RHB Research added that the target price and earnings revisions, particularly for the financial year 2021, were mostly negative as the impact of the lockdown was worse-than-expected with Leong Hup International Bhd, AEON Co (M) Bhd and Padini Holdings Bhd dipping into the red. (File pic shows Aeons Kinta Mall)
PETALING JAYA: Prospects of a sustained recovery is giving renewed hope for the consumer sector.
This is following the successful ramp up in the vaccination progress, which includes a larger proportion of dependents/teenagers and booster shots.
The government spending in the recent Budget 2022 also lends support to consumption and retaining jobs, which would underpin the sector’s fundamentals going into the financial year 2022, said RHB Research.
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