Category: Industry News

CIMB Research maintains hold on Top Glove

CIMB Equities Research is maintaining its Hold recommendation on Top Glove and prefers Kossan which is its top pick in the glove manufacturing sector. It said on Friday Top Glove’s earnings growth will continue to be under pressure due to…

Tyres import causing loss of Rs5 billion to exchequer

The import of under-invoiced tyres continues unabated, rendering a massive loss of five billion rupees every year to national kitty, an industry source told The News on Thursday. Khurram Suriya, proprietor of Suriya Motors, said the import of tyres under…

China sales for Rhein Chemie post highest growth

German chemicals firm Rhein Chemie, a wholly owned subsidiary of speciality chemicals company Lanxess, achieved global sales of EUR346 million in fiscal 2013, a slight increase over the previous year (EUR344 million). The strong euro in particular put a dampener…

Butadiene price rises by a third

The price of the industrial chemical butadiene, which is used to produce synthetic rubber, has risen 33 per cent since August last year. Data from analyst Mintec has shown that “steady global demand and ongoing tight supplies” in Europe and…

Hankook: More tyres in 2014 Great Catch rebate

Hankook Tire Corp. has expanded its Great Catch consumer mail-in rebate promotion for 2014 to include more passenger and light truck products as well as its newest Ventus tyres. Opening day for the company’s baseball-themed promotion is April 1, when…

TBC launches 11 more Arctic Claw sizes

TBC Wholesale is further expanding its Arctic Claw studdable winter tyre line for the 2014-2015 winter season. The company is targeting later model vehicles and “progressive” original equipment fitments with 11 new sizes. That increases the Arctic Claw size lineup…

Vietnam becomes world’s third biggest rubber producer

Vietnam has surpassed Malaysia and India to become the world’s third biggest rubber producer, according to the latest statistics released early this month by the Association of Natural Rubber Producing Countries (ANRPC). The country produced 1.043 million tons of natural…