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With 2.7 billion shares, Supermax has a cash reserve of close to RM2 billion; while top glove, with 8+ billion shares, has only a few hundred million cash reserve. Over longer term, all counters will reflect their intrinsic values
Don't bother too much about the lower current price of Supermax; the glove tide is coming in, all boats will float! Top glove moves higher because KWAP is buying and people are following, not necessarily it's a better stock.
At the present rate of price movement, it doesn't seem to be a normal speculation; the price increase is consistent and planned. There are three possibilities: privatisation by the controlling shareholder; merger with another insurance company; take-over by a third party. Let's watch and see the real reason behind the current play-up. Eventually, the truth will emerge!
