Supermax Corp - Fits like a glove

Stock Name: SUPERMX
Company Name: SUPERMAX CORPORATION BHD

Research House: CIMB

Price Call: BUY

Target Price: 2.43

Target RM2.43

2011 came to a fitting end as FY11 net profit came in at 97% of our forecast and 102% of consensus. But the final DPS of 1.75 sen was below our 3.9 sen forecast. Supermax's focus on distribution and own-brand gloves will buffer it from the next 1-3 years of glut.

Source: CIMB Daybreak February 29, 2012, Full PDF Report