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Author: swimwithsharkss   |   Latest post: Mon, 19 Jul 2021, 5:00 PM

 

IMPORTANT FACT YOU MUST KNOW ABOUT TOP GLOVE

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IMPORTANT FACT YOU MUST KNOW ABOUT TOP GLOVE

 

The recent surge of TOPGLOV (KLSE:7113) ADR’s share price had once again spiked Malaysian investors’ interest in the largest glove maker in the world. Coupled with the good news, TOPGLOV had also received CBP clearance from the US.

 

 

 

But what comes after the surge of the share price? Would they encounter another problem, for example ESG compliance?

 

Predicting a possibility of being “penalized” by US, the company had prepared several initiatives to enhance the ESG strength of the company. But something is even more interesting that is stated in the press release, yet no one is observing. Please refer to the excerpt of their latest press release statement.

 

 

Info Source: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3165085

 

With TOPGLOV RM7.1 billion net profit in 9MFY2021, it is very reasonable for the company to utilize the cash for something more beneficial for the outlook of the company apart from doing share buybacks. That is, investing in solar energy.

 

We understood that despite that are a few listed solar players in our market, but there is only 2 players with the ability to develop and operate the solar farm. There 2 companies are namely CYPARK (KLSE:5184) and the recent solar energy star – PEB (KLSE:5622) via reNIKOLA.

 

I had a very deep and long thought about the possibility of which of them would be the potential partner of TOPGLOV, then suddenly, I remembered something very important.

 

Normally solar farm operators would sign a PPA with TNB in order to supply them with a consistent stream of energy. But based on the latest slides of PEB/reNIKOLA, did you notice the potential party for PEB/reNIKOLA is somewhat other than TNB?

 

 

 

With TOPGLOV’s announcement of them partnering with a renewable energy developer, don’t you think that all these stars aligned too “coincidently”?

 

I believe that PEB’s share price is still under the collection phase of operator, hence the refusal of TOPGLOV to mention their name. There might be due announcement in the future... who knows?

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Labels: TOPGLOV

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