MY : KESM Industries - Testing times

9MFY21 results missed expectations as the group slipped into core net loss due to lower-than-expected utilisation from EMS, burn-in and test in 3QFY21. We cut our FY21-23F by 9-64% to reflect lower utilisation from ongoing wafer shortages and unfavorable sales from lower margin products. Retain Hold with a lower RM11.70 TP, on a lower 1.4x P/BV.

Most Viewed See latest

This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...

Full Tellimer disclaimers