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Sector - Consumer Products
Research by RHB
Neutral (Maintained)

"Cautiously Optimistic On 2022’s Recovery"

Maintain NEUTRAL. We believe the worst is behind us and prospects of a
sustained recovery are now more solidified, thanks to the successful rampup in vaccination progress, which now includes a larger proportion of
dependents/teenagers and booster shots. Government spending –
announced in the recent Budget 2022 – in lending support to consumption
and retaining jobs, would underpin sector fundamentals going into FY22F.
We see more opportunity in the small-to-medium cap space to ride on the
wave of the recovery theme.

Soong Wei Siang
T +603 9280 8865
E soong.wei.siang@rhbgroup.com

Raja Nur Aqilah Raja Ali
T +603 9280 8885
E https://raja.nur.aqilah@rhbgroup.com

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