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| Number One Globally! |
On registration, we had a door gift pack of an organiser bag, 50 pieces of thin gloves and a garden glove.
It was an interesting AGM.
As they say, you get 'educated' after every AGM you attend.
I did get educated this afternoon. Here are some of my learning points.
Interim dividends can be declared without shareholders approval but not final dividends.
Revaluation of property helps to reflect true value of assets but it cost money to do so. The worse thing is after revaluation, the asset value may drop(Remote, I guess).
So, it is Top Glove's policy not to revalue its property. They are more interested in profit and profit expansion year after year.They are interested in long term gains and not short term profits. They are interested in being the number one latex glove producer in the world.
Their current reserves can amply fund special dividends and bonus issues without resorting to asset revaluation.
So, in a sense, Top Glove is an undervalued share.
There was morning tea with light refreshment of mee-hoon,popiah,sandwiches and cookies before the meeting. Top Glove was generous and gave us guava juice and tea/coffee at the side.
For lunch, we were provided with a muhibbah lunch-table style. Food was good. We had clear Chinese soup, fried cuttlefish,chicken in coconut milk,fish fillets,stir-fried mixed vegetables and Japanese tofu. Dessert was a slice of rock melon,a strawberry and a mango pudding.
For drinks, there was a selection of rose syrup,coffee and tea.
This is one counter to watch. It was trading at RM5.00 this morning.
