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Maybank Research said Lam’s Asia expansion and push for localisation could create interesting growth opportunities for some Singapore and Malaysia-listed suppliers in the coming years.
KUALA LUMPUR: US-based Lam Research Corporation, a leading provider of wafer fabrication equipment (WFE), which made Malaysia a manufacturing centre of excellence, plans to add further capacity which could see UWC, Fronken Corporation, Greatech and Pentamaster as among the beneficiaries, according to an analyst report.
Maybank Investment Bank Research said on Monday the company had recognised the tremendous long-term growth potential of semiconductor opportunities in Asia and it was stepping up the localisation and also upskilling the local supply chain.
KUALA LUMPUR: Maybank Investment Bank Research has downgraded Velesto to sell from buy and cut its target price to 11 sen or by 63% from 16 sen as it cut the earnings outlook due to the operational setback on its Naga 7 rig.
The research house said on Tuesday it had cut the FY21-23 earnings by 58%-144% and there was a change in view to reflect the uncertainty over the rig’s long-term availability at this juncture.
Based on various sources gathered, an unfortunate incident happened to Velesto’s Naga 7 rig during operations. One of its legs “punched through” during first preloading, which resulted in the rig tilting around 10 degrees.
Select Malaysian tech companies to benefit from sector’s upcycle Picture for illustration only. – REUTERSPIX
PETALING JAYA: The continued global semiconductor supply chain’s upcycle is expected to translate into strong earnings growth for select Malaysian technology hardware companies in 2021-2022 and support the sector’s rerating to richer valuations.
Maybank Investment Research believes the sector’s outperformance in share prices and rerating of valuations are supported by the encouraging outlook of the global semiconductor supply chain, strong near-term earnings growth catalyst, as well as robust domestic liquidity.
Currently the sector under its coverage is trading at CY21/22 price to earnings ratio of 39x/37x.