Yew Lee Continues to Stand Strong, What is Brewing Behind?

From the chart itself, we could see that Yew Lee (0248)’s share price is entering a consolidation phase, as per what PBIV had mentioned. PBIV had highlighted the short term TP of the industrial brush maker would be 42.5 cents and 44.5 cents. However, I think the company could even go much higher than that.

In mid of March 2024, the factory of Yew Lee was officially launched. And as we can see from the recovering glove market in Malaysia and Thailand, the launching of this factory is expected to yield positively to the company. As you may have already been made aware, the recent losses of Yew Lee are primarily due to the trading business. The manufacturing business, on the other hand, is performing well.

In the capital market, we always believe that price moves ahead of fundamental changes. Given the strong share price of Yew Lee at current level, will we see more positive news coming for the company soon?