KUALA LUMPUR (June 11): Shares in Top Glove Corp Bhd hit a record high of RM11.48 this afternoon for a gain of 58 sen or 5.3%.
This comes a week before the group is set to release its financial results for the third quarter ended May 31, 2018.
TA Securities analyst Tan Kam Meng said the third quarter results would be Top Glove’s first since the completion of its RM1.37 billion acquisition of surgical glove manufacturer Aspion Sdn Bhd in April.
“The market could be anticipating strong results from Top Glove, as this would be the first quarter where we can see Aspion’s contributions,” he told theedgemarkets.com.
At press time, the ringgit was trading at 3.9865 to the US dollar — its weakest level in five months. A stronger dollar is beneficial to exporters such as Top Glove.
Source: The Edge