Affin Hwang downgrades Scientex to 'hold' on lower packaging margin
KUALA LUMPUR (March 10): Affin Hwang Capital has downgraded its rating for Scientex Bhd to "hold" from "buy", as it expects further margin squeeze in the group’s manufacturing segment in the subsequent quarters. Its analyst Azhani Hashim said in a note today the flexible plastic packaging manufacturer’s core net profit of RM189 million for the six months ended Jan 31, 2021 (1HFY21) made up 42% of street’s and his full-year FY21 forecasts. “While the property segment recorded higher sales and progress billings, the manufacturing segment saw a 1.6 percentage point decline in earnings be...
Source: theedgemarkets.com