We attended a conference call yesterday hosted by SCGM’s management with more guidance on the newly-established healthcare protection gear business obtained. With a relatively small capital expenditure (capex) of RM1m, production of the face shields and face masks can potentially generate up to RM4m in sales per month despite the manufacturing plant only operating at a maximum utilization level of 50% during the Movement Control Order (MCO) period. Meanwhile, the company is likely to see huge savings from resin costs in the coming months given the current low oil prices, which will further translate into margin expansion for the Group. Maintain Trading Buy call with an unchanged TP of RM2.20.
Source: PublicInvest Research - 1 Apr 2020
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SCGMCreated by PublicInvest | Jul 15, 2024
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2020-05-08 20:50