<div class=newsTextDataWrapInner>KUALA LUMPUR (Aug 27): Tomypak faces continued margin pressure ahead, Maybank Kim Eng says after 2Q earnings came in sharply weaker on year and below consensus, prompting the brokerage to downgrade the Malaysian food-packaging group to sell from hold.&nbsp;</div>

<div class=newsTextDataWrapInner>Although going forward core earnings are expected to be supported by new overseas sales orders, operational cost savings and the utilization of a reinvestment tax allowance, Maybank KE expects the need to maintain competitive pricing will erode Tomypak's profit margin further.&nbsp;</div>

<div class=newsTextDataWrapInner>Maybank cuts its target on Tomypak to 23 sen from 49 sen.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

Tomypak faces continued margin pressure ahead, Maybank Kim Eng says after 2Q earnings came in sharply weaker on year and below consensus, prompting the brokerage to downgrade the Malaysian food-packaging group to sell from hold.

Maybank Kim Eng : Tomypak's troubles aren't over yet

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Uber Technologies Inc was sued by thousands of London’s black cab drivers in a suit seeking hundreds of million pounds, accusing it of unlawfully operating in the capital city.

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