Top Glove second largest listed company on Bursa Malaysia

📆 13/10/2020 10:22:00
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KUALA LUMPUR: Top Glove has once again overtaken Public Bank as the second most valuable company on Bursa Malaysia following the re-implementation of the Conditional Movement Control Order (CMCO) in Sabah, Selangor, Kuala Lumpur and Putrajaya.

At 11.05 am, the world’s largest rubber glove manufacturer saw its share price rising seven sen to RM9.04, which brought its market capitalisation to RM74.03 billion, thus becoming the second largest listed company on the local bourse.Prior to this, Top Glove had temporarily displaced Public Bank as the second largest listed company on Bursa Malaysia in July and August this year but the position was soon recaptured by Public Bank.

In a note today, Malacca Securities Sdn Bhd said with the rising number of COVID-19 cases , demand for healthcare counters would remain firm while the search for vaccine remains clouded by uncertainties.At 11.05 am, benchmark FTSE Bursa Malaysia KLCI trimmed 3.43 points, or 0.23 per cent to 1,515.0 from Monday’s close of 1,518.43.Overall, market breadth was negative with losers leading gainers 438 to 335, while 403 counters were unchanged, 949 untraded and 19 others suspended.

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Using more face mask than gloves. Unrealistic valuation and hype

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