SAM shares shoot up on better prospects

PETALING JAYA: Better prospects for the main businesses of Sam Engineering & Equipment (M) Bhd have sent its shares sharply higher following a big brokerage initiating coverage on the stock.

SAM, which is involved in front-end semiconductors and the aerospace business, is seen as a “secular growth stock with high-quality end clients”, had Maybank Investment Bank (Maybank IB) Research point out that the company was well positioned to capitalise on the expected cyclical recovery of both the aerospace and front-end semiconductor sectors.