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RIVERSTONE HOLDINGS LIMITED
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newb1234
Member |
15-May-2020 11:56
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bro, what is the good support level here? 1.65? or 1.79?
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SgYuan
Supreme |
15-May-2020 11:30
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ew 1750 1870 w2?
w1 120 w2 75 tgt 1795 px hit low 1790 and uturn w3 195 tgt 1985 up 161.8% - px hit 1970 and crush down delta 180 day rsi 90.855 very topish - it need to correct now this wave start from 68.5 to 1140 to 1970 delta drop 1970-1140 ×38.2%=317 tgt 1970-317=1653 - px hit low 1975 - it touch 30min cloud 1750 can consider wa dn 1970 1750 delta 220 wb up ew 1750 1860 w2? w1 110 - px block by 15min chart baseline 1860 w2 70 tgt 1790 - px hit low 1830 - px cannot break 1790 wave c continue w3 w4 w5
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Sgvale
Supreme |
14-May-2020 16:35
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Going to shoot $2!!! | ||||
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Sgvale
Supreme |
14-May-2020 14:39
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$2 ? | ||||
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lovetoshare
Elite |
14-May-2020 14:27
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Top Gloves $3.27? River $1.90? ---> they said $2.20.... Medtec ---- $0.188? but medtec ( Really Mad ) LOL |
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commoner
Senior |
14-May-2020 14:23
Yells: "I cannot post anymore... Dont come to my thread!" |
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WOW. WAT HAPPEN!?
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lovetoshare
Elite |
14-May-2020 14:22
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Exactly total agree
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Sunrahelios
Senior |
14-May-2020 14:19
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Mr Wong Teck Son better not dispose his shares these few days. | ||||
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TA_Expert
Supreme |
14-May-2020 11:28
Yells: "The World has changed" |
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Yes, STI blue chips are a joke, mostly GLCs.
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easywin
Supreme |
14-May-2020 11:11
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Fully agreed, AEM is much better thanSPH, SembCorp,... and many more
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lovetoshare
Elite |
14-May-2020 10:48
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AEM should go in too? LOL
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TA_Expert
Supreme |
14-May-2020 09:59
Yells: "The World has changed" |
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RS has rallied more than 100% since March low. The company has put all the STI blue chips to shame. RS should be included in the STI constituent in the future. lol... |
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Joelton
Supreme |
14-May-2020 09:52
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Riverstone' s gloves remains a hot investment to wear and invest in, say analystsAmala Balakrishner 13/05/2020, 2:18pm SINGAPORE (May 13): Earnings of Malaysia-based glove and face mask manufacturer Riverstone Holdings soared 54.3% to RM46.6 million ($15.2 million) in 1Q20, from RM30.2 million a year ago, reinforcing that protective health gear are now the hottest investment property. Revenue for 1Q20 correspondingly increased 16.2% to RM297.4 million from the RM30.2 million recorded in 1Q19, following robust global demand for healthcare products amid the Covid-19 pandemic. A further boost in earnings came from a downtrend from the prices of Butadiene, a raw material used to produce Riverstone&rsquo s nitrile-based gloves. As such, the group&rsquo s gross profit margin strengthened by 4.6 percentage points year-on-year to 24.0% in the quarter. Riverstone is now ramping up its production levels to match the uptick in orders for health-protective gear from both its new and existing customers. For one, it is looking to increase its production capacity by 1.4 billion or 15.6% to 10.4 billion pieces of gloves per annum by 4Q20. This will be done at its new facility, which constitutes phase 6 of Riverstone&rsquo s expansion plans, the group states in a regulatory filing on May 11. &ldquo Completion of our new facility for phase 6 of our capacity expansion plans has come at an opportune time, and we are progressively commissioning new lines to satisfy our customers&rsquo urgent need for examination gloves,&rdquo notes Executive Chairman and CEO, Wong Teek Son. &ldquo Due to the surge in healthcare glove orders resulting from the Covid-19 pandemic, we have been ramping up production and reducing downtime for our production lines to meet this robust demand&rdquo . As at end March, cash and cash equivalents stood at RM 170.7 million, down from RM 130.3 million a year ago, giving the group sufficient funding capacity to execute its expansion plans. Looking at the group&rsquo s results, CGS-CIMB Ong Khang Chuen says it is 30% higher than forecasts by his team and Bloomberg. &ldquo The key surprise was stronger-than-expected margin expansion which widened mainly due to 1) favourable supply-demand dynamics leading to a better pricing environment and 2) lower raw material prices,&rdquo he says in a May 12 note. Amid a heightened emphasis on hygiene, Ong anticipates Riverstone to see a spike in demand for gloves among both healthcare and non-healthcare sectors. Already he notes that the company has an order backlog of around three to four months for cleanroom gloves, as opposed to an average of one month prior to the pandemic. This translates to its present operation level of 95%, as opposed to 88% previously. To this end, he expects the group to record sales growth of 17% in FY20F bringing earnings up 61% to RM 210 million for the year. DBS analyst Ling Lee Keng has forecast a higher earnings growth of 27%/19% for FY20F/FY21F given the group&rsquo s ability to &ldquo generate above-industry margins&rdquo , particularly for cleanroom gloves. Both Ong and Ling have posted &ldquo buy&rdquo or &ldquo add&rdquo calls on Riverstone at a target price of $1.86 and $2.20 respectively. This is a significant deviation from the $1.47 the group is currently trading at. To Ling, Riverstone&rsquo s current price-to-earnings of 17.7x and 18.3x on FY20F and FY21F sees it trading at a 42% discount compared to its peers. &ldquo This is unjustifiable, in our view, given its leadership position in the cleanroom segment. We see value in Riverstone&rsquo s hard-to-replicate cleanroom business that sets it apart from its competitors,&rdquo she stresses in a May 12 note. As at 1.11pm shares at Riverstone Holdings were up 22 cents of 13.6% to $1.84. https://www.theedgesingapore.com/capital/investing-ideas/riverstones-gloves-remains-hot-investment-wear-and-invest-say-analysts |
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Longtermer
Elite |
14-May-2020 09:51
Yells: "A disciplined investor is a wealthy investor" |
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Update on 3 SGX glove companies.. Top Glove crazy liao.. Top Glove up 7.1% Riverstone up 2.2% UG 0% DYODD. Cheer | ||||
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SgYuan
Supreme |
14-May-2020 09:05
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ew 1750 1870 w2?
w1 120 w2 75 tgt 1795 px hit low 1790 px cannot break 1790 w3 195 tgt 1985 up 161.8% if wabc up then 120 tgt 1910 up 100% Now rsi 90 very topish Have profit better take |
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Longtermer
Elite |
13-May-2020 16:40
Yells: "A disciplined investor is a wealthy investor" |
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Update on 3 SGX glove companies.. Top Glove crazy liao.. Top Glove up 17.3% ($3.05) Riverstone up 11.7% ($1.81) UG 7.7% (35c) DYODD. Cheers |
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newb1234
Member |
13-May-2020 16:21
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good retracement level @ 1.80 now to enter. | ||||
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Longtermer
Elite |
13-May-2020 15:48
Yells: "A disciplined investor is a wealthy investor" |
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Update on 3 SGX glove companies.. Top Glove up 16.2% ($3.02) Riverstone up 11.1% ($1.80) UG 6.2% (34.5c) DYODD. Cheers
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commoner
Senior |
13-May-2020 13:34
Yells: "I cannot post anymore... Dont come to my thread!" |
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uob report? i very scared.... LOL
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Longtermer
Elite |
13-May-2020 13:31
Yells: "A disciplined investor is a wealthy investor" |
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Riverstone Holdings - DBS Research 2020-05-12Riverstone' s stellar 1Q20 performance, above expectations Benefitting from COVID-19, expect remaining three quarters to be strong on higher ASP and robust demand. Raise earnings for FY20F/FY21F by 27%/19% to account for higher ASP and margins. Maintain BUY with higher Target Price of S$2.20. Stronger Growth For The Healthcare Segment &bull Riverstone Holdings (SGX:AP4)' s group revenue gained 16.2% y-o-y to RM279.4m. Both the cleanroom and healthcare glove segments continued to record robust sales volume growth. The healthcare segment registered stronger growth due to surging worldwide demand amid the COVID- 19 pandemic. &bull The average selling price (ASP) increase for the healthcare segment only comes in May, thus 1Q did not benefit from any ASP rise. The cleanroom segment is less affected by the volatility in ASP as it is locked in via contracts. Margin Improvement &bull Riverstone has benefitted from the downtrending prices of Butadiene, a key raw material used in the production of its nitrile-based gloves. Butadiene price, which tends to move in tandem with oil prices, is down c.33% in 1Q20. &bull Bolstered by the tailwinds of lower raw material costs, Riverstone&rsquo s gross profit margin strengthened by 4.6ppts y-o-y to 24.0% in 1Q20. Net profit surged 54.3% y-o-y to RM46.6m, beating our expectations as it accounts for 31% of our FY20F forecast. Strong Balance Sheet. &bull Supported by strong operating cash flows, Riverstone&rsquo s balance sheet is even stronger now as its cash balance increased 31% from 4Q19 to RM170.7m as at 1Q20. Capacity expansion plan on track for 15.6% increase in 2020 to meet higher demand. &bull Phase 6 of Riverstone&rsquo s expansion plan is on track to lift capacity by up to 1.4bn to a total of 10.4bn pieces of gloves per annum, representing a growth rate of 15.6%, to cater to the increasing demand. Out of a total of seven lines, two are already in production and the remaining lines are expected to be ready by end-2020. &bull Moving beyond phase 6, plans are already underway following the group&rsquo s acquisition of a 3.8-acre land bank in Taiping where Riverstone intends to construct its new facility and expand capacity further. Benefitting From COVID-19, Expect Remaining Three Quarters To Be Strong On Higher ASP And Robust Demand &bull Due to the surge in worldwide demand for products such as examination gloves and facemasks, Riverstone has been witnessing an uptick in orders from both new and existing customers during this period. New customers, mainly from hospitals, account for 40-50% of total sales. &bull ASP is also on a rising trend, due to the strong demand and tight supply. The 10-20% increase in ASP is effective in May/June 2020 onwards. Riverstone is running at full capacity now at c.95% utilisation rate. Any increase in volume can only come from the capacity expansion. &bull ASP is also on a rising trend, due to the strong demand and tight supply. The 10-20% increase in ASP is effective in May/June 2020 onwards. Riverstone is running at full capacity now at c.95% utilisation rate. Any increase in volume can only come from the capacity expansion. Raise Riverstone' s Earnings For FY20F/FY21F By 27%/19%. We have raised our earnings forecasts for FY20F/FY21F by 27%/19%, to account for the higher ASP for the healthcare segment, and also higher margins. On the back of the higher earnings, target price for Riverstone is revised up to S$2.20, or PE of 26x on FY20F earnings, which is at a 30% discount to peers. Riverstone remains our top pick in the Glove Manufacturing sector, on relative valuations. Maintain BUY. |
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