KUALA LUMPUR (May 5): Loss-making Careplus Group Bhd's share price has soared over 200% year to date (YTD) to beat bigger rivals as the Covid-19 pandemic caused an unprecedented surge in rubber glove demand.

Careplus has appreciated 234% YTD based on its share price of 53.5 sen at Bursa Malaysia’s afternoon break today, compared with 16 sen on Dec 31, 2019, valuing the company at about RM284.28 million.

Careplus had seen 75.48 million shares traded as at 12.30pm today, placing it among Bursa’s most-active stocks. 

Careplus' latest reported net asset per share stood at 18 sen.

At a YTD share price gain of over 200%, Careplus appears to have won hands down compared to larger rivals like Hartalega Holdings Bhd, Top Glove Corp Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd. 

Hartalega and Top Glove’s share prices have risen 35% and 53% YTD respectively, while Supermax and Kossan have gained 87% and 33% respectively.

Careplus reported net losses for the past three financial years. For the financial year ended Dec 31, 2019 (FY19), its net loss widened to RM5.75 million from RM1.42 million for FY18, according to the company's quarterly reports to Bursa. For FY17, Careplus said it registered a net loss of RM1.92 million.

As at Dec 31, 2019, Careplus had RM6.2 million in cash and cash equivalents as well as RM87.15 million in borrowings.