PLASTIC PACKAGING
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Research by Kenanga
Overweight 

“Sustained Orders”

We maintain OVERWEIGHT for the sector. Plastic packaging players guided for sustained orders for their products during the remainder of CY24 backed by the recovery in manufacturing activities and consumer spending globally, following restocking by their customers during the early part of the year. Over the long term, local players are poised to gain market shares from overseas producers given local player’s low cost structure, better economies of scale and product innovation especially sustainable plastic packaging materials. Our sector top pick is TGUAN (OP; TP: RM2.86).

Analyst(s):
Thin Yun Jing 
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PLASTIC PACKAGING
$KLSE-TGUAN 
Research by Kenanga
Overweight 

“Sustained Orders”

We maintain OVERWEIGHT for the sector. Plastic packaging players guided for sustained orders for their products during the remainder of CY24 backed by the recovery in manufacturing activities and consumer spending globally, following restocking by their customers during the early part of the year. Over the long term, local players are poised to gain market shares from overseas producers given local player’s low cost structure, better economies of scale and product innovation especially sustainable plastic packaging materials. Our sector top pick is TGUAN (OP; TP: RM2.86).

Analyst(s):
Thin Yun Jing 
thinyj@kenanga.com.my

$TGUAN / 7034 (THONG GUAN INDUSTRIES BERHAD)