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Health Technology

Hartalega Holdings Bhd.

Company Background

Hartalega is the world's largest producer of synthetic rubber gloves, used mainly in the healthcare industry. Besides its own brand, the company is also an original equipment manufacturer that makes high-quality surgical and laboratory gloves.

The company was founded in 1988 by Kuan Kam Hon, who is now executive chairman. He is an entrepreneur who built his fortune as a house builder, and later by dealing in woven labels and badges. Annual production capacity of the company is over 13 billion gloves, which was nearly 30% of Malaysia's exports in 2013. Its products are exported to about 40 countries. Sales in the U.S. make up about half of the company's revenue, followed by Europe and Asia.

Like Top Glove, its rival, which is the leader in natural rubber gloves, Hartalega was able to grow rapidly, especially in the mid-2000s, when hospitals in developed economies such as the U.S. and Europe began to switch from latex to nitrile gloves. Nitrile gloves cause fewer problems with skin allergies. Ownership in Hartalega is controlled by the Kuan family, which was led by second-generation Managing Director Kuan Mun Leong.

Business Summary

Hartalega Holdings Bhd. operates as an investment holding company. The firm engages in the manufacture and sale of latex gloves. It operates in North America, Europe, Asia, Australia, Malaysia, South America, Middle East and Russia. The company was founded by Kam Hon Kuan on July 24, 2006 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Mar 2021 MYRUSD
Revenue6,703.48M1,605.75M
Gross Profit4,097.99M981.63M
Operating income3,771.41M903.40M
Income before tax3,813.38M913.45M
Net income2,885.51M691.19M
EBITDA3,909.23M936.41M
Diluted EPS0.840.20
Dividends Per Share0.500.12
Total Assets6,901.87M1,664.50M
Total liabilities1,902.76M458.88M
Total equity4,974.90M1,199.78M
Operating cash flow3,096.60M741.76M
Currency in MYRCurrency in USD

Historical Data

 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 1,821.87M 2,405.63M 2,827.21M 2,924.31M 6,703.48M
Gross Profit 490.57M 614.76M 708.20M 741.53M 4,097.99M
Operating income 386.63M 458.94M 573.99M 593.12M 3,771.41M
Income before tax 348.97M 526.42M 550.82M 555.43M 3,813.38M
Net income 283.00M 438.91M 455.17M 433.61M 2,885.51M
EBITDA 457.29M 547.36M 677.97M 718.44M 3,909.23M
Diluted EPS 0.08 0.13 0.13 0.12 0.84
Dividends Per Share 0.04 0.07 0.08 0.07 0.50
Total Assets 2,334.98M 2,687.19M 3,052.64M 3,351.35M 6,901.87M
Total liabilities 650.19M 689.79M 793.41M 808.23M 1,902.76M
Total equity 1,682.16M 1,994.22M 2,256.42M 2,539.79M 4,974.90M
Operating cash flow 337.11M 399.10M 620.39M 650.80M 3,096.60M
 Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021
Revenue 433.24M 576.81M 693.53M 702.19M 1,605.75M
Gross Profit 116.65M 147.40M 173.72M 178.05M 981.63M
Operating income 91.94M 110.04M 140.80M 142.42M 903.40M
Income before tax 82.98M 126.22M 135.12M 133.37M 913.45M
Net income 67.29M 105.24M 111.65M 104.12M 691.19M
EBITDA 108.74M 131.24M 166.31M 172.51M 936.41M
Diluted EPS 0.02 0.03 0.03 0.03 0.20
Dividends Per Share 0.01 0.01 0.02 0.01 0.12
Total Assets 527.62M 694.72M 747.73M 775.77M 1,664.50M
Total liabilities 146.92M 178.33M 194.34M 187.09M 458.88M
Total equity 380.10M 515.56M 552.70M 587.91M 1,199.78M
Operating cash flow 80.16M 95.69M 152.18M 156.27M 741.76M

Valuation Measures

Mar 2021
PER10.57
ROA56.28%
ROE76.79%
Operating margin56.26%
Profit margin43.04%

Key executives

  • Chief Executive Officer & Executive Director: Mun Leong Kuan
  • Chief Operating Officer: Eu Jin Kuan
  • Chief Financial Officer: Kean Wooi Loh
  • General Manager-Information Technology: Wah Choon Leang
  • Deputy General Manager-Research & Development: Mei Ling Cheah

Shareholders

  • Hartalega Industries Sdn. Bhd. (34.2%)
  • Budi Tenggara Sdn. Bhd. (8.6%)
  • Employees Provident Fund (8.1%)
  • KUAN KAM HON (2.9%)
  • KUAN KAM PENG (2.7%)
  • Kumpulan Wang Persaraan (1.8%)
  • WONG KIN SENG (1.4%)
  • The Vanguard Group, Inc. (1.3%)
  • Public Mutual Bhd. (1.2%)
  • BlackRock Fund Advisors (1.0%)

Contact Details

  • Website:http://hartalega.com.my
  • Address: C-G-9, Jalan Dataran SD1, Dataran SD PJU 9, Kuala Lumpur, 52200, Malaysia
  • Phone: +60.3.6277.1733

Related Companies

  • Hartalega NGC Sdn. Bhd.
  • Hartalega Sdn. Bhd.

Competitors

  • Mercator Medical SA
  • Sri Trang Agro-Industry Public Co. Ltd.
Last Updated on 15 Oct, 2021

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