The key surprise to Ong came from the stronger-than-expected 20% quarter-on-quarter spike in the Average Selling Prices (ASPs) in its healthcare segment.
CGS-CIMB Securities’ liking for Riverstone Holdings has heightened since its earnings announcement for 1H2020 ended June 30.
This comes as the personal protective gear manufacturer’s 95% quarter-on-quarter and 180% year-on-year increase in net profit to RM91 million ($29.8 million) is “above expectations”, says analyst Ong Khang Chen. He had expected the counter’s net profit to come in at RM27 million for the quarter.
