Frencken Group - Maybank Research 2024-08-07: Correction Presents Attractive Opportunity

• We believe the recent correction in Frencken's share price is unjustified and has presented an attractive opportunity for accumulation. Frencken (SGX:E28) will report 2Q24 results on 14 Aug (see earnings calendar) and we expect 2Q24 to perform better than 1Q24.

Q-o-Q improvement likely for 2Q24E

• - Read this at SGinvestors.io -
• South East Asia utilisation has picked up to 60-70% from 50+% in 3Q23, which is highly encouraging and should point to a stronger 2Q24E y-o-y.

Huge potential with semi-con clients – AMAT & ASML

• - Read this at SGinvestors.io -
• We think that there is a huge potential to grow significantly with its largest semi-con customers from FY25E to FY27E, especially with the worsening trade relations between the US and China.

Best proxy for semi-con recovery

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-11-17 Frencken - Short-term Weakness In 4Q.

Previous report by Maybank:
2025-08-17 Frencken - 2H25 Guidance Disappointing.

Price targets by 2 other brokers at Frencken Target Prices.

Listing of research reports at Frencken Analyst Reports.

Relevant links:
Frencken Share Price History,
Frencken Announcements,
Frencken Dividend Payout Dates & Corporate Actions,
Frencken News