Latest news with #SupermaxCorpBhd
Focus Malaysia
07-07-2025
- Business
- Focus Malaysia
High profile defamation suit between ex-nat'l shuttler Robert Lin & Supermax boss set for Aug 6-8
THE Kuala Lumpur High Court has fixed Aug 6-8 this year to hear a defamation suit filed by former national men's double badminton player Robert Lin Woon Fui against Supermax Corp Bhd executive chairman Datuk Seri Stanley Thai Kim Sim and businessman Datuk Teh Chee Kien. Lin had on March 15, 2022 filed a defamation suit against Thai and Teh seeking RM10 mil in damages from each of them. Both Thai and Teh filed their defence on May 27, 2022. In addition, Thai also filed a counterclaim against Lin seeking damages. The defamation suits are expected to attract interest as they involve two high-profile personalities. Thai, 65, is the co-founder of listed Supermax Corp Bhd which is today ranked as among Malaysia's Big Four glove makers. The company which has manufacturing plants in Malaysia and the US, exports to over 165 countries. Thai also sat on the board of the Malaysian Rubber Export Promotion Council from 2010 to 2015. Meanwhile, Lin, 42, partnered Mohd Fairuzizuan Mohd Tazari to reach a career-high world No. 4 in the Badminton World Federation (BWF) rankings in 2006. The duo also helped Malaysia win the team bronze medal at the 2006 Asian Games. The Malaysians were dubbed the 'Chinese men's doubles killer' as they defeated Guo Zhendong and Xie Zhongbo in the 2006 Badminton World Federation World Championships in Madrid. – July 7, 2025 Main image credit: The Edge; ahboy_badminton/Instagream
New Straits Times
22-05-2025
- Business
- New Straits Times
Analyst downgrades Supermax to 'Hold', expects losses to persist through FY26
KUALA LUMPUR: Supermax Corp Bhd is expected to remain loss-making up to the end of financial year 2026 (FY26), weighed down by a challenging operating environment and continued start-up losses from its United States (US) glove plant. CIMB Securities said the demand from US clients is likely to stay subdued in the short term for Supermax, as prior front-loading activities suggest that current inventory levels could last until the second quarter (Q2) of FY26. Outside the US, the firm anticipates average selling price (ASPs) to remain under pressure as Chinese glove makers increase their presence in non-US markets, intensifying competitive dynamics. "Although Supermax commenced initial production on the first half of Phase 1 (2.4 billion pieces annually) at its US facility in January , we believe the ramp-up to full commercial production could be slower than expected owing to ongoing production line validation. "Until the full capacity of Phase 1 (4.8 billion pieces annually) is operational — likely only by the second half of FY26 — we expect US operations to remain in the red, given the lack of scale needed to achieve operating leverage," it said. Supermax reported a core net loss of RM93.4 million for the nine months of FY25, which is below our expectations. The wider-than-expected loss in Q3 FY25 was mainly due to weaker sales demand and the adverse impact of the strengthening of the ringgit against the US dollar. CIMB Securities has widened its net loss forecasts for FY25 to FY26 to reflect softer sales volumes, more competitive ASPs and a delay in the commercial ramp-up of Supermax's US glove plant. The firm now projects Supermax to remain loss-making through its FY26 forecast, with a return to profitability only expected in FY27. As a result, CIMB Securities has lowered its target price to 80 sen from RM1.05 to reflect a more challenging operating outlook. "Given the near-term headwinds and intensifying competitive landscape, we downgrade Supermax to 'Hold' from 'Buy'," it added.
