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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Hartalega Holdings    HARTA   MYL5168OO009

HARTALEGA HOLDINGS

(HARTA)
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Hartalega : Malaysia's Hartalega to reimburse migrant workers' recruitment fees

08/10/2020 | 12:49am EST

Malaysian glove maker Hartalega Holdings Bhd will reimburse the recruitment fees previously paid by migrant workers to employment agents, the company said on Monday.

Hartalega, the second largest medical glove manufacturer in Malaysia by market value, said in a statement it is set to reimburse up to 40 million ringgit in fees as part of its commitment to social compliance.

Last month, the U.S. Customs and Border Protection (CBP) barred imports from two units of Top Glove Corp, an action the authority takes on companies suspected of using forced labour. Top Glove has since submitted a petition and said it has made progress in engagement with the CBP.

The U.S. is a key market for Hartalega.

"We target to begin remediation by the fourth quarter of 2020, to be completed over the span of up to 24 months," Chief Executive Officer Kuan Mun Leong said, adding that the company is working with an external independent party to review the plan.

(Reporting by Liz Lee; Editing by Kim Coghill)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HARTALEGA HOLDINGS -0.55% 14.4 End-of-day quote.162.77%
TOP GLOVE CORPORATION BHD. 1.86% 7.12 End-of-day quote.354.47%
All news about HARTALEGA HOLDINGS
11/25Malaysia's Top Glove sees supply shortages boosting latex glove prices
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11/24Top Glove warns on deliveries after virus outbreak shuts plants
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11/24GLOBAL MARKETS LIVE: Tesla, Best Buy, Qantas…
11/24COVID outbreak hits top rubber glove maker
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11/17New Malaysia curbs to affect quarter of Top Glove workers; shares slump
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11/16New Malaysia curbs to affect quarter of Top Glove workers; shares slump
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11/06Malaysia's Four Biggest Glove Makers Commit MYR400 Million to Battle Covid-19
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11/06Malaysia's major medical glove companies commit $97 million to help fight COV..
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10/27HARTALEGA : Second-Quarter Net Profit Soared on Pandemic-Driven Glove Demand
DJ
09/09HARTALEGA : Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - MR KUAN KAM ..
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More news
Financials
Sales 2021 6 339 M 1 554 M 1 554 M
Net income 2021 2 529 M 620 M 620 M
Net cash 2021 412 M 101 M 101 M
P/E ratio 2021 20,2x
Yield 2021 3,02%
Capitalization 49 660 M 12 190 M 12 178 M
EV / Sales 2021 7,77x
EV / Sales 2022 5,84x
Nbr of Employees 8 800
Free-Float 37,3%
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Technical analysis trends HARTALEGA HOLDINGS
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 22,76 MYR
Last Close Price 14,46 MYR
Spread / Highest target 87,4%
Spread / Average Target 57,4%
Spread / Lowest Target 10,8%
EPS Revisions
Managers
NameTitle
Mun Leong Kuan Managing Director & Executive Director
Kam Hon Kuan Executive Chairman
Eu Jin Kuan Chief Operating Officer
Kean Wooi Loh Chief Financial Officer
Wah Choon Leang General Manager-Information Technology
Sector and Competitors
1st jan.Capitalization (M$)
HARTALEGA HOLDINGS162.77%12 139
COLOPLAST A/S12.73%31 802
TELEFLEX INCORPORATED-1.43%17 823
TOP GLOVE CORPORATION BHD.354.47%14 045
SHANDONG WEIGAO GROUP MEDICAL POLYMER COMPANY LIMITED71.73%9 357
SUPERMAX CORPORATION1,209.35%5 738