Plastics manufacturer Fu Yu Corp is looking forward to growth again, says CGS-CIMB Securities who is maintaining its “hold” call on the counter at a revised target price of 24 cents. 

This is up 3.3 cents from its previous 20.7 cent call and is expected to has a 0.1% upside from the counter’s 24 cent price on September 10, analyst William Tng explains.

His optimism comes from the near completion of Fu Yu’s rightsizing of its loss-making operations in China. This involves the closure of its factory in Chongqing by December to streamline and optimize manufacturing operations across Asia.

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