The company surged as much as 6.9% at the Kuala Lumpur Stock Exchange.
KUALA LUMPUR: Glovemakers Supermax Corp is rallying after its founder Stanley Thai apologised to Prime Minister Najib Razak for supporting the opposition in the last general election.
Supermax surged as much as 6.9% in Kuala Lumpur after Thai apologised in a press conference over the weekend.
Thai reportedly said he realised it was wrong for him as a businessman to be involved in politics.
“As a member of the business community I like to see political stability,” he said.
“Businesses operating in Malaysia will continue to prosper with the sound economic policy of the ruling government that is led by Prime Minister Datuk Seri Najib.”
Thai was sentenced to a five-year jail term and fined RM5 million for insider trading in November and is currently appealing against the conviction and sentencing.
Even without Thai’s “mea culpa” speech, Supermax has been having a good 2018 so far: the stock had gained 30% this year through Friday amid strong fourth-quarter results reported in February.
KUALA LUMPUR: Glovemaker Supermax Corporation Bhd has announced the resignation of Tan Sri Rafidah Aziz today.
According to a filing to Bursa Malaysia, Supermax said Rafidah’s resignation was due to 'personal reason'.
The filing said Rafidah's resignation took effect from Saturday.
Rafidah, who was the former International Trade and Industry minister, still serves chairman of AirAsia X Bhd, Megasteel Corporation and Pinewood Iskandar Malaysia Studio.
She was appointed chairman of Supermax in 2015.
She also serves as adjunct professor at the College of Business, University Utara Malaysia.
As at 2.49pm today, Supermax’s share price was up 12 sen to RM2.70 from its opening RM2.58. The stock closed at RM2.60 on Friday.
KUALA LUMPUR: Supermax Corp Bhd shares edged up yesterday following its managing director Tan Sri Stanley Thai’s apology to the government for supporting Malaysia’s opposition in 2013 and the subsequent resignation of chairman Tan Sri Rafidah Aziz.
The stock surged as much as 6.92 per cent or 18 sen and was among the top gainers in the morning trade. By noon, it was up 15 sen to RM2.73 from its opening of RM2.58.
Supermax, one of the world’s largest glovemakers, eventually settled 3.08 per cent higher to close at RM2.68 after hitting a 52-week high of RM2.78 during the day. It closed at RM2.60 on Friday.
On Sunday, Thai apologised to Prime Minister Datuk Seri Najib Razak for his involvement in politics, saying that he had regretted getting involved in the 13th General Election and believed that he had been influenced by the opposition.
Yesterday, the company announced Rafidah’s resignation effective last Saturday due to personal reasons.
It added in a statement that the board of directors shall identify a suitable candidate for her replacement.
She was appointed chairman of Supermax in 2015.
The former International Trade and Industry Minister still serves as chairman of AirAsia X Bhd, Megasteel Corp and Pinewood Iskandar Malaysia Studio.
KUALA LUMPUR : Saham syarikat pembuatan getah kedua terbesar di dunia, Supermax Corporation Berhad melonjak setinggi 6.9 peratus pada hari Isnin. Lonjakan ini dipercayai berikutan permohonan maaf secara terbuka Ketua Pegawai Eksekutifnya, Datuk Seri Stanley Thai kepada Perdana Menteri Malaysia, Datuk Seri Najib Tun Razak. Stanley memohon maaf kepada Perdana Menteri dalam sebuah sidang media pada hari Sabtu lepas berikutan berita permohonan maaf Stanley dan peletakan jawatan Pengerusi syarikat Tan Sri Rafidah Aziz berkuat kuasa April 14. Rafidah dilantik sebagai Pengerusi syarikat berkenaan sejak 16 Jun, 2015. Pada minggu lepas, Stanley turut membuat pengakuan bahawa beliau telah kesal kerana melibatkan diri dalam politik. BACA: Rafidah Aziz letak jawatan Pengerusi Supermax Supermax Corporation Berhad bermula sebagai peniaga dan pengeksport sarung tangan getah pada tahun 1987 sebelum menceburi bidang pembuatan pada tahun 1989. Ia adalah Pengilang Jenama Sendiri (OEM) terbesar di Malaysia dan pengeluar sarung tangan getah kedua terbesar di dunia, selepas Top Glove Corporation. "Sebagai anggota komuniti perniagaan saya suka melihat kestabilan politik," kata Stanley dalam sidang media itu. "Perniagaan yang beroperasi di Malaysia akan terus maju dengan dasar ekonomi yang kukuh dikendalikan oleh kerajaan pemerintah yang diketuai oleh Perdana Menteri Datuk Seri Najib," katanya lagi. Rekod menunjukkan bahawa beliau telah dijatuhi hukuman penjara lima tahun dan didenda RM5 juta kerana didakwa menjalankan dagangan orang dalam (Insider Trading) pada bulan November lalu dan kini dalam proses rayuan terhadap hukuman itu. Saham itu telah melonjak sebanyak 30 peratus sepanjang tahun ini.
