Anzo Rises to Almost 30 sen on US$200 Million Glove Orders

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Anzo rises to almost 30 sen on US$200 million glove orders

Anzo Holdings Bhd again opened positively this morning at 9.00 am inching up 1.5 sen over yesterday's closing price of 23 sen. At 9.05 am, the stock was trading at 24.5 sen.

And finally by 9.25am the stock hit 26 sen and next possibility is to hit limit-up.The stock has been trading actively in the last few weeks and is expected to hit a limit up this week. 

Anzo, it is believed, has received an order from the United States and Europe to supply medical gloves/nitrile gloves starting this year.We heard that the market value for the gloves is in the region of about US$200 million. 

If this is true, then Anzo is set to become one of the hottest stocks on Bursa and its revenue and net profit will also improve significantly.

  

Lately, there has been a lot of news on Anzo with it first winning a RM1.3 billion contract to supply copper scrap to a large steel maker in South Korea. 

Then last week Anzo bought a glove manufacturing plant in Manjung, Perak for RM55 million. The factory has 9 production lines that can produce up to 1.2 billion pieces of medical gloves/nitrile gloves a year. 

It seems the factory has more land for expansion and if Anzo does expand the current production lines, it can easily produce more than 2 billion pieces a year.The orders from the United States may have come in because of the recent spike in coronavirus cases.

The United States recorded 39,379 new coronavirus cases in 24 hours on Sunday (Monday in Malaysia), the fourth consecutive day of surging numbers of new infections, including a high of 57,683 on Friday. 

The total number of cases in the US is 2,876,143 and infections continue to inch up in the country. The US also recorded 234 new fatalities, bringing the total death toll in the country to 129,891. 

The United States passed another grim coronavirus milestone yesterday as the death toll from the virus climbed past 130,000, according to a tally kept by Johns Hopkins University.

  

Several other countries around the world are also hit hard by the global pandemic such as South America, Europe, Russia, and India.

  

Countries are buying medical gloves from Malaysian glove manufacturers in several billions of pieces and Anzo is definitely on board to get more orders.

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