Analysts from RHB Group Research and UOB Kay Hian are keeping their “overweight” call on the Singapore technology sector.To RHB analyst Jarick Seet, his call comes despite potential headwinds such as rising operational costs that may erode margins and amid a potential slowdown in the semiconduct...

Fu Yu Corporation has reported net profit of $6.0 million, up 17.6% y-o-y for the 1QFY2022 ended March. Of the sum, $1.6 million came from Fu Yu Supply Chain Solutions, which offset the net profit decline from the group’s manufacturing business due to lower foreign exchange gains.During the quarte...

For banking and finance veteran David Seow, the African proverb “If you want to run fast, run alone. If you want to run far, run together” carries a particular resonance — it encapsulates his core management values of teamwork, communication, innovation and action.“Each person’s contributi...

RHB Group Research analyst Jarick Seet has upgraded his recommendation on the Singapore technology sector to “overweight” from “neutral”. His upgrade comes after the recent correction within the tech sector, which resulted in undemanding valuations, especially that of Singapore-listed counte...

Hit by lower China sales, Fu Yu Corp faces a challenging outlook ahead, says RHB Group Research analyst Jarick Seet. “We expect margins to likely remain weak for the next few quarters and revenue to stay low. This can be attributed to a shortage of shipping containers and labour, as well as logist...

The lack of chips and parts across the supply chain will continue supporting the outperformance of the semiconductor segment, says RHB Group Research analyst Jarick Seet. In a note, Seet says the planned construction of about 29 new fabrication facilities in the next few years should ensure high dem...

CGS-CIMB analyst William Tng has reiterated his “add” call on Fu Yu Corporation with a lower target price of 33 cents from 35.5 cents. The reduction comes as his Gordon Growth-derived price-to-book value (P/BV) rises to 1.59 times from 1.49 times before on FY2021 BV/share. That said, Tng has rai...

Manufacturer Fu Yu Corp has reported revenue of $70.4 million for 1HFY2021, down 1.7% y-o-y, as the drop of its sales in China offset gains in Singapore and Malaysia. However, earnings for the same period increased by 20.1% y-o-y to $8.86 million. The company plans to pay an interim dividend of 0....

The semiconductor upcycle will likely continue, with global powers fighting for chip dominance and independence, shortage of chips supply, as well as an increased demand for chips, says RHB Group Research Jarick Seet. Seet is maintaining “neutral” on the sector, with “buy” calls on top picks...

DBS analyst Chung Wei Le has kept his “buy” call and 40 cents price target on Fu Yu Corp following the manufacturer’s US$4.5 million acquisition of Avantgarde Enterprise. The privately-held company, which was sold by one Hu Huilan, was incorporated in Singapore on Nov 2019 and is in the provis...

Sinostar PEC Holdings has appointed Chen Seow Phun, John as lead independent director of its board as of June 1. Chen was the Minister of State for Communications & Information Technology and Minister of State for National Development between 1999 to 2001. He was also a Minister of State for Com...

DBS Group Research analysts Chung Wei Le and Ling Lee Keng have maintained “buy” on Fu Yu Corporation as the company reported stable revenue of $34.7 million in the 1QFY2021 ended March and 23.2% higher gross profit of $8.5 million during the same period. On this, the analysts have upped the com...

Singapore has been dealing with the Covid-19 pandemic for over a year now and several new trends have risen in the market amid the “new norms”. In RHB Securities Singapore’s 20 Jewels 2021 Edition, the research house notes that while Covid-19 caused a steep correction in global markets, especi...

Fu Yu Corporation has reported revenue of $34.7 million for the 1QFY2021 ended March, 0.3% lower than revenue of $34.8 million for the 1QFY2020. The figure was supported by the stronger sales of the group’s operations in Singapore, which was offset by the lower sales from the China segment in the ...

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