Kenanga deprecates rubber glove makers


Kenanga Research deprecated the Malaysian rubber glove makers from overweight to neutral.



Kenanga said on Thursday that there is a high possibility that Ringgit will continue to become strong against dollar, warning the rubber glove industry players of a slow earning growth.



The Malaysian glove makers have enjoyed the low prices of latex but the recent earnings from this sector were below of what they have been expecting.



Kenanga already cut the target price on Top Glove Corp to RM 5.36 per share which fell to 0.77% at 5.14 Ringgit per share. (PRA)