Riverstone

Riverstone: UOBK maintains Buy with TP $1.14. Notes that mgt's NDR in Singapore reaffirms its positive view. Capacity expansion remains on track and demand for Riverstone's new capacity for phase 1 looks intact, comprising 1b glover pa to be completed by end 2014. This will boost production capacity by 31% to 4.2b gloves , with full impact on earnings to be felt in FY15. Sees a visible 3 yr EPS CAGR of 15%.