Kino posted strong performance in 1Q20, supported by personal care and beverage segments as its main contributors. In addition, KINO decided to liquidate its two joint ventures with the Malee group as a form of streamlining its organizational structure and changing the company’s business model. Coupled this with the eroding purchasing power due to the pandemic, we project KINO’s short – term profitability to take a hit. However, we still view KINO as a HOLD for longer-term investment option.
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