5 stories mentioning KLSE:TOPGLOV
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Kumpulan Wang Persaraan (KWP), a Malaysian government pension fund, increased its stake in Top Glove (SGX:BVA, KLSE:TOPGLOV) to 6.535%, through the acquisition of around 1.6 million shares in the company.KWP has a 5.521% direct stake in the dual-listed company, according to a Thursday filing with the Singapore Exchange.
Malaysian shares extended gains on Monday, as investors reacted to renewed optimism over a possible de-escalation in hostilities between the US and Iran, and the second phase of peace talks in Islamabad.The FTSE Bursa Malaysia KLCI gained 7.09 points to end 0.4% higher at 1,702.30. The day range was between 1,689.00 and 1,703.64.In economic news, Malaysia's total trade in goods rose 9.3% annually to 273 billion ringgit in March, driven by growth in both exports and imports, according to data released by the Department of Statistics Malaysia. Exports increased 8.3% year on year to 148.8 billion ringgit, while imports rose 10.4% to 124.2 billion ringgit. As a result, the trade surplus stood at 24.6 billion ringgit, slightly lower by 215.5 million ringgit compared with a year earlier.In local news, Malaysia's rubber glove industry is facing rising cost pressure as the US-Iran conflict drives up prices of oil-linked raw materials used in production, the Nikkei Asian Review reported. Major producers such as Top Glove (KLSE:TOPGLOV) and Hartalega (KLSE:HARTA) have been able to raise selling prices to offset higher input costs, while demand remains broadly stable.In corporate news, shares of MN (KLSE:MNHLDG) rose 5% on Monday's close after its unit MN Utilities Engineering accepted a purchase order worth 275.9 million ringgit for a data center infrastructure project in Malaysia.
Malaysia's rubber glove industry is facing rising cost pressure as the US-Iran conflict drives up prices of oil-linked raw materials used in production, the Nikkei Asian Review reported Monday.The country, which accounts for about 45% of global glove supply, is seeing a widening gap between large and small manufacturers. Major producers such as Top Glove (KLSE:TOPGLOV) and Hartalega (KLSE:HARTA) have been able to raise selling prices to offset higher input costs, while demand remains broadly stable, according to the report.Industry costs have surged, with key materials like nitrile latex seeing sharp increases due to higher crude-linked input prices. However, smaller players are struggling to absorb the cost pressure, with some already exiting the market amid financial strain and supply disruptions, the Nikkei said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Top Glove (SGX:BVA, KLSE:TOPGLOV) issued 500 new ordinary shares worth SG$0.40 apiece, arising from the exercise of warrants, according to a Tuesday Singapore Exchange filing.The issued shares will be listed on April 15, the filing said.
Top Glove (KLSE:TOPGLOV, SGX:BVA) has an average rating of hold and mean price target of 0.66 ringgit, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)