“Wichai Wachiraphong” Affirms of Not Selling STGT, Hinting on High Global Demand!

Mr. Wichai Wachiraphong, Thailand’s major investors and the holder of 22.2 million shares or 1.55% of Sri Trang Gloves (Thailand) Public Company Limited (STGT)s ordinary shares, stated on “Kaohoon Jortalad” Program, broadcasted through FM 96.0 MHz, YouTube Live and Facebook Live on August 17, 2020, that the decrease in recent days was due to a sequential selloff after STGT fell below support level, but affirmed that he had not sold his portion of shares.

 

In the interview, Mr. Wichai said that after the share price made a historical high at THB 90.00 per share along with a soaring 2Q20 earnings report, the share price started to decline as a selloff triggered, causing investors to lose confidence in the share, coupled with higher P/E and a cash balance restriction, which lower buying pressure from investors.

 

Moreover, Mr. Wichai stated that the demand for rubber gloves is still strong, while orders were fully booked until the end of next year, while the average selling price also rose about a fold. In Mr. Wichai’s perspective, the demand would remain in the market for more than two years even with a vaccine available by then as rubber gloves would be mandatory in daily life from now on.

Lastly, Mr. Wichai hinted that he himself also acquired an additional of STGT’s shares and the strategic play for STGT should be based upon the trend of global glove companies.

 

Read More: STGT’s 2Q Profit Soars 5 Folds to Book over ฿1Bn as Sales Tremendously Boost Revenue