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Tony Morberg, CFA
Co-founder & CEO @ Medela Gloves | Critical safety & protective supplies for American companies | FDA 510K, ASTM
Tony Morberg is the Co-founder and CEO of Medela Gloves, a company specializing in the manufacturing of nitrile gloves. He has over 17 years of experience in various roles related to finance and investment, including positions as an Advisor at Keona Health and Corporate Investment Director at the Arensis Group. His career also includes significant roles in investor relations and risk management at several organizations, such as the Los Angeles Cleantech Incubator and Asian American Gas Ltd.
Morberg holds the Chartered Financial Analyst (CFA) designation and is proficient in both English and Chinese. He has been leading Medela Gloves since March 2022, focusing on providing high-quality protective gloves for various sectors, including healthcare and food industries.1
Highlights
President Biden unveils historic wave of tariffs on 'strategic' Chinese imports
How are you thinking about the next 3-5 years? Stability, quality, and service?
- raises duties on $18 billion in Chinese imports.
- will touch an array of sectors, with steel to semiconductors to medical products feeling new duties as soon as this year.
- Trump is proposing historically high new tariffs, including a 60% tariff on imports from China.
Medical Products The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026.
Malaysian glove makers recording positive QoQ profit growth
Summary of RHB Investment Bank Research - expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth - predicated on the pick-up in export value (1Q2024: +10%) as well as a stabilized average selling price (US$20 per 1,000 pieces). - expect operating costs to inch up higher in 1Q24 o gas tariff o natural rubber and acrylonitrile prices o strengthening US dollar - it expects sales volume to pick up sequentially in view of a more balanced demand-supply dynamic by 2H2024 - “We also expect price competition risk from Chinese peers to gradually subside, premised on: i) Quality concerns resulting in higher rejection rates from the US Food & Drug Administration (FDA), and ii) Chinese players’ pivoting stance towards sustainability.
