Hartalega, which was the top loser of the day, saw RM5.69bil wiped out, reducing its market capitalisation to RM35.92bil. Its issued shares were 3.43 billion., Top Glove, Supermax and Kossan came under heavy selling pressure on Monday, the first trading day of 2021, as the regulated short selling which came into effect wiped out RM13.56bil in total market capitalisation.
Hartalega, which was the top loser of the day, saw RM5.69bil wiped out, reducing its market capitalisation to RM35.92bil. Its issued shares were 3.43 billion. In a press statement on Monday, the world’s largest glove maker said the special dividend was in addition to its existing dividend policy of a 50% dividend payout ratio on its profit after tax and minority interests for the second, third and fourth quarters of financial year 2021.
To put their unrealistic valuation into perspective. I've been using more mask than gloves. In fact, I can't remember the last time I used gloves.