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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Karex    KAREX   MYL5247OO001

KAREX

(KAREX)
  Report
End-of-day quote. End-of-day quote BURSA MALAYSIA - 06/03
0.535 MYR   -4.46%
03/27Condom shortage looms after coronavirus lockdown shuts world's top producer
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Condom shortage looms after coronavirus lockdown shuts world's top producer

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03/27/2020 | 11:12pm EDT
FILE PHOTO: A worker performs a test on condoms at Malaysia's Karex condom factory in Pontian

A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production.

Malaysia's Karex Bhd makes one in every five condoms globally. It has not produced a single condom from its three Malaysian factories for more than a week due to a lockdown imposed by the government to halt the spread of the virus.

That's already a shortfall of 100 million condoms, normally marketed internationally by brands such as Durex, supplied to state healthcare systems such as Britain's NHS or distributed by aid programs such as the UN Population Fund.

The company was given permission to restart production on Friday, but with only 50% of its workforce, under a special exemption for critical industries.

"It will take time to jumpstart factories and we will struggle to keep up with demand at half capacity," Chief Executive Goh Miah Kiat told Reuters.

"We are going to see a global shortage of condoms everywhere, which is going to be scary,? he said. "My concern is that for a lot of humanitarian programs deep down in Africa, the shortage will not just be two weeks or a month. That shortage can run into months."

Malaysia is Southeast Asia's worst affected country, with 2,161 coronavirus infections and 26 deaths. The lockdown is due to remain in place at least until April 14.

The other major condom-producing countries are China, where the coronavirus originated and led to widespread factory shutdowns, and India and Thailand, which are seeing infections spiking only now.

Makers of other critical items like medical gloves have also faced hiccups in their operations in Malaysia.

In emailed comments, a spokesman for Durex said operations are continuing as normal and the company was not experiencing any supply shortages. "For our consumers, many of whom will be unable to access shops, our Durex online stores remain open for business."

"The good thing is that the demand for condoms is still very strong because like it or not, it?s still an essential to have," Goh said. "Given that at this point in time people are probably not planning to have children. It?s not the time, with so much uncertainty."

By Liz Lee

Stocks mentioned in the article
ChangeLast1st jan.
KAREX -4.46% 0.535 End-of-day quote.-3.60%
RECKITT BENCKISER GROUP PLC 1.03% 7082 Delayed Quote.14.37%
WORLD CO., LTD. 1.06% 1628 End-of-day quote.-39.50%
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Latest news on KAREX
03/27Condom shortage looms after coronavirus lockdown shuts world's top producer
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Financials
Sales 2020 428 M 100 M 100 M
Net income 2020 1,35 M 0,32 M 0,32 M
Net cash 2020 27,1 M 6,36 M 6,36 M
P/E ratio 2020 428x
Yield 2020 0,55%
Capitalization 536 M 126 M 126 M
EV / Sales 2019
EV / Sales 2020 1,19x
Nbr of Employees -
Free-Float 35,9%
Chart KAREX
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Karex Technical Analysis Chart | MarketScreener
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Technical analysis trends KAREX
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 0,45 MYR
Last Close Price 0,54 MYR
Spread / Highest target 30,8%
Spread / Average Target -16,8%
Spread / Lowest Target -43,9%
EPS Revisions
Managers
NameTitle
Miah Kiat Goh Chief Executive Officer
Arshad bin Ayub Chairman
Leng Kian Goh Executive Director & Technical Director
Yien Kim Wong Independent Non-Executive Director
Ngee Song Law Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
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THE ESTÉE LAUDER COMPANIES INC.-2.96%72 965
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