Riverstone expects healthy demand for cleanroom and healthcare gloves
Its CEO says there is sustainable demand for cleanroom gloves as more such facilities are being built and demand for chips and electronic items climb.
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
FOLLOWING a banner year for glove maker Riverstone Holdings in 2021, investors might start to worry about how sustainable the Malaysian manufacturer's earnings are in 2022 and beyond.
Riverstone's top line rose 68.5 per cent to RM3.1 billion (S$1 billion) in FY2021 as demand and average selling prices for both healthcare and cleanroom gloves surged amid the pandemic. Earnings more than doubled to a record high of RM1.4 billion on higher turnover and margins.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
