0533 GMT - Riverstone Holdings faces an earnings hit from a weak U.S. dollar versus the Malaysian ringgit, CGS International's William Tng says in a research report. The average rate of USD/MYR was 4.2261 in 3Q, down from 4.3080 in 2Q, the analyst notes. Factoring in a still-weak dollar versus the ringgit, which affects the Singapore-listed Malaysian glove manufacturer's export-oriented business, the brokerage reduces its 2025 net profit forecast for Riverstone by 8.3%. However, CGS International reiterates the stock's add rating and the target price of S$0.91 as the brokerage's projected 2025 net profit decline for Riverstone seems priced in. Shares are 1.2% higher at S$0.83. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 14, 2025 01:33 ET (05:33 GMT)
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