Hartalega Holdings Berhad is the largest nitrile glove manufacturer in the world that can produce up to 39.3 billion pieces of gloves annually. Since it was listed on Bursa Malaysia in 2008, its share price has rallied more than 100 times from RM0.16 to above RM18 as of October 2020. Throughout the years, the company has benefited from increasing healthcare standards and greying populations in parts of the world, increasing the demand for glove consumption. This year alone, Hartalega’s share price has grown threefold because of COVID-19. Is the rally sustainable? Can Hartalega still maintain its stellar growth as it did in the past? Here are eight things I learned from the 2020 Hartalega AGM. 1. Hartalega recorded revenue of RM2.9 billion in FY2020, a 3.4% y-o-y increase. But its net profit excluding other income decreased 4.5% to RM421.6 million y-o-y mainly due higher tax expenses. FY2020 did not capture

Advertisements