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Latest Forum Topics / Sri Trang Agro    Last:0.71    +0.005  Post Reply
Glove counter with more than 261 pc upside!
guards80
Supreme
14-Aug-2020 15:41     
 
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 Alert Admin 		26.75

Careful2020      ( Date: 14-Aug-2020 15:40) Posted:

Bro Guards80, where can I see the STA Thailand price? Thanks.

guards80      ( Date: 14-Aug-2020 15:27) Posted:

Later thailand STA matching 27.75?
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Careful2020
Senior
14-Aug-2020 15:40     
 
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 Alert Admin 		Bro Guards80, where can I see the STA Thailand price? Thanks.

guards80      ( Date: 14-Aug-2020 15:27) Posted:

Later thailand STA matching 27.75?
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guards80
Supreme
14-Aug-2020 15:27     
 
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 Alert Admin 		Later thailand STA matching 27.75?
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hantanbl
Senior
14-Aug-2020 15:20     
 
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 Alert Admin 		thanks for re-posting this. Will Sri dance to moon liao
Thai side still lunch at the moment. Hopefully their side will up also before end of day

Longtermer      ( Date: 14-Aug-2020 15:17) Posted:


Just for those who did not read this report, repost for your understanding..
At $1.25 now, the counter has much room to move up.
Results tonight will confirm the valuation.. Hold tight.

---
SRI TRANG AGRO:
Target price raised to 71 baht (S$3.14) by Citi Research

A sharp correction happened to the stock prices of glove manufacturers in the last few days on Russian vaccine news. But a long Citi research report (62 pages, no less!) on the industry and its top players, published on 11 Aug, raised earnings forecasts and target prices for Asean glove makers.
" Even with a vaccine, a structural step-up in gloves usage is on the cards as the pandemic may well accelerate the narrowing of the gap between EM (emerging markets) and DM (developed markets) gloves consumption."

Considering continued surging demand versus planned capacity increases in the industry, Citi argued that average selling prices of gloves would continue to rise till 1Q CY21, before levelling off/normalizing.

" The emergence of spot orders (2-3x higher ASPs) is also pushing up blended ASPs the impact on earnings and margins when costs are flattish/declining is being underappreciated by the Street, in our view."
On the Singapore Exchange, the glove stocks are Riverstone, UG Healthcare and Top Glove. And there is Sri Trang Agro.
Sri Trang Agro is lesser known among Singapore investors partly because there is no analyst coverage out of Singapore, and it' s not a 100% glove business.
Instead, located in Thailand, its vast business spans the entire natural rubber supply chain from plantations to latex processing to glove manufacturing.

In July 2020, it spun off its glove manufacturing business on the Bangkok Stock Exchange, retaining a 56% interest in Sri Trang Gloves.
Sri Trang Agro, according to the Citi report, is " an inexpensive proxy to the world& rsquo s third largest glove-maker" which has a production capacity of 33 billion gloves a year.
Year-to-date, Sri Trang Agro stock has risen from 44 cents to $1.18 for a market cap of S$1.7 billion.  The stock is also listed on the Bangkok Stock Exchange.

The Citi report authored by Megat Fais, CFA raised its Sum-of-the-Parts target price of Sri Trang Agro to Bt71.00 (from Bt39.80), or the equivalent of S$3.14.  Citi said this is mainly on higher valuation for Sri Trang Agro& rsquo s 56%-owned Sri Trang Gloves after revising higher its ASP assumptions for Sri Trang Gloves. At the Sri Trang Agro level, FY20-22E earnings are raised by 50-136%.

Citi forecasted 4.6 billion baht net profit for 2020 (EPS: 2.99 baht, 13 sgd cents). Next year (2021) is expected to see a huge net profit: 9.3 billion baht (EPS: 6.06 baht, 27 sgd cents). Citi said the bulk of Sri Trang Agro& rsquo s TP is still derived from Sri Trang Gloves.
Citi ascribed a higher holding company discount of 30% (previously: 10%) as the " muted outlook" at the parent company& rsquo s midstream businesses may see investors preferring to take a direct exposure to Sri Trang Gloves.
 

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3dw1nchu4
Veteran
14-Aug-2020 15:20     
 
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 Alert Admin 		But please exercise due caution when buying. Play with what you have. Last thing we want is for panic selling to happen when the shortists come in (eg. Medtecs 13 July)

Contra stay out  smiley

Longtermer      ( Date: 14-Aug-2020 15:17) Posted:


Just for those who did not read this report, repost for your understanding..
At $1.25 now, the counter has much room to move up.
Results tonight will confirm the valuation.. Hold tight.

---
SRI TRANG AGRO:
Target price raised to 71 baht (S$3.14) by Citi Research

A sharp correction happened to the stock prices of glove manufacturers in the last few days on Russian vaccine news. But a long Citi research report (62 pages, no less!) on the industry and its top players, published on 11 Aug, raised earnings forecasts and target prices for Asean glove makers.
" Even with a vaccine, a structural step-up in gloves usage is on the cards as the pandemic may well accelerate the narrowing of the gap between EM (emerging markets) and DM (developed markets) gloves consumption."

Considering continued surging demand versus planned capacity increases in the industry, Citi argued that average selling prices of gloves would continue to rise till 1Q CY21, before levelling off/normalizing.

" The emergence of spot orders (2-3x higher ASPs) is also pushing up blended ASPs the impact on earnings and margins when costs are flattish/declining is being underappreciated by the Street, in our view."
On the Singapore Exchange, the glove stocks are Riverstone, UG Healthcare and Top Glove. And there is Sri Trang Agro.
Sri Trang Agro is lesser known among Singapore investors partly because there is no analyst coverage out of Singapore, and it' s not a 100% glove business.
Instead, located in Thailand, its vast business spans the entire natural rubber supply chain from plantations to latex processing to glove manufacturing.

In July 2020, it spun off its glove manufacturing business on the Bangkok Stock Exchange, retaining a 56% interest in Sri Trang Gloves.
Sri Trang Agro, according to the Citi report, is " an inexpensive proxy to the world& rsquo s third largest glove-maker" which has a production capacity of 33 billion gloves a year.
Year-to-date, Sri Trang Agro stock has risen from 44 cents to $1.18 for a market cap of S$1.7 billion.  The stock is also listed on the Bangkok Stock Exchange.

The Citi report authored by Megat Fais, CFA raised its Sum-of-the-Parts target price of Sri Trang Agro to Bt71.00 (from Bt39.80), or the equivalent of S$3.14.  Citi said this is mainly on higher valuation for Sri Trang Agro& rsquo s 56%-owned Sri Trang Gloves after revising higher its ASP assumptions for Sri Trang Gloves. At the Sri Trang Agro level, FY20-22E earnings are raised by 50-136%.

Citi forecasted 4.6 billion baht net profit for 2020 (EPS: 2.99 baht, 13 sgd cents). Next year (2021) is expected to see a huge net profit: 9.3 billion baht (EPS: 6.06 baht, 27 sgd cents). Citi said the bulk of Sri Trang Agro& rsquo s TP is still derived from Sri Trang Gloves.
Citi ascribed a higher holding company discount of 30% (previously: 10%) as the " muted outlook" at the parent company& rsquo s midstream businesses may see investors preferring to take a direct exposure to Sri Trang Gloves.
 

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Longtermer
Elite
14-Aug-2020 15:17     
 
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Yells: "A disciplined investor is a wealthy investor"
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 Alert Admin


Just for those who did not read this report, repost for your understanding..
At $1.25 now, the counter has much room to move up.
Results tonight will confirm the valuation.. Hold tight.

---
SRI TRANG AGRO:
Target price raised to 71 baht (S$3.14) by Citi Research

A sharp correction happened to the stock prices of glove manufacturers in the last few days on Russian vaccine news. But a long Citi research report (62 pages, no less!) on the industry and its top players, published on 11 Aug, raised earnings forecasts and target prices for Asean glove makers.
" Even with a vaccine, a structural step-up in gloves usage is on the cards as the pandemic may well accelerate the narrowing of the gap between EM (emerging markets) and DM (developed markets) gloves consumption."

Considering continued surging demand versus planned capacity increases in the industry, Citi argued that average selling prices of gloves would continue to rise till 1Q CY21, before levelling off/normalizing.

" The emergence of spot orders (2-3x higher ASPs) is also pushing up blended ASPs the impact on earnings and margins when costs are flattish/declining is being underappreciated by the Street, in our view."
On the Singapore Exchange, the glove stocks are Riverstone, UG Healthcare and Top Glove. And there is Sri Trang Agro.
Sri Trang Agro is lesser known among Singapore investors partly because there is no analyst coverage out of Singapore, and it' s not a 100% glove business.
Instead, located in Thailand, its vast business spans the entire natural rubber supply chain from plantations to latex processing to glove manufacturing.

In July 2020, it spun off its glove manufacturing business on the Bangkok Stock Exchange, retaining a 56% interest in Sri Trang Gloves.
Sri Trang Agro, according to the Citi report, is " an inexpensive proxy to the world& rsquo s third largest glove-maker" which has a production capacity of 33 billion gloves a year.
Year-to-date, Sri Trang Agro stock has risen from 44 cents to $1.18 for a market cap of S$1.7 billion.  The stock is also listed on the Bangkok Stock Exchange.

The Citi report authored by Megat Fais, CFA raised its Sum-of-the-Parts target price of Sri Trang Agro to Bt71.00 (from Bt39.80), or the equivalent of S$3.14.  Citi said this is mainly on higher valuation for Sri Trang Agro& rsquo s 56%-owned Sri Trang Gloves after revising higher its ASP assumptions for Sri Trang Gloves. At the Sri Trang Agro level, FY20-22E earnings are raised by 50-136%.

Citi forecasted 4.6 billion baht net profit for 2020 (EPS: 2.99 baht, 13 sgd cents). Next year (2021) is expected to see a huge net profit: 9.3 billion baht (EPS: 6.06 baht, 27 sgd cents). Citi said the bulk of Sri Trang Agro& rsquo s TP is still derived from Sri Trang Gloves.
Citi ascribed a higher holding company discount of 30% (previously: 10%) as the " muted outlook" at the parent company& rsquo s midstream businesses may see investors preferring to take a direct exposure to Sri Trang Gloves.
 
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3dw1nchu4
Veteran
14-Aug-2020 15:11     
 
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 Alert Admin 		As at 3.10pm:
Buy up :  4,097,500  shares
Sell down:  1,830,400  shares

Looking good  laugh
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Fluffyclouds
Master
14-Aug-2020 15:00     
 
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 Alert Admin 		HAHAHA! true. I was camping at $1.2 and below. Then again, aiyah, mai tu liao. 
Thai side $3, SG side marathon ah?

yamseng      ( Date: 14-Aug-2020 14:58) Posted:

hopefully like Medtecs, one day before the result, the share price still hovering low.....
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yamseng
Supreme
14-Aug-2020 14:58     
 
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 Alert Admin 		hopefully like Medtecs, one day before the result, the share price still hovering low.....
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guards80
Supreme
14-Aug-2020 14:56     
 
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 Alert Admin 		1hrs chart baseline support 1.240
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Fluffyclouds
Master
14-Aug-2020 14:51     
 
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 Alert Admin 		Saw your post that you went out. Felt sorry about it. I understand how you feel. Thats why i set realistic TP when it was peaking at $1.7 after the IPO.

Too many noise of fears in the market that time. Now it went back down to a level that i can buy and invest again.

My long term target is $3.
Top glove already got new TP of $16.
(Theres a report stating this could be $3.14)

But anything above $1.5 after tonight result is already good for me and seriously, undervalue. 
 

Sgvale      ( Date: 14-Aug-2020 14:47) Posted:

Very tricky counter. Not easy to see its direction

yamseng      ( Date: 14-Aug-2020 14:45) Posted:

got strength ?? 
hit 128 and coming down?
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hantanbl
Senior
14-Aug-2020 14:50     
 
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 Alert Admin 		Bro i agree with you. Difficult counter
This counter need fast buy, fast sell. 

Sgvale      ( Date: 14-Aug-2020 14:47) Posted:

Very tricky counter. Not easy to see its direction

yamseng      ( Date: 14-Aug-2020 14:45) Posted:

got strength ?? 
hit 128 and coming down?
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guards80
Supreme
14-Aug-2020 14:50     
 
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 Alert Admin 		Some how like push up and down to make it higher end of the day huat ah😁
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wait4opp
Master
14-Aug-2020 14:49     
 
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 Alert Admin 		Shotists get burnt.....do not believe will go up .....still trying to press down the price........as people comes to buy they short........

Lets' buy up and see how they can chase after their coverage for their short.....
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small_cap
Member
14-Aug-2020 14:48     
 
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 Alert Admin 		BBs flexing now....showing you how easy they can pull this up very quickly whenever they want to
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Fluffyclouds
Master
14-Aug-2020 14:47     
 
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 Alert Admin 		Bro, looks at their financial results. 
Then look at thai gloves price currently.

Now the next piece we should be looking at is tonight results.
Dont join in when its peaking after result cause its gonna be fast and furious.

Now is too cheap too ignore. 

yamseng      ( Date: 14-Aug-2020 14:45) Posted:

got strength ?? 
hit 128 and coming down?
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Sgvale
Supreme
14-Aug-2020 14:47     
 
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 Alert Admin 		Very tricky counter. Not easy to see its direction

yamseng      ( Date: 14-Aug-2020 14:45) Posted:

got strength ?? 
hit 128 and coming down?
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yamseng
Supreme
14-Aug-2020 14:45     
 
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 Alert Admin 		got strength ?? 
hit 128 and coming down?
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tritonyeah666
Elite
14-Aug-2020 14:44     
 
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 Alert Admin 		Its the fastest execution and the easiest to control price as its small enough to get liquidity and fast enough for them to always set the price.

In industry jargon its a 1 lot marker.
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hantanbl
Senior
14-Aug-2020 14:43     
 
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 Alert Admin 		many of us have this question on our mind, what is that 100 shares transaction for? been seeing this in many counters

tritonyeah666      ( Date: 14-Aug-2020 14:38) Posted:

Okay I see the bbs already...those 100 shares or 0.1 lots coming in to buy much faster than anyone.
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