UMS Integration - Maybank Research 2025-07-21: Bursa Listing A Positive Catalyst

• With its secondary listing on Malaysia’s Bursa on 1 Aug, we expect UMS (SGX:558)'s valuations to be lifted to closer to that of its Malaysian peers as they are trading at an average of around 25-35x P/E.
• - Read this at SGinvestors.io -

Malaysia revenue to kickstart quarterly growth

• UMS's revenue from Malaysia surged 287% y-o-y to S$9.4m from S$2.4m, mainly due to the production ramp up of semiconductor components for the new major customer. Management expects to hit a revenue target of S$1.5m/week by end-2025. It is currently at a S$0.6-0.65m/week run-rate.
• - Read this at SGinvestors.io -
• All in all, we expect UMS's revenue to improve q-o-q from 2Q25 onwards.

Malaysian listing should boost valuation

• 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:
2025-08-13 UMS Integration - A Better 2H25.

Price targets by other brokers at UMS Target Prices.

Listing of research reports at UMS Analyst Reports.

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