Plastic players to be buoyed by better margins

TheStar Wed, Jan 18, 2023 12:00am - 2 months View Original

Kenanga Research said it liked Thong Guan for its earnings stability underpinned by a more diversified product portfolio and its growth prospects.

PETALING JAYA: It’s a mixed outlook for the plastic packaging sector in the country as an expected slowdown in demand will be mitigated by better margins.

Kenanga Research, which has reiterated its “neutral” call on the sector, said plastic packaging players have put in place fairly aggressive expansion plans to take advantage of eroding competitiveness of their overseas rivals.

“On a more cautious note, we expect a less favourable demand outlook for the sector in 2023 on the back of a slowing global economy,” Kenanga Research told clients in a report.


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