According to the glove maker's bourse filing Thursday, its stock will trade ex-dividend on Dec 17, while the entitlement date for the payout is Dec 20. Supermax’s full-year net profit surged to RM3.81 billion in FY21 from RM524.8 million a year earlier, as revenue jumped to RM7.16 billion from RM2.13 billion. Malaysian rubber glove manufacturers have seen an exponential rise in earnings in the past two years as the Covid-19 pandemic spurred demand for gloves, which are deemed crucial personal protective equipment to curb the spread of the pandemic. Last week, the US CBP said its officers at all US ports of entry would detain disposable gloves produced by Supermax’s wholly-owned subsidiaries Maxter Glove Manufacturing Sdn Bhd, Maxwell Glove Manufacturing Bhd, and Supermax Glove Manufacturing on forced labour allegations. At RM1.90, Supermax has a market capitalisation of RM5.17 billion.

Source: The Edge Markets October 29, 2021 10:57 UTC