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KUALA LUMPUR: AmInvestment Bank Research has initiated coverage on Globetronics Technology Bhd with a "hold" recommendation and a fair value of RM2.39 a share, pegged to an FY21 price-earnings of 24x.
KUALA LUMPUR: Bursa Malaysia closed lower on Wednesday as the Wall Street tech sell-off contagion effect spread to key Asian markets.
KUALA LUMPUR: Investors in all Asian markets suffered losses as the overnight fall on Wall Street battered sentiment including Bursa Malaysia where the FBM KLCI fell below the key 1,500 level.
KUALA LUMPUR: UOB Kay Hian Malaysia Research has cuts is FBM KLCI earnings forecast by 3.4% due to the poor 2Q20 results season but raised its 2021 forecast by 5.5% to largely account for further upgrades of glove makers.
THE standoff between the two economic giants that has only intensified since 2018 is causing the global technology supply chain to start crumbling.
Operations are sustainable for up to 60 months
PETALING JAYA: Despite the challenging market, Globetronics Technology Bhd is cautiously optimistic of achieving satisfactory results for the financial year ending Dec 31,2020.
KUALA LUMPUR: Globetronics Technology Bhd, a maker of integrated circuits and optoelectronic products, said its second quarter results were affected by supply chain disruption due to the Covid-19 pandemic.
THE electronics manufacturing companies in Penang expect good prospects for the next six to nine months, due to the impact of the worsening US-China trade war.