Gloves – Malaysia Blooming In Spring

UOB KH maintain overweight on the Malaysian glove sector.

The Malaysian glove sector is officially out of the woods with anticipation of sequential earnings growth coming into fruition throughout 2024. They have also observed a feasible trend of improving operating statistics from the past few quarters. With this and the US' precipitous tariff hike on China's medical-grade gloves beginning 2026, they re-affirm their optimism that potential valuation re-rating may continue to catalyse the sector's positive share price trajectories.

UOB KH maintain buy on TOP Glove with tp of MYR 1.28.