KUALA LUMPUR (April 5): Comfort Gloves Bhd's share price fell to its 11-month low of 69.5 sen earlier this morning as investors remained wary of the group's products being listed under US Food and Drug Administration (FDA) alert list on March 15 this year.

As at 11:27am, the counter pared some losses to trade at 72.5 sen, down four sen or 5.23%, with 14.07 million shares done, giving it a market capitalisation of RM407.41 million.

Since the downtrend began last Wednesday (March 28), the group has lost RM221.97 million in market capitalisation.

According to the US FDA website, Comfort Gloves' wholly-owned subsidiary Comfort Rubber Gloves Industries Sdn Bhd was listed in the alert list, with six of its products being flagged.

When contacted, SJ Securities Sdn Bhd senior remisier Goh Kay Chong told theedgemarkets.com that Comfort Gloves' shipment to the US will be detained, unless the group can present evidence that the shipments are not adulterated.

"If Comfort Gloves cannot present evidence, its business will be affected and that explains the drop in its share prices," he said.

According to the group's annual report for financial year ended Jan 31, 2017 (FY17), 42.51% of its RM262.99 million total revenue came from the US, which is also Comfort Gloves' biggest market segment.