Underdog Investors

Top Glove, the world’s largest glove maker, is back in the profit zone after seven quarters of losses. Thanks to a smart land sale and gains from currency changes, things are looking up. Key Highlights Profit Turnaround:  Top Glove made RM50.67 million in profit for the third quarter ending May 31, 2024. Last year, they had a loss of RM130.59 million in the same quarter. Boost from Sales:  The company sold some property and equipment for RM54.34 million and gained RM22.33 million from favorable currency exchange rates. Revenue Increase:  Their revenue went up by 20% to RM636.88 million, compared to RM530.62 million last year. This is because more people need gloves, and Top Glove could increase prices a bit. Positive Outlook:  Top Glove’s managing director, Lim Cheong Guan, is optimistic. The company sees more opportunities, especially in the US, where new tariffs on Chinese gloves could drive more business their way. Nine-Month Performance:  For the first nine ...

This week is packed with important events in global markets, despite the holiday break due to Hari Raya Aidiladha. Here's a rundown of what to watch: Key Trade Data Malaysia: The spotlight is on Malaysia's trade figures for May, set to be released on Thursday. In April, exports bounced back by 9.1% year-on-year, driven by machinery, chemicals, and palm oil, although the growth fell short of the expected 14.1%. Imports also rose by 15.6% y-o-y but missed the 17.8% forecast. Analysts believe April's slower momentum might be due to seasonal factors, not weakening demand. RHB Bank remains optimistic about Malaysia's trade outlook for 2024. Indonesia and Japan: Both countries will release their May trade data on June 19. Additionally, Indonesia's central bank will announce its interest rate decision on June 20, with expectations that the rate will remain at 6.25%. Major Court Cases In Malaysia, the trial of former Prime Minister Najib Razak and former Treasury secretary-...