Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Malaysia
  4. BURSA MALAYSIA
  5. Hartalega Holdings Berhad
  6. News
  7. Summary
    HARTA   MYL5168OO009

HARTALEGA HOLDINGS BERHAD

(HARTA)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Malaysia's Supermax says abiding by labour laws after report on U.S. probe

05/31/2021 | 01:51am EDT

KUALA LUMPUR (Reuters) - Malaysian glove maker Supermax Corp on Monday said it adhered to labour laws on treatment of migrant workers, after a report that the United States was investigating a unit over forced labour allegations.

On Saturday, the Edge Weekly said U.S. Customs and Border Protection (CBP) is investigating Malaysian glove makers Hartalega Holdings and a unit of Supermax.

The CBP said in an email it does not comment on whether specific entities are under investigation.

Supermax and its subsidiaries are committed to combatting forced labour and adhere to labour law regulations, the company said in a statement.

It added that it followed laws on recruitment of migrant workers.

"Existing policies and procedures, guided by local and international policies, are constantly being reviewed for gaps if any, for further improvements," it said.

Hartalega also said on Saturday it strictly adhered to labour laws and regulations on recruitment of migrant workers, and its efforts to combat forced labour are guided by local and international policies.

Malaysian firms have increasingly come under regulatory scrutiny over allegations of abuse of foreign workers, who form a significant part of the country's manufacturing workforce.

In the last year, the CBP banned U.S. imports from three Malaysian firms on suspicions of forced labour: Top Glove, the world's biggest latex glove manufacturer, and two top palm oil producers.

Top Glove said in April it has resolved all indicators of forced labour found at its factories. But the ban remains in place.

Earlier on Monday, Reuters reported that American manufacturer Goodyear Tire & Rubber Co is facing accusations of unpaid wages, unlawful overtime and threats to foreign workers at its Malaysian factory, according to court documents and complaints filed by workers.

(Reporting by A. Ananthalakshmi; Editing by Ed Davies)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CRUDE PALM OIL 0.00% 1035.75 End-of-day quote.22.18%
HARTALEGA HOLDINGS BERHAD 2.72% 6.04 End-of-day quote.-50.25%
LONDON BRENT OIL 0.16% 76.09 Delayed Quote.43.56%
SUPERMAX CORPORATION BERHAD 0.84% 2.39 End-of-day quote.-60.23%
THE GOODYEAR TIRE & RUBBER COMPANY 2.65% 16.64 Delayed Quote.52.52%
WTI 0.18% 72.075 Delayed Quote.46.62%
All news about HARTALEGA HOLDINGS BERHAD
09/10U.S. lifts import ban on Malaysia's Top Glove over forced labour concerns
RE
09/09U.S. lifts import ban on Malaysia's Top Glove over forced labour concerns
RE
09/07Hartalega Holdings Berhad Announces Final Single Tier Dividend for the Financial Year E..
CI
09/07Hartalega Holdings Berhad's Equity Buyback announced on April 5, 2021, has expired.
CI
08/04HARTALEGA BERHAD : Books Higher Profit in Fiscal Q1 as Revenue Soars 324%
MT
08/03Tranche Update on Hartalega Holdings Berhad's Equity Buyback Plan announced on April 5,..
CI
08/03Hartalega Holdings Berhad Proposes Final Single Tier Dividend for the Financial Year En..
CI
08/03Hartalega Holdings Berhad Reports Earnings Results for the First Quarter Ended June 30,..
CI
07/08Malaysia rubber glove body pleads for go-ahead to restart factories
RE
07/07HARTALEGA : Malaysia's Top Glove suspends Selangor operations over enhanced lockdown
RE
More news
Financials
Sales 2022 8 773 M 2 095 M 2 095 M
Net income 2022 3 914 M 935 M 935 M
Net cash 2022 3 295 M 787 M 787 M
P/E ratio 2022 5,17x
Yield 2022 11,3%
Capitalization 20 641 M 4 925 M 4 929 M
EV / Sales 2022 1,98x
EV / Sales 2023 2,95x
Nbr of Employees 8 548
Free-Float 36,0%
Chart HARTALEGA HOLDINGS BERHAD
Duration : Period :
Hartalega Holdings Berhad Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HARTALEGA HOLDINGS BERHAD
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 6,04 MYR
Average target price 8,24 MYR
Spread / Average Target 36,4%
EPS Revisions
Managers and Directors
Mun Leong Kuan Chief Executive Officer & Executive Director
Kean Wooi Loh Chief Financial Officer
Kam Hon Kuan Executive Chairman
Wah Choon Leang General Manager-Information Technology
Mei Ling Cheah Deputy General Manager-Research & Development