SINGAPORE (Oct 23): Singapore-listed rubber glove makers Riverstone and UG Healthcare are trailing their Malaysian counterparts in a rally that may still yet help them gain further on M&A speculation, Maybank Kim Eng says in a note.

The brokerage maintains its buy rating on both stocks, noting that they trade at “deep discounts” to their peers despite recent gains.

The driver for much of the enthusiasm in Malaysia is down to the perceived ambitions of industry leader Top Glove for M&A opportunities, as well as a weak ringgit, Maybank notes.

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