Riverstone

Riverstone: Share price hit a 52 week high yesterday after the release of its phenomenal first quarter results, which reflected the outperformance against other rubber manufacturing peers such as Top Glove and Hartalega, proving that the company is capable of catching up with the market leader. The net margin surprise was due to favourable raw material prices, Riverstone’s abilities in withstanding pricing pressure as well high plant utilisation rate. OSK DMG reiterates Buy with TP of $1.15, citing that Riverstone has the capacity to enjoy the fastest growth ever in the next five years, despite the current industry headwinds.