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Analysts mixed on UG Healthcare following halt in glove production due to EMCO

Atiqah Mokhtar
Atiqah Mokhtar7/13/2021 5:11 PM GMT+08  • 3 min read
Analysts mixed on UG Healthcare following halt in glove production due to EMCO
RHB and CGS-CIMB have retained their respective 'neutral' and 'add' ratings for UG Healthcare.
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Analysts from RHB Group Research and CGS-CIMB Research have given mixed reactions to UG Healthcare’s announcement on July 12 that it was halting operations of its manufacturing plants in Seremban temporarily due to Malaysia's Enhanced Movement Control Order (EMCO) from July 9 to July 22.

See also: UG Healthcare to see further 2.4% drop in glove production due to EMCO

RHB’s Singapore research team views the development as negative to UG Healthcare’s near-term earnings. The company disclosed that the plant closure will affect its production by 80 million pieces of gloves, or 2.35% of total production.

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