Supermax upgraded to ‘buy’

Supermax will incur additional labour cost at an average of RM1mil per month due to the minimum wage policy, or RM13mil per annum (9% of its 2013 net profit), according to Kenanga

PETALING JAYA: Value has emerged in Supermax Corp Bhd, according to RHB Research Institute as it upgraded its call on the glovemaker to “buy”.

The brokerage has indicated potential buying opportunities in the stock following the 8% decline in its share price year-to-date, despite the glovemaker’s “robust 2019 core net profit growth estimated at 17%”.