Hartalega Holdings Berhad

Titan Trading Notes For Friday [11/4/2025]:

KLCI had a huge rebound back towards the 1463 points region as the whole market sentiment recovered after Trump announced a 90 day pause for most countries except China on the tariffs. Daily trading volume settled around the 4.4 billion mark, which is decent for now.

Main stocks that showed strong buying momentum would be the likes of MYEG, TOPGLOV, SUMI, SUPERMX, INARI, NATGATE, GAMUDA, HARTA, CIMB, VS, GREATEC, PBBANK, TANCO, CAPITALA, FRONTKN, YTL, GENETEC, MRDIY, SIMEPROP, YTLPOWR, SCGBHD, and ECOWLD. All of which were able to sustain their rallies throughout the day on the top volumes list.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) d a huge breakout from its RM 2.10+ major resistance levels and rallied all the way towards the RM 2.30 regions with huge volume and buying momentum today as Malaysian glove makers gain a competitive edge mainly against its Chinese competitors due to the tariffs.

For now, HARTA is definitely one of the leading glove companies and if able to sustain above its RM 2.10+ support, could breakout further towards the RM 2.50 - RM 2.60+ major resistance levels soon in the coming weeks.

Will be monitoring HARTA closely.

$NATGATE / 0270 (NATIONGATE HOLDINGS BERHAD) on the other hand since retracing all the way back towards the RM 1+ major support levels from the day before, was able to gap up and breakout all the way towards the RM 1.30+ regions with huge volume and buying momentum.

Although still facing some selling pressure above the RM 1.20+ resistance, but as long as able to sustain above its RM 1.10+ support, could breakout back towards the RM 1.40 - RM 1.50+ resistance levels soon in the coming weeks.

Will be monitoring NATGATE closely.

Overall market sentiment remains shaky here as US markets continue to drop today, reversing almost half of yesterday's gains. Will be a shaky period here even if China and US were to go in talks...and we're not even at the talking stage yet between the 2 giants.

The only sector to benefit from this ongoing tariff battle would be local glove makers, namely HARTA, TOPGLOV, KOSSAN, and SUPERMX. Among 4 of them, SUPERMX actually has the most American exposure but somehow hasn't been performing as well as HARTA and TOPGLOV.

Either way, still worthwhile to pay attention to the glove sector.

Too many uncertainties. Stay sharp and monitor closely. Be careful.

Sharing from remisier

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
$KOSSAN / 7153 (KOSSAN RUBBER INDUSTRIES BERHAD)
$TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD)

*Gloves Sector Flash Update 🧤

- *Two weeks after soft guidance by Harta’s management* in its results briefing, *Malaysian glove companies 🇲🇾* have seen share price declining by 30-40%.

- *Retain our view* that recent selldown is overly pessimistic, and *deep value has emerged* following such drastic retracement.

- *Rating📈.* We’ve previously advocated investors to monitor for inflection point and consider *positioning once the selldown stabilises🌊.* We believe near-term share prices may have bottomed throughout this two weeks’ *price discovery.*

- *Maintain BUY on:* Harta (RM2.16/TP:RM3.14); TOPG (RM0.88/TP:RM1.31); Kossan (RM1.80/TP:RM2.52).

- *Valuations in bargain📊.* Gloves companies under our coverage are now trading at *-1SD below mean PE* on 2026F earnings. Note that sector has been trading between +0.5SD/+1SD throughout 2023-24.

- *Full impact from US order shifts are not reflected yet🇺🇸.* Sept-Dec 24 (4Q24) results are already commendable, but note that US distributors frontloaded purchase from China producers that run double shifts to rush orders before tariffs. This is evidenced from the monthly US gloves import chart flows in 2024.

- *Against 1Q25's softening results🥊,* 2Q25 will see good pick up as US' purchase recover significantly (higher than 4Q24's orders as US distributors will not be able to buy from China anymore).

- *Further analysing US distributor's inventory levels📦.* If US annual normalised gloves consumption c.65b pcs, overstocked inventories in 4Q24 may be only c.7b pieces. This translates to c.1.5 months of excess inventory. Adding back normal inventories level of 1-2months, potential inventory levels at c.2.5-3months.

• *Malaysia production capacity is c.150b 🏭* (big 4 glovemakers) and running at *U-rate of c.60%* averagely (3Q24; before surging order due to US kicks in). If we assume: *i)* US completely stop purchasing from China beginning 2025; *ii)* 30b existing China exports fully flows to MY glovemakers, indicative U-rate shall recover to *c.80% in phases.*

- *Challenging outlook in Europe is not something new🇪🇺,* we've highlighted in our earlier reports that competition in the region will be intensified after US' revised tariffs to China gloves. This however, may be compensated by surging US sales and better margin.

• *China ASP not as low as expected 🔻.* Analysing several invoices of few China glovemakers, Dec 24's ASP for *nitrile gloves* is US$17.30 vs June's US$16. *Latex gloves'* ASP in Dec is US$20.70 vs June's US$19.80. *PVC gloves* Dec US$17.30 vs June's US$15.90.

• *Recall that China glovemakers only turnaround into operational profit in 1Q-2Q24♻️,* which indicates potential breakeven ASP closer to US$16. Note that such breakeven points are when their utilisation rate >90%. With the loss of US market share, U-rate will decline and breakeven cost will rise.

- *Local glovemakers' global market share🌎* for medical gloves is highest at *c.40-55%.* Over past two decades, its been proven that *gloves demand will surge during viral infections😷:* H1N1 (2010), MERS (2012), Ebola (2014), 2020 (COVID-19) are case-studies, so are valuations.

• *About fund flows🚰 .* Malaysia Big 4 glovemakers have combined *market cap of c.RM22b* currently. Excluding family/direct ownership from major shareholders, floating shares are at *c.RM10-11b.* This excludes all institutional holdings.

• *Risk reward is attractive at this level🍀 .* As such, we think that once sellers exhaust, sector offers good trading opportunities. Sector have seen multiple rounds of liquidity squeeze when positive newsflow emerge, surging within c.40-70% trading range in recent two years. *Entry point🚪 :* after selldown stabilises.

Sharing from my relationship manager

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WHAT DC JITTERS?; LOOK BEYOND USUAL TECH PLAYS; MRDIY COMEBACK'S REAL?; MAXIS INTO SOLAR; GLOVES COMEBACK NOT AS EASY; O&G SERVICE PROVIDERS ALRIGHT; MIXED RESULTS SEASON...

*MY MKT:* *WHAT DC JITTERS?..* Understand the near-term jitters but judging by how things are panning out, long term thesis is *intact* as *ECOWORLD* can attest to following its *3rd land deal* in under a year, latest being with *MICROSOFT worth RM690mil.* Also *comforting* to know MICROSOFT’s planning to *develop/operate DC* on acquired land, further *proof* that MY’s DC space remains *resilient.* Further, this came on back of *AirTrunk’s plan* to develop *2nd DC in Johor* which is good for likes of *SUNCON, IJM & GAM.* True enough, *SUNCON* delivered *strong 4Q* thanks to *DC projects* & in *our call (>50 clients)* with mgmt., it’s clear that its *5 DC projects* have potential to be *upsized* with 1-2 full-sized conversions by *1Q25 worth c.RM2bn.* Meanwhile, mkt doesn’t seem to ascribe *much value to YTLP’s* DC ventures as *take-up* for 80MW balance needs to pick up *meaningfully + enough details* to justify further rerating.

While focus been on PROPERTY & CONSTRUCTION players, uncertainty from the noise gives us opportunity to *look* beyond the *usual DC/tech angle.* For instance, Trump’s tariff on *US Med Tech* market, though tough to quantify and is a *concern* for most Med Tech companies which have *manufacturing plants in Mexico & China,* should be taken *POSITIVELY by Msian* players as we could be *alternative hub* and likely *+VE mid-long* run for *PENTAMASTER & GREATECH.* At WESTERN DIGITAL analyst day, was highlighted that *NAND demand* to grow at *mid to high teens* rate *longer-term* though subdued *PC/Smartphone demand* in near term, could mean *NEUTRAL near-term* for *NOTIONVTEC & DUFU* but overall *+VE in longer run* as enterprise *storage* to drive overall *HDD demand* on AI storage.

As we’re constructive on *private consumption,* *MRDIY* still gives best *exposure* to this theme esp. having fallen *c.20% ytd*c.75% upside* with attractive *P/E of only 16.7x vs global peer’s 34x.* But feedback so far point to *fears of weak 4Q24* results as funds were scarred by *weak* release of its *3Q in Nov* which is understandable. Yes, earnings in *short term* could be dragged by *declining SSSG/automated* warehouse issues, but with more *store rollouts,* strong consumer *sentiment,* steady *gross margins* & *KKV’s contribution* should only help delivery of strong *3-yr EPS CAGR of 24%.* This on top of its plans to grow into *untapped* areas ie East Msia/Coast which is why, its *decline* really looks *overdone* plus *4Q* is when bulk of discount *incentives are booked,* which means 4Q should be *better QoQ.*

*Mixed results* so far at least for big ones. *MAXIS’ inline* with Prem’s/consensus as guidance for FY25 is similar to his estimates except for capex where he includes 5G capex. Interestingly, MAXIS like TIME has *ventured into solar panels* as a new revenue stream to increase customer retention. Obviously, *HARTALEGA* made waves with its disappointing *post briefing* updates as sales vol. could be *weaker QoQ* in March due to *frontloading in previous qtr* and *difficulty* in raising ASP despite US/China spat. But share price’s slight *rebound* following selloff shows there’s *trading angle* to this though caveat is, *cost pass through* ability isn’t as easy as *pre-pandemic.* O&G, while *DIALOG* gave a scare, *PERDANA/DAYANG* delivered an overall *strong 2024* though still fell short of *expectations* given *slower final qtr (monsoon)* but more importantly, now *Petronas’* outlook’s *addressed,* jobs & earnings for *services* sector will only *improve.*

*RECENT FLOWS: Results season flows have been better as we net bought of late though foreign funds cont. to sell. Heavy buying flows on names like MAY, MISC & MRDIY. Overall, mixed results so far.*

$DUFU / 7233 (DUFU TECHNOLOGY CORP. BERHAD)
$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
$ECOWLD / 8206 (ECO WORLD DEVELOPMENT GROUP BERHAD)

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
Who dares to catch the falling knife?

Harta being one of the largest glove companies, had unwittingly caused the downfall of gloves companies share prices.

I just gotta say, Harta's management are too honest. It's what a great company would do, to call a spade a spade to shareholders & not mask the truth.

Buying into an industry that's facing headwinds is very challenging for shareholders. Unless you're super confident, I'd stay away.

📌 $HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) Profitability Risk in 2H2025

HARTA has *not explicitly stated* that it will incur losses in the *second half of 2025*, but the following key factors could *put pressure on profitability*, potentially leading to *losses*:

🔍*Key Risk Factors*

1️⃣ *Order Decline: Short-Term Demand Weakness*

- Due to *frontloading*, some customers have *already stocked up* large inventories.
- *New orders may only resume in April or May 2025*.
- *1QFY26 (April–June 2025)* could still *face weak order flow*, impacting *revenue growth*.

2️⃣ *Decline in Plant Utilization*

- 3QFY25 utilization rate: *86%*
- 4QFY25 expected utilization rate: *70-75%*⚠️
- Lower utilization means *reduced production efficiency* and *higher fixed cost allocation*, which could *impact profitability*.

3️⃣ *ASP (Average Selling Price) Pressure*

💰 Current ASP:
- *US market: USD21/carton*
- *Non-US market: USD18-19/carton*
- *Chinese manufacturers’ ASP (Non-US market): USD15/carton*
⚠️ If *ASP fails to increase further, profit margins may continue to be compressed*.

4️⃣ *Rising Costs*

📈 *Minimum wage increase*: *+USD0.20/carton*, adding cost pressure.
🛢 *Raw material costs will not decline*:
- Upstream suppliers rationalizing capacity, meaning prices may remain stable or rise.

5️⃣ *Exchange Rate & Hedging Impact*

💵 HARTA’s current hedging rate: RM4.3/USD1
⚠️ *If MYR strengthens further, export profitability may be affected*.

6️⃣ *Intensifying Competition*
🇨🇳 *Chinese manufacturers expanding into Southeast Asia* (*Indonesia*, etc.)
🏭 *New capacity: 30 billion pieces per annum* (equal to China’s glove exports to the US)
⏳ Expected to be operational by mid-2026 → *Could further pressure ASP in 2H2025, affecting profitability*.

📌 *Conclusion*:
*HARTA's profitability faces significant challenges in 2H2025*. Investors should monitor ASP trends, order recovery, and cost controls closely.

Hot hot hot

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) briefing

Sharing from remisier

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*Hartalega – 3QFY25 results briefing*
Q: Volume outlook?
A: Frontloading activities will affect the volume until Apr or May 2025. Will see resumption of orders post that. US has been buying for 8 bil pieces per month in Jul – Sep 2024. And the volume has gone up to 10 bil pieces per month in Oct – Dec 2024. Hence there is an additional one-month capacity which means the volume can last until Apr or May 2025. Will have visibility on order resumption in Mar and Apr 2025. Expect lower utilisation at 70-75% for Jan – Mar 2025 (4QFY25) from 86% in 3QFY25.

Q: ASP trend?
A: Will see better picture after the frontloaded volume depletes.

Q: ASP gap between US and non-US markets?
A: USD2 difference. USD21/carton for US and USD18-19/carton for non-US. Chinese manufacturers’ ASP for non-US market USD15/carton.

Q: Raw material cost
A: Upstream players are rationalising the capacity and the raw material cost will not be tapering off.

Q: Hedging
A: Hedged USDMYR at RM4.3/USD1 for 2.5 months.

Q: Margin outlook
A: next quarter, seeing the orders softening as buyers frontloaded the volume. Margin could be under pressure in 4QFY25.

Q: Headcount and impact of higher min wage
A: 8k. to reduce to 7k in the next two quarters. Impact of higher min wage amounts to USD0.20/carton.

Q: Chinese competitors
A: They are expanding in Indonesia and other ASEAN countries. It is estimated to be around 30 bil pieces per annum, which is equivalent to the volume export to the US from China. Earliest it will be ready by mid-2026.

Q: proportion of sales to the US?
A: 63% in 3QFY25 vs 50% historically.

Sharing from remisier.

Glove back?

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) $KOSSAN / 7153 (KOSSAN RUBBER INDUSTRIES BERHAD) $TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD)

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*Gloves Sector Flash Update 🧤

- *Thailand’s 🇹🇭 Public Health Ministry* has warned that the incidence of influenza is spreading rapidly, with four provinces in the northeast region the hardest hit.

- *There has been a big jump in infections in February.* According to the Thai health ministry, 7,819 cases of influenza were reported in Jan, but by 15th Feb, total infections this year had leapt to 99,057, with nine fatalities. The ministry also said that *H1N1🦠 is the main virus strain* active in Thailand at present.

- *These concerns😷* on raising influenza cases are again *lifting sector sentiment,* despite unlikely to evolve into a COVID-19 like pandemic.

- *Coupled with confluence of catalysts🌟* such as: *i)* US’ higher tariffs on China gloves; *ii)* improving earnings and operating matrixes; and *iii)* lack of visible thematic catalysts across other sectors, we *do not rule out possibilities* of Malaysian gloves sector *re-rating back to +1SD above mean valuations range.*

- *We are still maintaining our valuation methodology and TP for now, pending further monitoring ⚖️.* Our current TPs: Kossan (RM2.24/TP:RM2.65); Harta (RM3.31/TP:RM3.66); and Top Glove (RM1.20/TP:RM1.31) are *based on +0.5SD above mean on 2025F PE* and may re-rate to +1SD if such sentiment continues to build up.

- *Expect slight positive share price movement📈* across domestic gloves name, but should still *trade range-bound towards our +0.5SD valuations range* unless participation of strong fund flows.

- Harta will also be releasing its 3QFY25 results today.

Sharing from remisier. Glove is back?

*Gloves Sector Flash Update 🧤

🔹 *Trump impose 10% additional tariffs on China imported goods,*⚖️ after signing an executive order on Saturday. Including earlier tariff modification by USTR, China’s medical gloves likely faces higher tariff of 60% in Feb 2025 and 110% in 2026 (from current 50%; initially proposed 100% in 2026).

🔸 *China manufacturers no longer competitive in US market🇨🇳.* Assuming China’s breakeven ASP of US$14.5-15, adding in a 60% tariff will result in US ASP of US$23-24. Given that such tariffs will further revised to >100% in 2026 and considering supply chain consistency, US distributors/hospitals will likely stop purchasing from China, resulting in altering industry landscape which benefit MY glovemakers.

🔹 *Concerns on Trump’s proposed universal tariffs policy also have limited impact 🌍.* While there’s lingering uncertainty that Trump may introduce global tariffs of 10-20% across all imports to the US, MY glove-makers shall also be shielded. Factoring in the existing 60-110% US tariffs imposed on China medical gloves in 2025-26, the pricing gap between Malaysia and China producers for US exports is still wide.

🔸 *In terms of rough US market exposure🇺🇸:* i) Harta leads with >50% of total sales; ii) Kossan c.40%; iii) Top Glove c.20%; iv) Supermax c.29% historically. Such figures will see meaningful surge in coming quarters.

🔹 *Sector valuations palatable after ytd retracement.* We’ve downgraded the sector to Market Weight since early Jan 2025, citing “overhyped optimism” after domestic glovemakers’ share prices surged by 46-53% in 2024 (contrarian overweight rating since 2023). While MY glove stocks’ subsequently *retraced 11-20% last few weeks,* current valuations provide trading opportunities.

🔸 *Stock ratings💡.* Officially, we have a HOLD rating on Top Glove, Kossan and Hartalega after early-Jan’s downgrade. Nevertheless, *Kossan* (RM2.24/TP:RM2.65); *Harta* (RM3.31/TP:RM3.66); and *Top Glove* (RM1.20/TP:RM1.31) now trades at good entry level and *poses commendable capital alpha with limited beta* towards AI/DC or further US tariffs newsflow.

$TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) $HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) $KOSSAN / 7153 (KOSSAN RUBBER INDUSTRIES BERHAD)

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
Research by CGSI

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
Research Reports by RHB

2024 portfolio review.

My beginning portfolio is quite similar with POTY 2024, however there were some changes throughout.

overall profitable at around 35%. The biggest performers were bumi armada, panda and mfcb.

Due to the intense schedule, I wasn't able to explore more counters. I continued the practice of assimilation of daily life into investment with the shortlisted counters that i am familiar with.

Cut loss part.
$OPTIMAX / 0222 (OPTIMAX HOLDINGS BERHAD) has been my counter of interest for quite some time (Targeted expansion, commendable vision and ever enlarging addressable markets). Through consolidated information, I believed it's a good counter for long term strategy. I entered at 70sen in august dip and decided to cut loss recently to make space for the counters that I have higher confidence with. it was my 4th largest holding.

Absolute luck.
$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) : I observed the export trend of gloves and intco report, was targeting around 20% of profit space initially. Thanks to grandpa biden. I sold all during limit up.

Curi ayam (I only had rough picture on these counters, no deep dive)
SCGBHD and GDB. (Contractual play)

too greedy
panda Some discussion are ongoing regarding the e invoice earlier. I believe e invoice it's a new markets for business and accounting software as this would make the LHDN net bigger and more efficient. Trend is strong. However i was too greedy to make risk management , sold all at 32sen in Aug. 乐极生悲

Necessary steps to move on
$YENHER / 5300 (YENHER HOLDINGS BERHARD) sold all in May at 90sen. I did like their strong presence in local market, especially swine related business (which the worst is about to over) with quite favorable prospect, however their new plant, which was there main selling point , is currently progressing in a sluggish way. (note their targeted date of new plant operation have been postponed multiple times ). Findings from the unofficial site visit in penang was unsatisfactory. hence i am still quite skeptical on their targeted date of operation in the latest report. My points of buying is not getting solid anymore. hence the exit.
anyhow, they annouced BI after the QR, which sparkled some gorengbility.

Patience.
armada: armada has been my core holding since 2021 with few trades along. Consolidate the news, armada is currently undergoing a major shift of business it seems. I had some discussion with peers regarding the main direction of armada. We concluded that there might have some major move ongoing on bumi armada. (will be quite a long story to tell). I just started my exit strategy for profit taking.

MFCB and rhonema : not much explanations needed.

new exposure counters. these counters are closely to my daily life and encounters, hence i have better confidence on their fundamental.

Sabah counters made a strong presence in 2024 with debut of azam jaya, lwsabah and kti.

LWSABAH : May refer my precious thread.
KTI : quite a reputable local contractor / developer over decades. I am buying the trend of their flagship projects, which have superior locations, necessity and reasonable price. (Not too many developers are willing to make condo at prime location with RM500 per sq ft, KTI is commendable to launch their affordable home at 350k). furthermore, the construction is currently progressing well. However i do not have solid info that can form the basis of their valuation. I aim to to attend their AGM for decision of further plan.

among these 3, azamjaya is the counter I understood the most. I anticipate certain extent gorengbility but due to the recent state cabinet event, I decided not to risk.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) issues a 10.85sen special dividend!!

$SGX-AP4 RIVERSTONE

As we close in to the 5 years of Covid boom and bust of the glove sector, this is still the only rubber glove company I know in the world, that came out of it without recording a single financial loss in a quarter.

And listening into their latest QR briefing, they're not stopping on YoY earnings growth.

I believe besides $HARTA / 5168 (HARTALEGA HOLDINGS BERHAD), RIVERSTONE will be exposed more than other glovemakers to US client demands. $KOSSAN / 7153 (KOSSAN RUBBER INDUSTRIES BERHAD) $TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD)

In the briefing, management mentioned that healthcare glove volume had increased 30% QoQ, with the driver being the tariff in US made some clients moved back and gave order. And the best thing is that ASP for US clients can and had been increased.

Management believe that US market will contribute 70% to overall business next year, up from 40% contribution this year.

Looking forward to more yummy dividends and earnings growth in 2025!

@zhexiangxd @CalmSage @terence775

Titan Trading Notes For Wednesday [13/11/2024]:

$KLCI closed back slightly red around the 1608 points region with an overall negative market sentiment as we still saw over 600 counters closing red for the day. Daily trading volume settled around the 2.99 billion mark, mainly dominated by sellers still.

Main stocks that showed strong buying momentum would be the likes of CAPITALA, AZAMJAYA, JPG, TOPGLOV, TANCO, VS, HARTA, YEWLEE, YTL, MMAG, and CTOS. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

$AZAMJAYA / 5329 (AZAM JAYA BERHAD) after its strong debut yesterday, was able to carry forward with its buying momentum and broke out all the way towards the RM 1.25 regions, forming a new all time high here with huge volume.

So far looking quite strong here and as long as able to hold above its RM 1.20 immediate support, could continue on towards and beyond the RM 1.25 all time high levels for a further breakout.

Will be monitoring AZAMJAYA closely here.

CAPITALA on the other hand after consolidating over the past few weeks with RM 0.95+ as the main uptrend support, was able to breakout strong from its RM 1.02 local high resistance and rallied all the way towards the RM 1.05 regions with good volume today.

It's looking quite bullish now and ripe for a breakout here after much consolidation. For now as long as able to hold above its RM 0.98+ immediate support, could continue on towards and beyond its RM 1.10+ regions soon.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) despite reporting reduced profit in its latest QR, was able to bounce back quickly from its RM 3.16+ main support levels and close green around the RM 3.32 regions with good volume and buying momentum.

So far looking quite strong here as it's leading the glove sector here. For now, as long as able to hold above its RM 3.20+ immediate support, could continue to trend back up towards the RM 3.48+ regions soon.

Will be monitoring HARTA closely as the glove sectors are looking quite promising.

Titan Trading Notes For Monday [14/10/2024]:

$KLCI retraced back towards the 1633 points region with an overall negative market sentiment as we saw almost 550 counters closing red for the day along with it. Daily trading volume remained low around the 2.2 billion mark, mainly dominated by sellers.

Main stocks that showed strong buying momentum would be the likes of SINKUNG, TOPGLOV, YEWLEE WA, YEWLEE, SUPERMX, HUPSENG, TANCO, SPSETIA, SUNWAY, and MRCB. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market.

$HUPSENG / 5024 (HUP SENG INDUSTRIES BERHAD) was definitely one of the star performers during last Friday. Since breaking out from its RM 1.08+ main downtrend resistance levels, was able to breakout all the way towards the RM 1.20+ regions with huge volume and buying momentum.

So far looking quite bullish here despite being overbought. As long as able to sustain above its RM 1.15+ immediate support levels, could continue on towards and beyond the RM 1.25 - RM 1.30+ major resistance levels soon for an uptrend continuation pattern.

Congratulations to those of you that earned a good profit from HUPSENG as per my earlier trading plans. I'm still hanging on to it to see how far it can go here.

$SINKUNG / 0305 (SIN-KUNG LOGISTICS BERHAD) on the other hand since breaking out from its RM 0.175+ main downtrend resistance over the past few weeks, had been able to hold quite well above it and rallied all the way towards the RM 0.22 regions during last Friday, forming a new all time high here.

So far looking quite strong despite being overbought. As long as able to hold above its RM 0.185 - RM 0.20 immediate support levels, could continue on towards and beyond the RM 0.22+ all time high levels for a bullish continuation pattern.

Will be monitoring SINKUNG closely as something big seems to be brewing here.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) since breaking out from its RM 2.90 major resistance levels, was able to hold strong and broke out all the way towards the RM 3+ regions during last Friday despite the weak market sentiment.

So far looking quite strong here and as long as able to hold above its RM 2.90 immediate support levels now, could continue on towards and beyond the RM 3.10 - RM 3.20 major resistance levels soon.

Will be monitoring HARTA closely as seems to be ripe for an uptrend continuation pattern already.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
Research by Kenanga

KUALA LUMPUR: Hartalega Holdings Bhd is expected to benefit from the recently announced upward United States (US) tariff revision on Chinese glove makers moving forward.

Hartalega Holdings Bhd stands to benefit from the impending 50% import tariff by the United States on China-made gloves by 2025, given its large revenue exposure to the US market.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
Research by CGSI

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
Research by RHB

Titan Trading Notes For Wednesday [2/10/2024]:

$KLCI had a decent rebound back towards the 1656 points region with an overall positive market sentiment as we rebounded from Monday's sell off. Daily trading volume however remains low around the 2.5 billion mark, which isn't a good sight.

Main stocks that showed strong buying momentum would be the likes of DNEX, LHI, TOPGLOV, HIAPTEK, CEB, LAYHONG, VS, SDCG, WCT, ELRIDGE, ASTRO, EKOVEST, AAX, EATECH, and SPSETIA. All of which were able to sustain their rallies throughout the day on the top volumes list.

$DNEX / 4456 (DAGANG NEXCHANGE BERHAD) after announcing its cloud partnership with Google, was able to breakout strong from its RM 0.365 main downtrend resistance and rallied all the way towards the RM 0.395 regions with huge volume and buying momentum today.

So far still facing strong selling pressure above the RM 0.39 regions here but as long as able to sustain above its RM 0.365 immediate support, could continue to trend up towards and beyond its RM 0.40+ major resistance levels soon.

Will be monitoring DNEX closely here.

$LHI / 6633 (LEONG HUP INTERNATIONAL BERHAD) since briefly retracing back towards its RM 0.68+ immediate support levels last week, was able to hold strong and broke out all the way towards the RM 0.76 regions with huge volume and buying momentum today.

So far looking quite strong here and as long as able to sustain above its RM 0.72 immediate support levels, could continue on towards and beyond the RM 0.78 - RM 0.80+ major resistance levels soon for an uptrend continuation pattern.

Will be monitoring LHI closely here as it remains one of the leading poultry stocks.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) since retracing all the way back towards the RM 2.70 major support levels, was able to hold above its support and recover back quite well over the past 2 weeks here, breaking out towards the RM 2.90+ regions with good volume today.

So far seems quite ripe for a potential uptrend continuation pattern here. As long as able to hold above its RM 2.85+ immediate support levels, could continue on towards and beyond the RM 3 - RM 3.20+ major resistance levels soon.

Will be monitoring HARTA closely here.

News related to $HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)
https://cutt.ly/2eURS2kO

Titan Weekend Chart Reviews

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)

Since hitting its limit up price, it took a little hit and retraced back towards the RM 3+ main support levels and was able to swiftly rebound from there.

So far seems to have formed its higher low regions during last week already and if able to sustain above its RM 3.05 support, could continue on towards and beyond the RM 3.20+ regions soon for an uptrend continuation pattern.

Support: RM 3.10, RM 3.02 areas
Resistance: RM 3.15, RM 3.20 areas

Titan Trading Notes For Thursday [19/9/2024]

$KLCI retraced briefly back towards the 1660 points region with an overall mixed market sentiment as we still saw over 520 counters closing red for the day. Daily trading volume remains relatively low around the 2.2 billion mark as we closed for the day.

Main stocks that showed strong buying momentum would be the likes of MYEG, CEB, JSB, AGX, DNEX, THETA, GENETEC, and EKOVEST. All of which were able to sustain their rallies throughout the day on the top volumes list.

$MYEG / 0138 (MY E.G. SERVICES BERHAD) was quite interesting today as it managed to breakout all the way towards the RM 1+ regions here with huge volume and buying momentum earlier in the morning.

That said, it was met with fierce selling pressure which saw the stock closing back towards the RM 0.955 regions. For now still not looking too bad here and as long as able to sustain above its RM 0.935+ immediate support, could continue on an uptrend here still.

Will be monitoring MYEG closely here.

$AGX / 0299 (AGX GROUP BERHAD) since retracing back towards the RM 0.415+ major support levels over the past month, had been able to form a solid base and had been rebounding strong since then.

Today, it was even able to breakout towards the RM 0.57 regions with huge volume and buying momentum. This is a strong sign that it's ripe for an uptrend continuation pattern already.

As long as able to sustain above its RM 0.52+ support, could continue on towards and beyond the RM 0.60 all time high levels soon. Will be monitoring AGX closely.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) although retraced all the way back towards the RM 3+ main support levels this morning, had been able to hold well above this support region and rebound back towards the RM 3.11 regions to close for the day.

For now still looking not too bad here and as long as able to sustain above its RM 3+ immediate support levels, could continue on towards and beyond the RM 3.20 major resistance levels soon for an uptrend continuation pattern.

$TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) $HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) $SUPERMX / 7106 (SUPERMAX CORPORATION BERHAD) $COMFORT / 2127 (COMFORT GLOVES BERHAD) $HLT / 0188 (HLT GLOBAL BERHAD)

Titan Trading Notes For Wednesday [18/9/2024]:

$KLCI had a good breakout back towards the 1664 points regions with an overall positive market sentiment today after the past few weeks of selling down. Daily trading volume settled around the 3.1 billion mark, which is still average.

Main stocks that showed strong buying momentum today would be the likes of TOPGLOV, SUPERMX, CAREPLS, KOSSAN, HARTA, MYEG, CIMB, WCT, IHH, MALAKOF, and MRCB. All of which were able to sustain their rallies throughout the day on the top volumes list.

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) was definitely the star performer today after hitting its limit up price at RM 3.14. This came after the US government increasing its tariffs on Chinese goods. As such, glove manufacturers from Malaysia that has exposure in the US will benefit greatly from this.

For now looking quite strong here and as long as able to sustain above its RM 2.90 immediate support levels on the daily chart, could continue on a major trend reversal and start trending upwards to the RM 3.50+ levels soon.

Will be monitoring HARTA closely as they have the highest exposure in US among other glove companies.

$HTPADU / 5028 (HEITECH PADU BERHAD) on the other hand also hit its limit up price of RM 2.99, definitely another star player here after announcement of its contract from JPJ with a value of over RM 120 million.

Even after it hit limit up price, the company's market share capitalization is standing at around RM 330 million. As long as it's able to sustain above its RM 2.63 immediate support, could continue on towards and beyond its RM 3.10+ regions soon.

Will be monitoring HTPADU closely here.

$WCT / 9679 (WCT HOLDINGS BERHAD) on the other hand after retracing all the way back towards the RM 0.91+ major support levels over the past 2 weeks, had been able to form a stable base there and breakout from its RM 1.03 main downtrend resistance today.

For now looking very strong for an uptrend continuation pattern here as long as able to sustain above its RM 1+ regions, could continue on towards and beyond the RM 1.16+ regions soon.

Will be monitoring WCT closely

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD)

Appreciate your time, effort and generosity to compile and share so many data points to this one post.

... and showing the perspective of how big EPF AUM is... RM1.19 trillion (based on March 2024) 😅 EPF dumping always reminds me of $HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) 's massive plunge back then...

glove another wind to gogogo? monkeypox spread in singapore and indonesia already
malaysia sure kena soon

https://cutt.ly/iebzOoZh

this morning most gap up 5% d
$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) $TOPGLOV / 7113 (TOP GLOVE CORPORATION BHD) $KOSSAN / 7153 (KOSSAN RUBBER INDUSTRIES BERHAD) $SUPERMX / 7106 (SUPERMAX CORPORATION BERHAD)

$HARTA / 5168 (HARTALEGA HOLDINGS BERHAD) 1QFY25
Hartalega reported a significant improvement in its 1QFY25 financial performance, with core PATMI reaching RM44.6 million, a stark contrast to the RM11.9 million loss recorded in 1QFY24. This result was 21% within internal expectations and 23% above consensus forecasts.

Looking ahead, Hartalega is expected to deliver relatively flat performance in 2QFY25, partly due to potential impacts from currency fluctuations between the ringgit and the US dollar. However, stronger earnings are anticipated in the subsequent quarters, fueled by ongoing inventory replenishment, possible trade diversion from the US to Malaysia due to regulatory changes, a lower cost base following the decommissioning of the Bestari Jaya plant, and the commissioning of new production lines at the NGC1.5 facility.

The global glove market is forecasted to reach equilibrium by 2025, with Hartalega targeting an increase in production to 2.2 billion pieces per month in 2QFY25. To manage rising input costs, particularly NBR prices, the company plans to marginally increase ASP. However, the strengthening of the ringgit against the US dollar may pressure profit margins.