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Monday, January 11, 2010

IRCB

Ladies and gentlemen, I believe you have notice the crazy bullish of rubber glove stocks in the market these few weeks, they are just unstoppable. And CIMB's Terrance and myself are keep emphasizing the positive outlook of these companies and they are just overweight for year 2010.


So guess what, the leader companies like Topglov, Harta and Supermx have went up for quite some days, at least 20-30%, and now it's the turn for laggards to go up. Since the laggards price are very low, the gain percentage is amazing. Just look at Ruberex-wa, it went up almost close to 100% since New Year eve. Adventa was last 2 weeks back. These few days are Latexx and IRCB turn.

You must be wonder what the heck is IRCB. In fact, I got to know about this company when my broker friend told me to pay attention to it. From the day she told me, it stayed at about 73 cents. Even though I agreed with her opinion that these laggards will definitely go up under the same positive outlook industry, adding the positive entry point from technical analysis, I refused to go in after some thoughts, due to the followings:

1) I don't invest any share less than RM1 for now. They are just too lousy and have problems, as potential growth stocks should have a long bullish since March last year. And share below RM1 can easily trigger my stop loss.
2) I don't like it's annual report and financial result for last year.
3) I don't like it's management.

It is really tempting me these few days, but I just have to stick to my rules and be discipline. And guess what, it is finally exploded today, with 42% changed at RM1.34.

So do I regret? No, I don't. I always believe chances will still be there, once I'm getting more expert in the near future.



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4 comments:

  • zay said...
     

    bull shit.. u dun even try to understand the nature of the business and the evaluation on each quarter, the financial report is getting more healthy quarterly. Don't bullshit ur comment as i think u are lousy.

  • Vincent Lee said...
     

    Thanks for your comment. In fact, I entered Latexx after the JV was on, I guess I have pretty profit by now. So why I bother about it?

  • zay said...
     

    Mate, I am not intend to bother u at all. Indeed i would apologise from the previous straight forward message. Well, IRCB, Latexx, i would think do not pay so much attention on it.And i would like to draw ur attention on the following company which i think is not quite actively be promoted. Therefore the share price is fairly cheap compared to others. Please go to singapore exchange, malaysia based company called Riverstone Holdings (AP4 , S$0.635 settlement price). The factories are held in Kepong and Bukit Beruntung.The profit of the quarterly are good. The full year result will be announced in coming month, around 20th Feb 2010. By that time i think the share price will be double easily. Please make ur own research on this company financial statement accordingly.

    What i could provide here is just the following message on last quarter result. Please take it as my apology on the previous message being straight forward. And be cheered up after u have reading the annual report 2008 and u could forsee the 2009 annual report results. Good lucks.

    Riverstone Holdings, the Malaysia-based manufacturer of rubber gloves, says 3Q2009 net profit rose 37.2% to RM9.9 million ($4 million) respectively compared to 3Q2008.

    This was achieved on the back of revenue which increased by 15.1% from RM38.9 million in 3Q2008 to RM44.8 million in 3Q2009 mainly due to higher demand for the group’s products from customers in the semiconductor and healthcare gloves industries.

    Riverstone says the group’s gross profit rose 22.2% from RM12.8 million in 3Q2008 to RM15.7 million in 3Q2009. Gross profit margin increased from 33% in 3Q2008 to 35% in 3Q2009 mainly due to improvement in production and productivity.

    The group’s other income reduced from RM0.3 million in 3Q2008 to RM0.2 million in 3Q2009 due to lower interest income.

    Selling and distribution expenses decreased by RM0.1million or 8.1% from RM1.4 million to RM1.3 million in 3Q2009. This was due mainly to lower handling and forwarding expenses.

  • Vincent Lee said...
     

    Thanks for the recommendation and explanation. In fact, it is okay that we exchange trading opinion, no right or wrong okay. So I'm sorry if my post offense your trading share.
    Even though I haven't start to trade Singapore Exchange, I'll look into it.
    Happy trading!

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