Hi-P International

MBKE's Lai is reiterating his "buy" calls on other tech stocks such as Frencken Group, UMS Holdings, AEM Holdings and Venture

The couple, who already hold 83.5% of the company, do not intend to revise the offer.

CGS-CIMB initiates a “hold” rating for Hi-P International, believing its strong balance sheet will support M&As that drive growth

Analysts are keeping a rather bearish stance on Hi-P International following weaker 1H20 earnings of $24.2 million, down from $25.0 million in 1H19.

This translates to earnings per share (EPS) to 3 cents, down 3.8% from the 3.12 cents during the same period last year.

Maybank analyst Lai Gene Lih identifies AEM Holdings to be the brokerage’s top tech sector pick, while remaining positive on UMS Holdings and Valuetronics. In contrast, the brokerage has downgraded Venture Corp and Hi-P International to "sell".

Bumitama Agri, Valuetronics and Genting Singapore are among the stocks to watch this week.

"We remain cautious on Hi-P as for certain products, Hi-P is exposed to long supply chains that may currently be facing production bottlenecks as a result of Covid-19,” says lead analyst Lai Gene Lih.

Hi-P also announced its profit guidance for FY2020. On a y-o-y basis of comparison, the group expects to book a lower revenue and profit for 1HFY2020 c but a higher revenue and lower profit for FY2020.

SINGAPORE (Oct 11): Dyson, better known for its vacuum cleaners before unveiling a bold plan to make electric vehicles, has spiked its EV project.