Koon Yew Yin 30 June 2020
This morning I attended Comfort Gloves AGM. The man on my right is the Chairman and the man on my left is the CEO. I wish to record here what the Chairman said at the AGM.
The Chairman publicly said that the continuous demand for gloves far exceeds supply due to the Covid 19 pandemic. As a result, the company can easily increase the sale price for their products. They are increasing their sale price by 5-10 % every month since the beginning of the 2nd quarter. They sell cheaper to the long-term customers and higher prices to the other customers. They have no difficulty in selling even at higher selling prices because the orders are coming in continuously.
The have increased 6 additional production lines recently and they are working 24 hours a day, 7 days a week to produce as many gloves as practical.
The increase of the selling does not cost the company anything. It is pure profit.
Note: I am obliged to inform you that Comfort is one of my major investment holdings. I am not asking you to buy to push up the share price to enrich me. If you do decide to buy, I am not responsible for your profit or loss.