Can Anzo Holdings Bhd Hit RM1.00?

Can Anzo Holdings Bhd Hit RM1.00?

Can Anzo Holdings Bhd Hit RM1.00? | Hey guys! It is power up all the way for Anzo Holdings Bhd, now a glove maker, and limit-up for the stock. Can it hit RM1.00 in time to come due to the Covid-19 pandemic. The stock breached the 25 sen mark today at 9.30 am to touch 26 sen with almost 100 million shares traded. Can we at least expect Anzo to touch 50 sen first before it heads to RM1.00? According to an analyst friend, it is possible given that a new substantial shareholder has come into Anzo. The person is believed to be from a global fund from China or Hong Kong.

Retail and institutional funds are also said to be looking to invest in Anzo, perhaps because they want a share in the company's medical glove business. Anzo is buying a glove manufacturing plant in Manjung, Perak for RM55 million. The factory with 9 production lines is able to produce up to 1.2 billion pieces of medical gloves/nitrile gloves a year.

Can Anzo Holdings Bhd Hit RM1.00?

 

Anzo is currently the cheapest glove manufacturing stock trading on Bursa that is below RM1.00 and we believe there is so much potential in this counter to grow. Just look at Top Glove which jumped from RM4.60 in early January this year to surpass RM20.00 this week. The stock has basically jumped fivefold. Even Supermax Corp Bhd was trading in the range of RM1.70 early this year and the stock has increased by almost six times to RM10.50 yesterday.

Other rubber glove counters such as Supermax Corp Bhd and Kossan Rubber Industries Bhd have also risen by more than 5 times since January this year. Shares in rubber glove makers continued to shine, following the World Health Organisation (WHO) warning the coronavirus situation is worsening worldwide. New coronavirus cases had their biggest daily increase ever as the pandemic worsens globally and has yet to peak in central America.

Can Anzo Holdings Bhd Hit RM1.00?

More than 7 million people have been reported infected with the coronavirus globally and over 400,000 have died. Just a week after Anzo announced its venture into glove manufacturing a deal has come through for the company. Anzo has received a US$200 million order to supply medical gloves to the United States after the country recorded more deaths from the Covid-19 disease.

The death toll from the virus climbed past 130,000 yesterday, according to a tally kept by Johns Hopkins University. The United States has had 2,888,729 COVID-19 cases and 130,007 deaths as of midday in Washington, the university reported. The number of coronavirus cases around the world as at July 6, 2020, is a staggering 11.57 million while total deaths are 537,045.