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us apple developer accounts for sale:Banks and glove makers in for strong earnings rebound

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,Banks Malaysian Maybank RHB, Public Cimb

PETALING JAYA: Banks, along with glove makers, can be the industries that will be leading the charge for strong corporate earnings rebound this year.

This is due to the banking industry being a proxy to the broader economy which is recovering while glove stocks are expected to continue their winning streak.

In its outlook note, TA Research said corporate earnings would show a significant surge this year especially due to the strong contribution by the glove makers.

“The four glove companies under our coverage, Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd will witness a surge in their aggregate profits to RM20.8bil in 2021 versus RM10.9bil and RM1.8bil in 2020 and 2019 respectively, ” it said.

However, the research house noted that their amazing profit performance this year would not be repeated as the glove makers’ aggregate earnings would normalise to RM12.4bil in 2022 due to a softening in average selling prices as vaccines are rolled out.

“The huge drop of RM8.4bil in glove earnings compared with 2021 will be compensated by an earnings recovery in banking, gaming, oil and gas, telecommunications and transportation sectors, ” TA Research said.

“The easing of containment measures amid mass rollout of vaccines, improvement in private sector demand and consumer spending as labour market conditions improve, external demand and continued accommodative policies should support households and businesses, ” TA said.

“This will then help revive loans growth, which we expect to grow by 6%, underpinned by an increase of 6.2% and 5.8% in consumer and business loans, ” it added.

It noted that despite uncertainties in terms of the credit outlook, Bank Negara appeared to be ensuring liquidity in the system by relaxing capital and buffers to support lending activities.

“We like Alliance Bank Malaysia Bhd, Hong Leong Bank Bhd, Malayan Banking Bhd and RHB Bank Bhd as a proxy to economic recovery and pick up in capital market activities, ” said TA Research.


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