Riverstone Holdings on track to raise production capacity

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SINGAPORE (Aug 20): CGS-CIMB is maintaining its “add” call on Malaysia-based glove manufacturer, Riverstone Holdings, with a target price of S$1.30.

This came on the back of the research house hosting a non-deal roadshow for the group in Kuala Lumpur, which saw investors displaying a keen interest in the group.

In a Friday report, analyst Colin Tan says, “We stay positive on its earnings growth outlook as Riverstone is on track to raise annual production capacity by 18% to 9.0 billion gloves by end-FY18F and subsequently, to 10.4 billion by... (Click here to read the full story)