UG Healthcare Corp: Below book value and earnings stable

Paul Chew

Head of Research @ PhillipCapital

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19 May 2022

• Glove selling prices fell by around 30% YoY and glove volume sales were flat YoY

• UGHC can ramp up its trading business to take advantage of these weak prices

• The target price is pegged to a 30% discount to the Big 4 glove makers, or 5x FY22e PE

Paul Chew

Head of Research @ PhillipCapital

Follow

19 May 2022

19 May 2022

Published byPhillipCapital

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