Hartalega Q&A

纪录下来，以后再来对照看看管理层说的是否可靠 :-)

Hartalega: Not impacted by rising natural rubber cost
Q&A with Hartalega executive director Kuan Mun Keng

TEFD: On concerns over rising rubber costs and whether there is a drop in demand for rubber gloves.
Kuan: The fact remains that price of rubber is indeed volatile. Customers are well aware of this, and as such, the industry is able to pass on the costs to the customers.

Fortunately, Hartalega is primarily focused on nitrile gloves. Hence we are not largely affected by the impact of rising natural rubber costs.

As a matter of fact, the switch by customers, particularly in the acute healthcare sector from natural rubber to nitrile gloves, is ever more evident.

This is due to nitrile gloves being well accepted by our customers due to their high quality and competitive pricing. The trend is expected to continue because of the higher pricing of natural rubber gloves compared to nitrile gloves.

TEFD: Has there been an easing in orders from the US?
Kuan: Not at all. Given the switch from natural rubber to nitrile gloves, US orders have grown exponentially.

TEFD: Are the China and developing world markets still growing?
Kuan: China is most definitely a potential market. However, as China undergoes its healthcare reform, there will still be some lag time before China becomes a primary market for glove manufacturers.

TEFD: Has the company been expanding production capacity?
Kuan: Most certainly. Our expansion plans, particularly in the form of our fifth plant, is well underway. By the end of 2010, 10 new high-capacity lines will be up and running.

Additionally, we will also be investing in the refurbishment of our existing lines in Plant 1 by the fiscal year 2011. Upon completion, this is expected to boost our production capacity to 9.5 billion pieces a year by financial year ending March 31, 2012.

TEFD: How will the company manage the excess capacity if demand falls?
Kuan: Hartalega is the most efficient glove producer in the sector as its patented proprietary technology bodes well in terms of productivity.

As such, our on-going improvement and development of our technology have enhanced our competitive advantages for greater margins and profitability.

However, even if the demand for gloves does fall, it would only be short-lived as the healthcare sector in emerging markets are constantly switching from natural rubber to nitrile gloves.

As Malaysia’s largest nitrile gloves producer, we are in a better position to address the weakening of the US dollar (USD) and the looming excess capacity from natural rubber.

Already, we are winning market share over natural rubber. Moreover, nitrile material cost is USD-based, therefore the weakening USD is an advantage as we do not need to increase the price.

theedgedaily 12/8/10

*明天再加码！

再战贺特加

自从卖出后，都一直还留意 Hartalega 的整体表现。
无论业绩或股价，Hartalega 还是保持着很好表现。
趁着红股还没派发前，决定下星期从新投入，再战贺特加！

转载 - ASTINO

这一颗珍珠，由论坛一位仁兄 （应该是内行人）极力推荐。可是，相信人气不及某些被热捧的前辈，所以好贴好股，最终还是石沉大海。我就检个现成的，直接用他详细的功课来做个纪录。






会看上Astino的原因主要:
1. 便宜.简单.容易.必需品.
2. 管理层在次货表现很好.
3. 有不錯的股息记彔.债务減少良好.
4. 掌控awning市场的60%以上.
5. 业務持继成長.
6. 有CSC做后盾.
7. 零售市场做得很成功,成本转价能力強.

今天,the Accounts & Finance Manager of the Company, Ms Chua Phaik See, has on 21st July 2010 disposed off 10,000 ordinary shares of RM0.50 each at RM0.68 each. The balance of shareholdings after disposal is 73,200 ordinary shares of RM0.50 each.
Dated this 22nd day of July 2010.

我的看法是,ESOS即就要过期,管理层忍不住开始把握这最后的机会,在股息除息前,和过期前开始分批出货.价格在62分以上就会出手了.
我相信过了这段期间股价就可以持穩,估计全年EPS 20sen, 67分的价格, nothing to be loss.

金钱只是一种观念 （三）- 完结篇

从第一和第二篇中，不难发现，富爸一直强调的是 “现金流”。

简单来说，富人和一般人在处理现金流唯一不同的地方，是一个买负债，一个买资产；也就是所谓的 “富人增加资产，穷人增加负债”。

富爸有始至终坚持 “正现金流” 的投资方案。 - “I invest for Cash Flow”

不论是打工一族，还是做生意，每月都应该坚持 “正现金流“。再善用多出来的现金流，增加能够持续带来被动收入 (passive income) 的投资。这样，长期累积下来，总有一天，这个被动收入足够支付你每月的支出时，也就是你成功跳出中产阶级的老鼠圈的日子了。不再为五斗米折腰；天天都是星期天！

当然，在这完结篇里，富爸还提到一点，就是 “低收入，高支出”。

这个方案主要是当企业不断创造出净现金流时，为避免税收的开支，而持续地投资。全世界大多数国家的税收政策都一样，属于比较维护企业和投资者；对个人是比较吃亏的。

简的来说，企业是 “先花费，后缴税”；个人则是 “先缴税，后花费”。

理由很简单，政府都尽量鼓励企业投资。因为投资可以创造就业机会，所以往往都享有很多的优惠。如果企业赚了很多钱，却不投资，那么这一大笔的钱将被征收很高的税务。与其给政府，倒不如用来增加资产，提高股东价值。

还有一个最大的好处是，可以把很多私人用途的消费，合法地转入公司用途。结果，就能达到 “先花费，后缴税”，从中省下大笔的税务优惠。

难怪富爸说：“我也买不起这昂贵的地段，但我的企业能。”

我的高收入同事也时常对我说：“你不要看我月入过万，但最终我拿到手的数目，其实相对很少。” （当然，那个少，对我来说还是多啦！）

长期够买资产的目的，就是为了提高往后的免税收入而努力；更何况，我们身处在这样的国度！

谈理财 = $$$ FACE?

有时候, 我觉得成绩越优秀的朋友, 在工作 VS 创业; 理财 VS $$ FACE 方面有很大的误差.
或许是工作收入丰厚, 给了他们很大程度的安全感, 所以, 股票, 投资, 对他们来说都是高风险. 间接地, 如果和他们提起复利, 理财, 他们就会觉得你是 $$$ FACE. 样样向钱看. 真的很奇怪.

可是, 这些我认识的他们, 还是在老鼠圈. (虽然我也是还没跳出来).

我曾经好心做坏事过, 这次, 还是不要鸡婆, 点到就好. 要不要, 不在于我,跟我也没利益关系.

有感而发, 胡言乱语...