The RHB economics team expects USD/MYR to average 4.05 in 2H18 and 4.10 in 1Q19, mainly driven by the view that inflation could surprise on the upside, resulting in higher-than-expected interest rates that could benefit the USD.
SINGAPORE (Apr 24): RHB is initiating coverage on UG Healthcare with a “buy” recommendation and a target price of 32 cents, as the research house is positive on the long term global demand growth for gloves, with demand rising at a 5.7% CAGR over the past 12 years.
In a Monday report, analyst Leng Seng Choon says, “Our expectations of an appreciating USD vs MYR would also indicate an improved earnings outlook for glove manufacturers.”
