Halting operations in EMCO areas
■ UGHC was spared from the imposition of EMCO in Selangor, but the
extension of EMCO to Seremban caused it to temporarily halt operations.
■ RSTON remains the least impacted glovemaker (by the EMCO) under our
glove coverage, as most of its operations are located in Taiping, Perak.
■ We see limited share price reaction to UGHC’s latest announcement, as it
has trended in line with peers since announcement of Selangor EMCO.