Uchi Technologies still on Hold at CIMB Research

KUALA LUMPUR: CIMB Equities Research said Uchi Technologies’s 9MFY14 core net profit was in line with expectations, forming 74% of its full-year forecast and 72% of consensus.

It said on Tuesday the company’s Q3FY14 core net profit grew by 38.2% on-year due to higher shipment volumes and a lower effective tax rate following the approval of Uchi’s pioneer status by the Malaysian Investment Development Authority (MIDA) in December 2013.