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Mercury Securities said currently, SumiSaujana Group Bhd is its only “buy” recommendation.
“Because this company manufactures specialty chemicals for the oil and gas industry, it relies largely on imported input materials – leaving its cost base exposed to input prices, the exchange rate, and freight,” the research house pointed out.
Meanwhile, Mercury Securities said among the five companies under its coverage, only two came in above expectations, which were SumiSaujana and HSS Engineers Bhd.
Margins were the factor that determined performance rather than volume.
