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7 things I learned from the 2022 Hartalega AGM
By The Fifth Person  •  September 9, 2022
Hartalega is the world’s second largest manufacturer of gloves and a constituent of the FTSE Bursa Malaysia KLCI index. The company was a massive beneficiary of COVID-19 as global demand for medical gloves shot through the roof in the midst of a pandemic. However, Hartalega now faces the prospect of being booted from the index. Since reaching a peak of RM20.28 in July 2020, Hartalega’s share price has now plummeted by over 90% as the world (and medical glove demand) returns to normalcy. Is Hartalega still a viable investment post-pandemic? Here are the seven things I learned from the 2022 Hartalega AGM. 1. Although Hartalega posted record revenue and profit for FY22, it now faces a collapse in demand and profit moving forward. Net profit fell 96% year-on-year from RM2,262 million in Q1 2022 to just RM91 million in Q1 2023. Hartalega quarterly profit after tax. Source: Hartalega...
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By The Fifth Person
The Fifth Person believes in spreading a message that financial literacy and sound investment knowledge can help people around the world achieve financial independence and lead better lives for themselves and their loved ones.
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