PETALING JAYA: Things are looking good for steel company Hiap Teck Venture Bhd (HTVB) as various factors are in play to boost its earnings ahead. Hong Leong Investment Bank Research (HLIB Research), which is maintaining its “buy” call on HTVB with a higher target price of RM0.52, said the company’s brighter earnings prospects are supported by various factors. “We understand that ESSB’s new blast furnace has achieved capacity utilisation of more than 95% (from around 80% in early April). The expanded capacity will boost ESSB’s contribution to HTVB. Through its subsidiaries, HTVB imports, exports and deals in steel products, metal hardware and building materials.

Source: The Star June 26, 2024 15:57 UTC