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Negative surprise from Supermax, CIMB Research downgrades to Hold


KUALA LUMPUR: CIMB Equities Research has downgraded glove maker Supermax Corporation Bhd from Add to Hold following the negative surprise about the conviction of managing director Datuk Seri Stanley Thai for insider trading.

The research house said it had lowered the 12-month target price from RM2.46 to RM2.03 which is 12 times CY19 price-to-earnings. Its last traded price was RM2.09.

Analyst Reports , Corporate News

   

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