UWC leads the tech pack

WITH the semiconductor upcycle well on its way, precision engineering companies on Bursa Malaysia seem to be on a tear. The handful of stocks in this sector now trade at an average historical price-to-earnings ratio (PE) of more than 50 times.

Leading the pack is UWC Bhd, the Penang-based group that is testament to the spillover effect of the large foreign direct investment the state has secured from global semiconductor players – UWC counts two global players who have major operations in Penang as key customers.