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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
