[KOSSAN RUBBER INDUSTRIES BHD，Plant 17和18的建设工程正在进行中，额外产能预计将在完成后每年增加340亿件手套的额外产量]
YoY，手套产品的需求持续强劲，本季度销量（+ 2.7％）较去年上一季度增加，其所有生产线均满负荷生产，除了在2017年12月已开始调试的最新Plant 16 ，一直面临手套成型机的一些问题。
按季度计算，收入增长1.34％至4.8418亿令吉，而上一季度为4.7777亿令吉，而PBT则从5,899万令吉下调10.11％至5303万令吉。在持续的基础上，手套部门的收入从2017年第4季度的4.1429亿令吉增加了1.21％至4亿1931万令吉。手套产品需求继续保持旺盛，本季度销售量（+ 3.4％）较上一季度增加，其所有生产线均满负荷生产，但最新的Plant 16已于2017年12月开始试运行，手套成型机面临一些问题。
TRPs部门本季度收入为4358万令吉，较4Q17录得的4,219万令吉增加3.29％，而PBT则为504万令吉，而前一季度则为442万令吉，季度环比增长14.05％。表现较好的主要原因是销售额增加。洁净室部门从2017年第4季度的2,023万令吉收入提高到2,037万令吉，而PBT则从前一季度的64万令吉跌到42万令吉。
前景：
对集团手套产品的需求继续强劲。集团最新的Plant 16是一家专注于丁腈手套生产的模型工厂，采用高速和高度自动化技术，减少对手工劳动的依赖。影响Plant 16的手套成型问题已经解决，所有生产线将于2018年7月开始运行。
Plant 17和18的建设工程正在进行中，预计分别于2018年第3季度和2019年第1季度完成。这两个新工厂一旦完成就能够每年生产多达45亿件丁腈手套。为进一步向前推进，高产柅品于2018年3月以8,240万令吉收购霹雳州Bidor（824英亩）的土地，旨在满足他们在中期和更长期时间内在中部地点（即集成手套制造设施）的扩张。高产柅品预计扩张需要六至八年才能完成，并且将逐步投产的额外产能预计将在完成后每年增加340亿件手套的额外产量。土地的地点具有良好的战略连通性以及可用的公用事业（天然气，电力和水）和当地人力资源将有助于集团的扩张计划。
对于集团的技术橡胶产品，2018年将具有挑战性并受橡胶价格波动的影响，高产柅品认为该部门稳定且对业绩持乐观态度。随着集团的扩张计划和持续强劲的手套需求，加上他们正在进行的转型计划和运营效率的提高，管理层对2018财年的表现持乐观态度。
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我希望将我的策略分享给读者，希望他们在阅读后能够表现出色。我正在使用基本面分析（Fundamental Analysis）：
预计公司每年的增长率必须> 14％
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James Ng
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YoY, the demand for glove products continues to be strong with higher volume sold (+2.7%) during the quarter as compared to the immediate preceding quarter, with all their production lines running at full capacity, except the latest Plant 16 which had started commissioning in December 2017, had been facing some issues with glove formers.
On a quarter-on-quarter basis, revenue was up 1.34% to RM484.18 million as compared with RM 477.77 million in the immediate preceding quarter, while PBT was lower by 10.11% to RM 53.03 million from RM58.99 million. On a sequential basis, the Gloves division recorded an increase in revenues of 1.21% to RM419.31 million from RM414.29 million in 4Q17. The demand for glove products continues to be strong with higher volume sold (+3.4%) during the quarter as compared to the immediate preceding quarter, with all their production lines running at full capacity, except the latest Plant 16 which had started commissioning in December 2017, had been facing some issues with glove formers.
The TRPs division recorded revenues of RM43.58 million in the current quarter, an increase of 3.29% compared with the RM42.19 million recorded in 4Q17, while PBT came in at RM5.04 million compared with RM4.42 million in the immediate preceding quarter, an increase of 14.05% quarter-on-quarter. The better performance was mainly attributable to higher sales deliveries. The Cleanroom division recorded revenues of RM20.37 million from RM20.23 million in 4Q17, while PBT was RM0.42 million from RM0.64 million in the immediate preceding quarter.
Prospects:
The demand for the Group’s glove products continues to be strong. The Group’s latest Plant 16, which is a model plant that will focus on the production of nitrile gloves, utilises high-speed dipping technology with a high degree of automation to reduce dependence on manual labour. The glove former issue that had affected Plant 16 has been resolved with all lines to be running by July 2018.
Construction works for Plant 17 and 18 are on-track and expected to be completed by the 3rd quarter of 2018 and 1st quarter of 2019 respectively. These 2 new plants would be capable of producing up to 4.5 billion pieces of nitrile gloves per annum once completed. Moving further forward, the Group’s purchase of the piece land in Bidor, Perak (824 acres) for RM82.4 million in March 2018 is intended to accommodate their expansion in a centralized location (i.e. an integrated glove manufacturing facility) over the medium and longer term. The Group expects the expansion to take six to eight years to complete and the additional capacity which will come on-stream progressively, is projected to add a total additional output of 34 billion pieces of gloves per annum when completed. The land’s strategic location with excellent connectivity and available sources of utilities (natural gas, electricity and water) and local manpower will facilitate the Group’s expansion programme.
For the Group’s Technical Rubber Products, the year 2018 will be challenging and subject to rubber price fluctuations, the Group views this division as stable and is optimistic of the performance. With the Group’s expansion plans and continued strong demand for gloves, coupled with their ongoing transformation program and improvements in operating efficiency, Management is optimistic of the performance for FY2018.
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I wish to share my strategy to readers, hope that they can perform well after reading this. I am using Fundamental Analysis:
the forecasted growth of a company must > 14% per year
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Final decision is always yours, thank you.
James Ng
https://www.facebook.com/jamesshareinvest/posts/2066912693575474
