Supermax Corp Bhd, which traded for the first time in the FTSE Bursa Malaysia KLCI (FBM KLCI) constituency index last Monday, is now the most profitable counter for the current year among 30 KLCI shares after jumping over 900% between January 1 and yesterday.
Top Glove Corp Bhd ranks second in the list.
Based on the latest Top Glove investor presentation, the price of Supermax shares recorded an increase of 917.81% for the current year after closing at RM6.92 yesterday.
Another glove manufacturer, Hartalega Holdings Bhd was in third place after its share price rose 132.12% for the current year after closing at RM12.72 yesterday.
Supermax's participation in the KLCI means the company has joined Top Glove and Hartalega after both companies were listed in the KLCI earlier due to rising stock prices following the Covid-19 pandemic.
The market capitalization of glove manufacturers increased in line with its share price due to Covid-19, resulting in higher demand for rubber gloves to curb the pandemic and provide better revenue prospects for the firms.
