MALAYSIA’s most unloved sector in recent times must surely be the glove sector as all the glove producers have seen the share prices of their companies plummet to levels not seen in years, and for some of them, at less than half the value they were trading at before the outbreak of the Covid-19 pandemic.
This column had written about the glove sector twice, “THKS – The (G)Love Story” (Starbiz, July 18, 2020), just as the pandemic had emerged and share prices of the glove sector were going to the moon, and the second article, “Valuation is an Art” (Starbiz, March 13, 2021), just as share prices were beginning to correct and as analysts were then quick to adjust earnings expectations.
