The Line change was initiated by a positive earnings results, reporting that the group's change in business model proofs to be a success. Its upstream business (plants in India and facilities in Malaysia) are seeing growth momentum.
The group sees further organic growth with further expansions via M&A in the pipeline for both its upstream and downstream markets.
Probable Trade Set-up:
T: S$0.75 / S$0.85
R/R Ratio: 1.23x / 2.77x