Thong Guan Industries Bhd’s foray into the messenger bag segment turned to the black in just one year, as production was snapped up by US e-commerce giants.
KUALA LUMPUR: CGS-CIMB Research has upgraded the packaging sector to “overweight” from “neutral” due to the rising demand for plastic packaging products, driven by stay-at-home orders.
The research house predicts the packaging sector’s core net profit to be 12.5%, and compounded annual growth rate to be 8.7% for calender year 2020 to 2022, driven by upcoming capacity expansions.
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