Goodpack (G05.SG) up 3% at $1.70 as investors read establishment of $300 million multi-currency medium-term note programme as sign of company making headway in its bid to ride on global economic pick-up, says Dow Jones.

Supplier of intermediate bulk containers will use proceeds to fund working capital, capex needs, pare debt. Move comes at time when Goodpack seeking to expand into new business segments, including automotive parts, LCD panels, farm produce.

“We believe that the medium-term note programme will be used mainly for increased marketing activities, acquisition of more intermediate bulk containers and other expansion costs in relation to Goodpack’s aggressive expansion into the new segments,” says DMG, which has Buy call with $1.85 target.

Resistance expected at current month high of $1.73 set last week.