SINGAPORE (Dec 14): UOB Kay Hian is keeping its “hold” call on glovemaker Riverstone Holdings amid expansion at its Taiping plant in Malaysia going according to plan.
UOB is recommending a target price of 94 cents at an entry price of 80 cents.
Riverstone is on a 5-phase expansion project to bring total production capacity to 8.2 billion pieces of gloves by 2018. The company plans to increase production capacity by 1 billion pieces each year.
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