Rm200 Million Net Profit For Anzo And New Foreign Shareholder


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RM200 Million Net Profit for Anzo; and New Foreign Shareholder

A new substantial shareholder, who we think is from China may emerge in Anzo Holdings Bhd soon, following the group's two recent deals, the first where it won a RM1.3 billion contract to indirectly supply copper scrap to a large South-Korean based steel-maker, and today, a RM55 million deal to buy over a glove manufacturing plant

  While it is interesting that Anzo is venturing into the glove business as the market for this is booming worldwide, what is even more interesting is that there are many investors out there who want to own a piece of Anzo, probably because of the jobs it has in hand

  Tell me who wouldn't, especially when there is so much potential in the group now that it has new businesses to move forward and give it diversified earnings

  Today Anzo told Bursa Malaysia that it will pay RM55 million to acquire a factory producing medical and/or nitrile gloves in Manjung Perak. 
  Anzo said it had entered into a term sheet with Wintrade World Sdn Bhd today to acquire the company's assets, including land, building, machineries and equipment in Manjung

  We understand the company has been in business for over 18 years and has the track record and strong clients to purchase the medical gloves. The factory has been operating with nine production lines, with the potential to grow to 15 lines when the need arises

  Anzo said the assets are ready to be mobilised and commissioned to produce 1.2 billion pieces of medical and/or nitrile gloves a year, or 100 million pieces a month. 
  While Anzo did not say how much in revenue it would generate from this business, we assume that 1.2 billion pieces of gloves would translate to about RM400 million in revenue for the group

 We also believe that the 1.2 billion pieces of gloves it manufactures a year is from nine production lines. Imagine if Anzo increases this to 15 production lines, then it would well be manufacturing over 2 billion pieces of gloves per annum, doubling up the revenue to RM800 million

  Anzo only told Bursa that the assets and its capacity is expected to generate substantial profits for the group without elaborating further on the exact amount it is expecting from this business venture

  Looking at what the other glove markers in Malaysia are making, you can roughly estimate the expected net profit for Anzo

  The current and highest market price for medical gloves or nitrile gloves is USD75 per box of 1,000 pieces. If Anzo sells 1.2 billion pieces of gloves at that price, it will make about RM200 million in net profit. Wow! That is a lot. And with 15 production lines, the net profit could exceed RM300 million. Again, these are my estimated calculations

  One thing is for sure, we can expect that Anzo will be very profitable long term, and to remain one of Bursa's most active stocks. 
  Don't let the boat sail if you know what I mean regarding the stock


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