PETALING JAYA: Resin felt manufacturer Oceancash Pacific Bhd
’s (OCP) new non-woven product capacity, which is expected to be completed by early 2022, has raised analysts’ predictions of its earnings.
In a note to clients, research house CGS-CIMB said it has raised the group’s financial year 2022 (FY22) earnings per share (EPS) forecast by 59.7% on expectations that a higher production capacity will boost the company’s income.
“We have also raised our FY21 EPS by 37.3% as we expect OCP’s felt insulation production to be ramped up in FY21 post-the expected commissioning of its Thailand facility in the first quarter of this year.”
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