Riverstone Holdings Limited (‘Riverstone’) is a leading global supplier of cleanroom and healthcare gloves headquartered in Malaysia and listed on the Singapore Stock Exchange (‘SGX‘). Riverstone IPO-ed in Nov 2006 at 12 cents with a ticker code SGX:AP4. As at 24 April 2020, it has a market capitalisation of SGD$881 million. The business model of Riverstone is plain and simple; it predominantly manufactures 2 types of gloves to be sold to its clients.
Business Model of Riverstone Holdings
As seen its Diagram 1, Riverstone’s main business segments can be broken down into (i) Cleanroom and (ii) Healthcare.
a) Cleanroom
Riverstone is the leader in the cleanroom glove segment, commanding close to 60% global market share for Class 10 and Class 100...