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to post RM1bil net profit in one quarter, propelled by rising glove prices amid robust demand for the protective gear. The Group’s revenue and profit after tax in the three-month ended Dec 31 expanded by 47.8% and 32.9% respectively from the immediate preceding quarter, as new Covid-19 cases around the world continued to climb. "The Average Selling Prices (ASPs) are continuing to trend upwards and the highest ASPs have not been reflected in this current quarter," it said in a statement today. "We are optimistic that our original brand manufacturing (OBM) cum Distribution Business Model wil...

The manic ride in GameStop Corp. sparked by American amateur traders on Reddit has inspired some Malaysians to form a similar group targeting shares of glove makers — one of Asia’s hottest pandemic trades in 2020. The online community by the name of Bursabets was created on Thursday and is already boasting more than 4,800 members. The moderators of the group have defined it as the “Malaysian version” of Reddit’s WallStreetBets forum, to discuss stocks listed on Bursa Malaysia. The discussions so far have centered on glove makers and calls to rally against institutional investors who...

Shares of Top Glove Corp jumped as much as 15 per cent on Friday, the most since Sept 11. - Reuters KUALA LUMPUR (Bloomberg): The manic ride in GameStop sparked by American amateur traders on Reddit has inspired some Malaysians to form a similar group targeting shares of glove makers -- one of Asia's hottest pandemic trades in 2020. The online community by the name of Bursabets was created on Thursday (Jan 28) and is already boasting more than 4,800 members. The moderators of the group have defined it as the "Malaysian version" of Reddit's WallStreetBets forum, to discuss stocks listed on Bur...

The Straits Times Asian Insider brings you insights into a fast-changing region from our network of correspondents and commentators. https://str.sg/JKEG They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. including the ST News Tablet worth $398. Let's go! Spin the wheel for ST Read an...

(Advisory: Readers may find language reference offensive in paragraph six) KUALA LUMPUR, Jan 28 (Reuters) - Malaysian retail investors are looking to buy stocks of medical glove makers to drive up their share prices and squeeze out short sellers, drawing inspiration from the recent rally at U.S. firm GameStop Corp . Shares of GameStop have surged 1,700% in just two weeks as amateur U.S. investors piled in and forced hedge funds to lose billions on their short positions. The WallStreetBets forum on Reddit, where small investors discuss stocks anonymously, is seen as having fuelled the GameStop...