results Within Expectations
02/03/2015 Looking Forward to FY15
27/08/2014 New Plants Booster in 2H14
06/01/2014 Rubber Gloves : Bouncing Nicely into 1QCY14
04/12/2013 Exciting Times Ahead
29/11/2013 Solid Performance, Raised TP
11/11/2013 A New Hub in the Pipeline
04/09/2013 Full Steam Ahead!
27/02/2013 Supermax Corporation 12MFY12 within expectations
22/08/2012 Supermax Corporation 1HFY12 below expectations
05/06/2012 Rubber Glove
29/05/2012 Supermax Corporation 1QFY12 within expectations
29/02/2012 Supermax Corporation : Expanding to surgical glove
02/11/2011 Supermax Corporation 1-for-1 bonus issue
23/08/2011 Supermax Corporation pinned by latex price
16/05/2011 Supermax Corporation hit by high latex prices
Kim Eng Research Sdn Bhd
Date Title
17/02/2011 Strong Headwinds
27/08/2010 Headwinds persist
20/04/2010 Headwinds are abating
22/02/2010 Roaring Business
14/10/2009 Simply SUPER
22/07/2009 Return of the Panther II
13/07/2009 Return of the Panther
11/05/2009 Bullish guidance
10/03/2009 Distressed valuations
Macquarie Capital Securities
Date Title
14/11/2012 Macquarie's Natural Rubber Outlook for 2013
Maybank Investment Bank
Date Title
04/01/2012 Power Bites
MIDF Research
Date Title
06/05/2021 Higher ASP offset by lower volume
03/02/2021 Prospects still intact
28/10/2020 Growing global ambition
09/09/2020 Reining superior margins
15/05/2019 9MFY19 earnings supported by a higher sales volume
02/11/2018 Supermax Corporation Berhad - A strong start to FY19
30/05/2018 Contribution from Plant 10 & 11 boosted revenue
26/04/2018 Two-pronged approach to propel growth
19/07/2012 Super value on offer
MIMB Investment Bank
Date Title
27/08/2010 Strong 1H10 Earnings Results
24/08/2010 Supermax Corporation Bhd : Tough Enough To Meet Demand
Nomura Securities Malaysia Sdn Bhd
Date Title
06/05/2021 3QFY21 earnings call takeaways
03/02/2021 2QFY21 earnings call takeaways
27/10/2020 1QFY21 results: Another record quarter
10/08/2020 Solid end to the year
03/09/2019 FY19 results Below our expectations
15/05/2019 3QFY19 beats expectations
02/11/2011 Announces 1 for 1 bonus issue
21/10/2011 SUCB 3Q result note
27/09/2011 Asia Glovemakers Report
13/05/2011 1Q11 weak but everyone probably knows why
14/02/2011 Supermax FY10 meets our forecast
09/11/2010 Supermax 3Q10 Reaffirming BUY
27/09/2010 Did we miss the fat lady singing
26/08/2010 1H10 comfortably inline despite soft quarter sequentially
19/04/2010 1Q10 bottomline : More than Double y-y, up 5.5% q-q
22/03/2010 Healthcare Reform Bill Passed; Positive for Gloves' Sentiment
12/03/2010 Another Good Stretch
OSK Research Sdn Bhd
Date Title
28/11/2012 Growth Still Positive
23/08/2012 A More Generous Dividend Payout
22/08/2012 Profit Spikes as Latex Price Slides
29/05/2012 Supermax Corporation 1QFY12 Results Review : Another Stable Quarter
29/02/2012 Supermax Corp FY11 Results Review : A stable quarter
13/01/2012 Bonus Issue Ex-Date Fixed
03/01/2012 Rubber Gloves : Forging Ahead, Pandemic or No
14/11/2011 Rubber Gloves : Latex Price Collapses
27/10/2011 Supermax Corporation - Time to Jump on The Bandwagon !
24/10/2011 Supermax Corporation 9MFY11 Results Review - A Buoyant Quarter
30/09/2011 Supermax Corporation making a comeback soon
16/05/2011 Supermax 1QFY11 Results Review
17/02/2011 Supermax Addressing Latex Price Spike
08/11/2010 9MFY10 Results Review : Normalising Demand Makes an Impact
21/09/2010 Negative Impact From Normalizing Demand
21/09/2010 OBM Partly Cushions Normalizing Demand
02/08/2010 Strategy Aug Sell Small Buy Big
22/06/2010 Rubber Gloves : Demand Still Ahead of Supply
23/04/2010 A Beautiful Quarter
03/03/2010 Proposes Bonus Issue
22/02/2010 Another Impressive Quarter Indeed
02/02/2010 Strategy February Outlook
13/01/2010 Rubber Glove robust demand spills over to 2010
04/01/2010 Strategy January Outlook
21/10/2009 Thirst for Gloves Stokes Demand
15/10/2009 An Exceptional Quarter
14/10/2009 Tipped to Trounce Estimates
06/08/2009 Rubber Glove Up Close with 4 Glove Plants
22/07/2009 No Change in Business Strategy
13/07/2009 Another Superb Quarter
11/05/2009 A new chapter unfolds
06/03/2009 Doing what it does best
25/02/2009 Inline if not for the impairment loss
RHB Research Institute Sdn Bhd
Date Title
06/05/2021 Still a Value Play; Still BUY
08/02/2021 Living The American Dream; Still BUY
03/02/2021 The Best Quarter Is Yet To Come; Keep BUY
22/12/2020 One Step Closer To The American Dream; Stay BUY
28/10/2020 Pursuing & Crystallising The American Dream
11/08/2020 Earnings Surge In 4QFY20; Stay BUY
21/07/2020 1-for-1 Bonus Issue; Keep BUY
14/07/2020 Steeper ASP Increases At Distribution Level; BUY
08/07/2020 More Than Just a Manufacturer; Maintain BUY
10/06/2010 Buying Land For Expansion; Keep BUY
02/06/2020 OBM = Lightning In a Bottle! Stay BUY
22/05/2020 Expect 4QFY20 To Jump 35% QoQ; Reiterate BUY
21/05/2020 Earnings Doubled, Best Is Yet To Come! Still BUY
26/02/2020 COVID-19-Driven Demand Beneficiary
23/01/2020 Supermax Corp - Upgrade to BUY from Neutral with a higher DCF
15/05/2019 Supermax - Positive Earnings Surprise
13/02/2019 Value Has Emerged, Upgrade To BUY
30/05/2018 Resilient Growth Despite Higher Gas Tariff
23/04/2018 Rebuilding For Growth
20/01/2016 Ready, Set And Go
31/12/2014 Consumer Non-cyclical - Rubber Products
04/12/2013 Full Speed Ahead
29/11/2013 Supermax 3QFY13 Another Solid Quarter
11/11/2013 Business Park To Take Shape
10/09/2013 Heathcare Products - Rubber Gloves
10/09/2013 Buoyant Outlook Ahead
29/08/2013 Healthy 1HFY13 Numbers
31/05/2013 Supermax 1QFY13 Within Expectations
27/02/2013 Two New Plants Coming Onstream In FY13
Standard & Poor's
Date Title
20/04/2010 S&P : Supermax 1Q10 Maintain STRONG BUY
22/02/2010 Supermax 4Q09 Maintain STRONG BUY
25/01/2010 Raise to Strong Buy
23/11/2009 Supermax Update : Maintain Buy
13/07/2009 Keep STRONG Buy
11/05/2009 Recommendation: Strong Buy
25/02/2009 Recommendation: Buy
TA Securities Holdings Bhd
Date Title
06/05/2021 3QFY21 Hit by Covid-19 Cases
03/02/2021 Outlook Still Rosy
28/10/2020 The Best is Yet to Come
22/05/2020 Robust Quarters Ahead
26/02/2020 Earnings to Pick up in 2HFY20
10/09/2019 Beneficiary of US-China Trade War
03/09/2019 Lacklustre 4QFY19
02/11/2018 Supermax Corporation Berhad - Share Price Undervalued
27/08/2014 Look Beyond Temporary Earnings Disruptions
29/11/2013 Margin Improve on Cost Mitigating Measures
11/11/2013 Supermax Business Park in the Making
04/09/2013 Back to the Hunting Grounds
29/08/2013 Raw Material Prices Remain Weak
12/07/2013 Supermax Corporation : Time to join the party
31/05/2013 Supermax YoY Profit Up Despite Minimum Wage
27/02/2013 Supermax FY12 Results Within Expectations
23/08/2012 Double-Digit Earnings Growth Guidance Intact
29/05/2012 Results Within Ours’ but Slightly Below Consensus
29/02/2012 Spot On!
27/10/2011 Turning Point?
24/10/2011 Results within Ours’ but Below Consensus Expectations
02/11/2011 1:1 Bonus Issue
10/11/2010 Outlook Remains a Challenge but Bright Spots are Emerging
08/11/2010 3Q FY10 Results Moderated but within Expectations
21/04/2010 Demand for Rubber Gloves Still Strong
23/02/2010 Super Duper Profit !
09/02/2010 Good Time Continues
30/11/2009 5 Fingers in the Honey Pot
21/10/2009 Promising Outlook; TP raised to RM6.55
22/07/2009 High Five!
13/07/2009 Surprise Indeed
UOB Kay Hian Securities (M) Sdn. Bhd
Date Title
06/05/2021 3QFY21: Within Expectations As Temporary Closure Weighs On Output
03/02/2021 2QFY21: Beyond Expectations; ASPs Remain Resilient
10/11/2020 Outlook Remains Positive
06/07/2020 Shines Bright Like A Diamond