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boss won't have the financial and focus to do such massive exercise as still having long court case with his ex wife. all their shares and accounts are frozen until the marital court case complete.
The commencement of production at our US plant in Brazoria County, Texas, positions Supermax
to be one of the key beneficiaries of the severe US tariffs on Chinese gloves, directly serving US
buyers who are seeking non-China supply. This promises to be a direct competitive advantage
as our gloves are exempt from all US import tariffs.
Why the need to impair inventories when sales volume increasing ? Is it due to NRV < Cost due to low ASPs ? Once Capital Commitments as stated in the QR fully completed and paid, all the surplus cash will be used up as company yet to be in profitable position after so many quarters :-|
USA production costs and CAPEX are not low in relation to prevailing ASPs for the glove sector. It is not easy to do manufacturing business in the USA unless margins are lucrative.
Daniel, with no tariff for US made gloves and apparently no sea freight shipping cost, the US made gloves may be competitive enough. in addition, there was a proposal to include medical PPE made in the US to be included in the US subsidy list. I recalled it suppose to start in 2026 but seems nobody realized this old announcement back in 2024.
Hopefully and we shall see as they continue to have continuous quarterly losses. Tariff situation still fluid but once US CAPEX fully committed, there goes their exceptional cash buffer generated during the good COVID 19 pandemic years. Hartalega and Kossan still prudent and conserving their huge Cash position. Top Glove frivolous in their past share buy-backs when their share price at ~ RM7 !
