[ad_1]
KUALA LUMPUR (Dec 16): WhatsApp’s handshake and thumbs up emojis, as well as another with both hands firmly together, meaning thank you, may have encapsulated the founder and main shareholder of Supermax Corp Bhd, Datuk Seri Stanley Thai Kim Sim on the importance of the company’s inclusion in the 30-share FBM KLCI for the first time.
Thai, in response to theedgemarkets.com request for a founder listing prior to Supermax’s first operation as a component of KLCI next Monday (December 21), however, did not appear to be speechless when contacted.
However, he declined to elaborate.
The listing of Supermax on the KLCI means that the company will join rival glove makers Top Glove Corp Bhd and Hartalega Holdings Bhd, which were previously listed on the KLCI following the recent increase in the share price of glove makers from rubber.
Glove manufacturers’ respective market capitalization has risen along with their share price, as the global Covid-19 pandemic raised expectations of increased demand for rubber gloves to curb the outbreak, providing a better prospect of earnings for these companies.
For the first quarter ending September 30, 2020 (1TFY21), Supermax’s net profit jumped to RM789.52 million from RM24.75 million the previous year.
Revenue increased to RM1.35 billion from RM369.94 million, according to Supermax’s filing with Bursa Malaysia on October 27.
On December 3, FTSE Russell and Bursa announced that Supermax had been added to the KLCI following the semi-annual review of the FBM Index Series that day.
As a result, real estate company KLCCP Stapled Group will be removed from KLCI, FTSE Russell and Bursa said in a statement.
“The series of indices is revised semi-annually in accordance with the basic rules of the index.
“All constituent changes will go into effect at the start of operations on Monday, December 21, with the next review taking place in June 2021,” said FTSE Russell and Bursa.
Coincidentally, on December 3, Supermax said in filings with Bursa that Thai and his wife Datin Seri Cheryl Tan Bee Geok transferred 982.69 million collective shares of Supermax that day to Supermax Holdings Sdn Bhd, a company controlled by Thai and Tan. .
Supermax said the 982.69 million shares represent a 38.26% stake in Supermax.
At Bursa’s 12.30pm break today, Supermax’s share price rose 31 sen or 4.57% to RM7.10, with a market capitalization of approximately RM18.46 billion.
The stock saw some 19 million shares traded.
According to the Supermax website, Thai and Tan jointly founded the company in 1987 as a trading company that distributed latex gloves.
“Their humble beginnings eventually led to their dream of producing their own premium gloves. This motivated them to work hard, and in 1989, they started their first manufacturing plant with only a small team of committed and dedicated employees,” the company said. . .
[ad_2]
