MORNING CALL:21/11/23 - video Dailymotion

Skip to player Skip to main content Skip to footer

11/20/2023

Kenanga says the pie is growing again for P.I.E. Industrial

Category

Transcript

Display full video transcript

00:00 As result season gets into full swing, Kenanga has upgraded its target price on PIE Industrial

00:06 from RM3.61 to RM3.80 after fine-tuning its profit projections.

00:12 This implies a possible upside of 14% from current levels.

00:16 PIE's nine-month Cornette profit of RM45.6 million was within both Kenanga and The Street's

00:21 expectations as the research house anticipates a seasonally stronger fourth quarter.

00:27 Year-on-year, PIE's nine-month revenue grew 11.6%, driven by robust deliveries from its

00:32 bread-and-butter EMS segment, which more than offset the decline in the raw wire and cable

00:38 business.

00:39 Net profit grew at a more moderate rate of 5.1%, impacted by earlier temporary slowdowns

00:44 and adjustment to increased electricity tariffs.

00:47 Aligned with its seasonality, the group is looking forward to a stronger quarter ahead

00:50 based on higher demand for communication-related devices from Customer M for military use amid

00:56 the heightened geopolitical tension in the Middle East, the resumption of orders from

01:00 Customer A and the gradual ramp-up of a new model for Customer N.

01:04 Additionally, PIE has secured four new clients with products focusing on sensors, drones,

01:09 medical devices and smart home devices.

01:12 Kenanga raises its FY20 for earnings by 5% to account for higher contributions from the

01:17 four new customers.

01:18 Bloomberg's latest has two buy calls on PIE and that works out to an average target price

01:23 of RM3.85, which is 51 cent more than its last close.

01:27 [Music]

Recommended

1:51

Up next

MORNING CALL:2/2/23

2/1/2024

6:06

NEWS: JF Tech’s Foong Wei Kuong named EY Entrepreneur of the Year

12/18/2023

1:33

MORNING CALL:18/12/23

12/17/2023

6:50

EVENING 5: Low value goods sales tax kicks in Jan 1

12/15/2023

3:19

Jalan Jalan Old Pudu

12/15/2023

1:39

MORNING CALL:15/12/23

12/14/2023

6:43

EVENING 5: Tenaga names Megat Jalaluddin as next president and CEO

12/14/2023

1:40

MORNING CALL:14/12/23

12/13/2023

7:37

EVENING 5: Sime Darby CFO Mustamir takes the helm at UMW

12/13/2023

1:34

MORNING CALL: 13/12/23

12/12/2023

6:55

EVENING 5: PM Anwar shakes up Cabinet

12/12/2023

1:05

NEWS: DAP not the biggest winner in Cabinet rejig, says Loke

12/12/2023

1:18

NEWS: Ramkarpal voluntarily vacated position, says Loke

12/12/2023

0:34

NEWS: Dr Dzul’s experience needed in MoH

12/12/2023

1:13

NEWS: PM splits Communications and Digital Ministry

12/12/2023

0:52

NEWS: EPF CEO confirmed as finance minister II

12/12/2023

10:15

NEWS: Amir Hamzah in, V Sivakumar out in Cabinet rejig

12/12/2023

2:09

MORNING CALL: 12/12/23

12/11/2023

7:03

EVENING 5: EPF CEO tipped to be finance minister II

12/11/2023

2:01

EDGE WEEKLY: No quick solution to old-age poverty ‘time bomb’

12/11/2023

5:43

NEWS: Matrix Concepts shoots for the stars

12/11/2023

1:21

MORNING CALL:11/12/23

12/10/2023

7:01

EVENING 5: YTL Power strikes deal with NVIDIA

12/8/2023

1:59

NEWS: Pacific Senior Living launches Acacia

12/8/2023

0:51

Former Aide Claims She Was Asked to Make a ‘Hit List’ For Trump

9/27/2023