{"id":5190,"date":"2020-07-24T12:33:11","date_gmt":"2020-07-24T04:33:11","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=5190"},"modified":"2020-07-24T12:33:14","modified_gmt":"2020-07-24T04:33:14","slug":"maybank-top-glove-public-bank-malaysias-biggest-companies","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=5190","title":{"rendered":"Maybank, Top Glove, Public Bank: Malaysia’s biggest companies"},"content":{"rendered":"\n

KUALA LUMPUR, July 24 \u00a0— A tiger with money. Glove. Mutual fund.\u00a0Those are what Maybank, Top Glove, and Public Bank are\u00a0closely associated with, being\u00a0Malaysia’s biggest companies\u00a0in terms of\u00a0market capitalization as of today.\u00a0<\/p>\n\n\n\n

Maybank, the country\u2019s\u00a0biggest bank with a market capitalization of RM88.6 billion has always been on top of the reign with a composite index (CI) weightage of 11.15 points, followed by another finance player Public Bank with a CI weight of 8.76 points.\u00a0<\/p>\n\n\n\n

Public Bank, best known for its mutual funds has a market capitalization of RM69.5 billion as of yesterday.\u00a0<\/p>\n\n\n\n

\"top\"<\/figure><\/div>\n\n\n\n

However, the \u201carrival\u201d of COVID-19 pandemic\u00a0has shaken things up with TopGlove, once at the bottom rung of the FTSE Bursa Malaysia KLCI (FBM KLCI), has now unseated Public Bank to become the second biggest market-capitalization\u00a0company in Bursa Malaysia.\u00a0<\/p>\n\n\n\n

According to Bloomberg, the glovemaker\u00a0now has a market capitalization of RM70.45 billion, with a CI weightage of 8.87 points; with a 52 week average of RM4.21-RM26.30.\u00a0<\/p>\n\n\n\n

Top Glove, the world\u2019s\u00a0largest glovemaker has surged more than 450 percent year-to-date (YTD) backed by exponential demand from countries throughout the globe, worried by the rapid rise of COVID-19 infections.<\/p>\n\n\n\n

This is despite the US Customs placed the company\u2019s subsidiaries, Top Glove Sdn Bhd and TG Medical Sdn Bhd on its Withhold Release Order list.<\/p>\n\n\n\n

While the glove counters have seen an extraordinary upswing in its share prices, counters belonging to finance has remained under pressure due to higher inflation as well as a rise in unemployment, which would lead to a higher non-performing loan scenario. <\/p>\n\n\n\n

However, it is important to note that banks have strong fundamentals and buffers to protect the sector from additional stress due to COVID-19.<\/p>\n\n\n\n

According to Bank Negara Malaysia, Malaysian banks are in\u00a0a better position compared with during the 1997 Asian Financial Crisis and Global Financial Crisis in 2008-2009.\u00a0<\/p>\n\n\n\n

As at 10.09 am today, TopGlove was down 20 sen to RM25.92 with a volume of 7.68 million due to profit-taking activities after making a gain of RM1.42 in yesterday\u2019s session.\u00a0<\/p>\n\n\n\n

Meanwhile, Maybank shed four sen to RM7.84 with 424,440 shares transacted while Public Bank slumped 20 sen to RM17.72 with 856,500 shares changing hands.  <\/p>\n\n\n\n

— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, July 24 \u00a0— A tiger with money. Glove. Mutual fund.\u00a0Those are what Maybank,…<\/p>\n","protected":false},"author":1,"featured_media":5191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,524],"tags":[],"class_list":["post-5190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc.jpg",1110,694,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc-150x150.jpg",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc-300x188.jpg",300,188,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc-768x480.jpg",640,400,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc-1024x640.jpg",640,400,true],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc.jpg",1110,694,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc.jpg",1110,694,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc.jpg",1110,694,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc.jpg",1024,640,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2020\/07\/df920624937ce2b9db638c8cd57b11505f1a5160019dc.jpg",720,450,false]},"author_info":{"info":["Editor"]},"category_info":"Business<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5190"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5190\/revisions"}],"predecessor-version":[{"id":5192,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/5190\/revisions\/5192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/5191"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}