️Macro Alpha Analytics🫆

Crowne Plaza Penang Straits City opens, kicks off RM4.3b master development in Butterworth https://theedgemalaysia.com/node/744826

What Malaysian can expect ▶️ Cut ✂️ RON95 Subsidy Cut ✂️ Education Subsidy Cut ✂️ Diesel Subsidy Increase 🔼 Electricity Tariff Increase 🔼 SST on non essential imported items Increase 🔼 Minimum wages Increase 🔼 floor price of paddy

为何说在马股投资危机四伏❓❓ ▶️ 买大怕被庄家洗 ▶️ 买大卖时没有买家/ Liquidity ▶️ 分析员/基金经理/内幕都是第一手消息，就算今天 #HARTA 暴跌，散户们都是第二手/第三手消息的，多半都是后知后觉 ▶️ 担心业绩炸弹 ▶️ 马股资金有限，一些小型股都是靠“操作”拉高股价 ▶️ #YBS 和2024年 一月 Limit Down 事件 🚨 我们不知老板在外面借用多少 Warehouse 或 Remisier 的 Limit ▶️ 美股随便一只大股的成交量都大过整个马股的成交量了，不必担心没有 Liquidity 的问题

马股最新消息 ⭐️ 散户巨亏 交易员巨亏 基金经理巨亏（一些基金 YTD 已经 ➖了） 搏杀最终何去何从 ❓ 🤦‍♀ 远离马股，回头是岸 👣

一根蜡烛直接打破股价六个月上涨趋势，一切回到原地。

#TOPGLOVE -WA

#ASIAPLY

🙈🙈🙈

🚨🆘❌♨️ Sell Down In Gloves #HARTA 🔻-16.2% #KOSSAN 🔻-15.7% #TOPGLOVE 🔻9.5% #TOPGLOVE-WA🔻-14.30% #SUPERMX🔻-8.00%

管理层在企业汇报中的“负面语气”导致股价一度下跌 🔻 q5%

Key Messages from Harta 3QFY25 Briefing🧤 (UOBKH) Surprisingly negative tones from management, causing share prices of glove stocks declining c.15% during the briefing 🚨 *i) Volume sales:* 7.6b in 3QFY25(+12% qoq). There’s delayed shipment of 300m pieces of gloves order due to port congestion issues. This 300m pieces delayed shipment have carried forward to March quarter (4QFY25) and managed to ship out. *- Volume sales📦.* While volume sales c.2.5b pieces throughout Oct-Dec 24, upcoming Jan-March Q will see a *13-19% volume sales decline.* For 4QFY25 (March Quarter), management guided utilisation rate of 70-75% (from current 86%). This worked out to be c.2.1b-2.2b pcs/month vs 3QFY25’s c.2.5b (Dec 24) volume sales. *- Volume sales📦.* Weaker QoQ volume sales mainly due to frontloaded purchase by US clients, causing excess inventories to only be depleted in April-May. Expect normalisation of purchase pattern from US customers only in 2Q25 (calendar year). *ii) Capacity 🏭:* Progressively commissioned new lines in NGC 1.5, and in 3QFY25 running capacity of 37b by end-FY25. Ramp-up costs of this 37b capacity (additional 10 production lines) have been partially factored in 2QFY25 previously, only additional labour cost incurred in 3QFY25. *iii) Utilisation rate 📈:* Utilisation rate +9% qoq to 86% on adjusted capacity of c.35b. *iv) ASP 💹:* QoQ, blended ASP improved c.4% in 3QFY25 to c.US$22.20/1k pcs. Management guided that blended ASP in 4QFY25 (March Q) will likely be flattish, as they are rolling over ASP level and maintain through March-April. *v) Cost💲:* Raw material cost decreased c.5% qoq in 3QFY25, recent months stabilised and easily passed through by higher ASP. Natural gas cost flattish in 3QFY25. *vi) China competition🇨🇳:* Channel checks revealed that China players lowered ASP and selling c.US$15 (previously US$16-17) in Europe regions. *China may look to shift their previous aggregate supply to US of c.30b pieces in phases.* Intco building a plant in Indonesia, at stage of building columns, another China players wanted to invest in Indonesia, some looking at Cambodia, or partnership to expand plant in Vietnam or Thailand. Earliest maybe by mid-2026. *vi) Rationalisation and Rightsizing in Motion🔻.* Harta is intensifying cost rationalisation, previously carrying additional headcounts (plant 8 and 9) in anticipation on turning on these lines and because gov’s foreign workers quota. Previously foreign workers level kept at highest level possible, now looking to establish rational capacity. *Looking to reduce headcount from 8k to 7k within 2 quarters* (sufficient for 2.3b pcs production/month *My two cents and views💡* 🔹 *Not out of the woods yet🪵.* Expect selldown in near-term on seemingly challenging outlook and weak 1Q25 (Jan-March) guidance. Believe such trend will be similar across other domestic glovemakers. 🔸 *Maintain HOLD,* our current TP of RM3.66 is under review. 🔹 *While we’ve consistently highlighted our neutral view as opposed to several bullish peers⚖️,* we advocated investors to take profit since Jan 2025. At this level, we’ll be monitoring closely for entry points instead especially after this selldown. 🔸 *Dont follow the herds🐏.* While 1Q25 earnings may not be great, 2Q25 onwards the restocking activities from US customers will again return, lifting volume sales by c.20-25% off 1Q25’s low base. Look for entry points again when the coast is clear.

#HARTA 股价在业绩出炉后一度重挫近 🔻10%

#SUPERMX 五送一红股 Ex- Date : 24 Feb 25 二十送一免费凭单 Ex - Date : 25 Feb 25

Bursa Malaysia 的数据 ，应该不会错了吧 😆

马斯克AI聊天机器人Grok 3亮相 号称聪明得吓人 https://www.enanyang.my/node/651362

💢We foresee plenty of positive newsflow over the next six months. Partial writebacks of the r-PET and malic acid impairments are possible, as Dialog is working to sell its assets. New tank terminal contracts for Petronas and ChemOne could materialise in 6 months; this may add 20-30% to its tank terminal capacity by CY28F. Ongoing upstream developments may increase its current oil and gas output by >2x over the next 3-5 years. Dialog is planning for the execution of 3-4 plant turnaround jobs scheduled for FY26F, which could accentuate the turnaround from a weak FY25F. 💢We expect the market’s confidence in Dialog to restored, with 3Q profits likely back to its usual run-rate of RM140m-150m. 💢We think that an interim share price target of RM1.80-1.90 is very achievable, 15-20% upside from here. 💢We expect Dialog’s management to put its best foot forward in the months to come, which could really help with market sentiment and restore trust https://rfs.cgsi.com/api/download?file=2305264c-47a8-415f-926d-1bfd8693abad