GLOVE MAKER RAMPAGE EXPANSION WILL BOOST KSSC (5192) K. SENG SENG CORP BHD SHARE PRICE HIGHER
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Glove maker all over the world are having
a big problem now, which is to deliver all the pending order as soon as
possible. However, due to demand exceeding supply, the ordering waiting
list can be as long as 18 months. This can continue to put pressure on
pricing escalation, but it will also be a sweet tooth for glove player
to expand in a more generous manner.
According to the news featuring the TOP 4
glove companies in the world, all of them had wasted no time to
purchase land and start the expansion plan.
SUPERMAX - Buy Klang land to expand production
KOSSAN - Buy factory from CBIP for RM 40 million
And KOSSAN also sell land at Kuala Langat for RM 153 million to fund glove expansion at Bidor, Perak
Hartalega - Buy 95.1 acre land at Kuala Langat for RM 263.1 million
TopGlove - 21% growth and expansion plan
TopGlove allocate RM 600million for expansion plan in 2020
All glove company are in crazy expansion
mode now, they are buying land at high speed, and factory need to be set
up within 1 year. All this point to very positive growth to GLOVE
SUPPLIER.
HLT had took the prime bite on the
growth, it is time for KSSC (via KSG ENGINEERING SDN BHD) to catch up on
all the missing bites)
Now at 79 cents, KSSC is just a meager RM 75 million market cap.
If KSSC can go
RM 1 - KSSC is worth RM 96 million
RM 2 - KSSC is worth RM 192 million
RM 3 - KSSC is worth RM 288 million
RM 4 - KSSC is worth RM 384 million
Based on a simple voting result, 35% are optimistic on KSSC heading towards RM 2.65
However, do not that this polling result is not and should not be treated as a reference or guide to buy or sell.
All this are purely for your informational purposes that are happening on the glove industry.
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