MALAYSIA-based Kenanga Research said that rubber gloves will continue to be in demand at an annual average of 10% in Malaysia, also emphasising an incline towards nitrile-based gloves, which had consistently taken a significant share in the rubber gloves market.
“We expect the sector to remain resilient as the bird flu in China is expected to increase, thus boosting demand for examination rubber gloves,” Kenanga said, adding that it has upgraded the rubber glove sector from a “neutral” rating to an “overweight” and picked Kossan Rubber Industries with a target price of RM4.23. Meanwhile, shares of Kossan rose 0.77% to RM3.92; Top Glove’s rose 0.49% to RM6.20, and Hartalega’s remained unchanged at RM5.29.