reports
Vitrox Corporation Berhad: 1 director
A director at Vitrox Corporation Berhad sold 60,900 shares at 3.600MYR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two year...
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 2Q24: Below Expectations; Recovery Is ...
2Q24: Below Expectations; Recovery Is In Sight But Momentum Still Slow Below expectations. Vitrox Corporation (Vitrox) reported a soft 2Q24 net profit of RM28.1m (+63% qoq, -25% yoy), bringing 1H24 net profit to RM45.3m (-36%), accounting for 31%/28% of our/consensus estimates respectively. The negative deviation was due to the softer demand from both its Automated Board Inspection (ABI) and Machine Vision System (MVS), amid a slower-than-anticipated cyclical recovery. The weaker sales in 2Q24 m...
- Desmond Chong Chee Wai
Technology - Room For Further Sector Growth
Room For Further Sector Growth Despite the sector’s outperformance ytd, we see room to grow, backed by an early cycle of recovery, stronger earnings momentum, ample trade diversion opportunities and supply chain entrenchment. Additional impetus will come from the government’s supportive measures to anchor the much-needed resources for further value chain advantages. We like companies with strong orderbook backlogs and are frontrunners with structural growth themes. Maintain OVERWEIGHT.
7155 SKP RESOURCES BHD
0097 VITROX
INRI INARI AMERTRON BHD
PENT PENTAMASTER CORP BHD
VITRO VITROX CORP BHD
GTB GLOBETRONICS TECHNOLOGY BHD
VSI V.S. INDUSTRY BERHAD
GREATEC GREATECH TECHNOLOGY BHD
CORAZA CORAZA INTEGRATED TECHNOLOGY BERHAD
SFPTECH SFP TECH HOLDINGS BERHAD
NATGATE NATIONGATE HOLDINGS BHD
TTVHB TT VISION HOLDINGS BERHAD
CEB CAPE EMS BERHAD
OPPSTAR OPPSTAR BERHAD
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 1Q24: Below Expectations, But On The M...
1Q24: Below Expectations, But On The Mend For A Stronger 2H24 While Vitrox still registered a soft 1Q24 on its fifth consecutive yoy sales contraction, the negative quantum has narrowed further. Meanwhile, its bill-to-book ratio stayed at 1.0x parity. Vitrox’s efforts in continuous innovation of new products, coupled with its market expansion activities into the high growth segment, are paving the way for the group’s recovery in 2H24. We believe the near-term positive prospects have been priced ...
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 4Q23: Below Expectations; But Recovery...
4Q23: Below Expectations; But Recovery Is In Sight Below expectations. Vitrox Corporation (Vitrox) reported a soft 4Q23 net profit of RM26.6m (-27% qoq, -50% yoy), bringing 2023 net profit to RM128.3m (-36%) and accounting for 86%/89% of our/consensus estimates respectively. The negative deviation was mainly due to the demand push-out from its machine vision system (MVS), amid the extended global economic challenges and a slower-than-anticipated cyclical recovery.
- Desmond Chong Chee Wai
Technology - On The Brink Of A New Dawn; In A Constellation Headed For...
On The Brink Of A New Dawn; In A Constellation Headed For A Spurt The sector is in a constellation headed for a spurt again after multiple rounds of Davis’ Double Killing effects especially after a disappointing 3Q report card which sent valuation rifts back to mean reversion. Most importantly, signs of recovery are more apparent backed by an imminent growth recovery towards 2024 on improved visibility guided by local bellwethers. We like companies that have strong orderbook backlogs and are fro...
7155 VITROX
0097 INARI AMERTRON BHD
INRI PENTAMASTER CORP BHD
PENT VITROX CORP BHD
VITRO GLOBETRONICS TECHNOLOGY BHD
GTB V.S. INDUSTRY BERHAD
VSI SKP RESOURCES BHD
SKP GREATECH TECHNOLOGY BHD
GREATEC CORAZA INTEGRATED TECHNOLOGY BERHAD
CORAZA SFP TECH HOLDINGS BERHAD
SFPTECH NATIONGATE HOLDINGS BHD
NATGATE TT VISION HOLDINGS BERHAD
TTVHB CAPE EMS BERHAD
CEB OPPSTAR BERHAD
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 3Q23: Below Expectations; A Longer Wai...
3Q23: Below Expectations; A Longer Wait For Cyclical Recovery Below expectations. Vitrox Corporation (Vitrox) reported a soft 3Q23 net profit of RM33.3m (-12% qoq, -35% yoy), bringing 9M23 net profit to RM103.9m (-32%) and accounting for 62%/60% of our/consensus estimates respectively. The negative deviation was mainly due to the demand push-out from its automated board inspection (ABI), amid the extended global economic challenges and a slower-than-anticipated cyclical recovery.
- Desmond Chong Chee Wai
Technology - Glass Half Empty Or Half Full? Does Not Matter As Long As...
Glass Half Empty Or Half Full? Does Not Matter As Long As It Is Refillable! Risk-reward calculus is tilting towards the favourable side after a Davis’ Double Killing both on the industry’s earnings and valuations. Coupled with an imminent cyclical recovery, peakish interest rate cycle and gushing waterfall effect from trade diversion and supply chain entrenchment, we believe the conditions for turning more bullish on the sector are ripe again. We like companies that have strong orderbook backlog...
7155 ATA IMS
8176 VITROX
0097 INARI AMERTRON BHD
INRI PENTAMASTER CORP BHD
PENT VITROX CORP BHD
VITRO GLOBETRONICS TECHNOLOGY BHD
GTB ATA IMS BHD
AIB V.S. INDUSTRY BERHAD
VSI SKP RESOURCES BHD
SKP GREATECH TECHNOLOGY BHD
GREATEC CORAZA INTEGRATED TECHNOLOGY BERHAD
CORAZA SFP TECH HOLDINGS BERHAD
SFPTECH NATIONGATE HOLDINGS BHD
NATGATE TT VISION HOLDINGS BERHAD
TTVHB CAPE EMS BERHAD
CEB OPPSTAR BERHAD
Technology - On A Better Risk-Reward Trade-Off; Milk It Before Cyclica...
On A Better Risk-Reward Trade-Off; Milk It Before Cyclical Upturn After a Davis’ Double Killing on earnings and valuations over the past two years, we see a better risk-reward trade-off on an imminent cyclical recovery. Most importantly, our recent Penang company visits revealed that the structural growth theme is gaining more traction due to the gushing waterfall effect from trade diversion and supply chain entrenchment. We like companies that have strong orderbook backlogs and are frontrunners...
7155 ATA IMS
8176 GLOBETRONICS TECHNOLOGY
7022 VITROX
0097 INARI AMERTRON BHD
INRI PENTAMASTER CORP BHD
PENT VITROX CORP BHD
VITRO GLOBETRONICS TECHNOLOGY BHD
GTB V.S. INDUSTRY BERHAD
VSI SKP RESOURCES BHD
SKP GREATECH TECHNOLOGY BHD
GREATEC CORAZA INTEGRATED TECHNOLOGY BERHAD
CORAZA SFP TECH HOLDINGS BERHAD
SFPTECH NATIONGATE HOLDINGS BHD
NATGATE TT VISION HOLDINGS BERHAD
TTVHB CAPE EMS BERHAD
CEB OPPSTAR BERHAD
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 1H23: Below Expectations But On The Me...
1H23: Below Expectations But On The Mend For A Stronger 2H23 While Vitrox still registered a soft 2Q23 with its bill-to-book ratio coming slightly below 1.0x parity, both the ABI and MVS segments are seeing signs of recovery. Meanwhile Vitrox’s efforts in continuous innovation of new products coupled with its market expansion activities into the high-growth segment are paving the way for the group to make a fast leap into a recovery in 2H23. We expect earnings growth to resume in 2024. Maintain ...
- Desmond Chong Chee Wai
Technology - Twin Bonanza With Cyclical Recovery And Trade Diversion W...
Twin Bonanza With Cyclical Recovery And Trade Diversion Waterfall Effect Beyond the near-term earnings consolidation which was the story of yesteryear, our recent Penang company visits revealed that the structural growth theme is gaining more traction due to the gushing waterfall effect from trade diversion and supply chain entrenchment. Meanwhile, a cyclical recovery is in sight after rounds of inventory adjustments. We like companies that have strong orderbook backlogs and are frontrunners wit...
7155 SKP RESOURCES BHD
8176 ATA IMS
7022 GLOBETRONICS TECHNOLOGY
0097 VITROX
INRI INARI AMERTRON BHD
PENT PENTAMASTER CORP BHD
VITRO VITROX CORP BHD
GTB GLOBETRONICS TECHNOLOGY BHD
VSI V.S. INDUSTRY BERHAD
SKP GREATECH TECHNOLOGY BHD
GREATEC CORAZA INTEGRATED TECHNOLOGY BERHAD
CORAZA SFP TECH HOLDINGS BERHAD
SFPTECH NATIONGATE HOLDINGS BHD
NATGATE TT VISION HOLDINGS BERHAD
TTVHB CAPE EMS BERHAD
CEB OPPSTAR BERHAD
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 1Q23: Below Expectations; Anchoring Fo...
1Q23: Below Expectations; Anchoring For A Stronger Rebound In 2H23 RESULTS Below expectations. Vitrox Corporation (Vitrox) reported 1Q23 net profit of RM35.1m (-28% qoq, -30% yoy) which made up 15%/17% of our/consensus estimates respectively. The negative deviation was mainly due to the slower-than-expected demand from its Machine Vision System (MVS) segment amid the headwinds of global semiconductor downturn. The group had also proposed a final tax-exempt DPS of 4.15 sen for 2022, subject to ...
- Desmond Chong Chee Wai
Technology - Industry Gloom Deepens, But There Are Still Bright Spots
Industry Gloom Deepens, But There Are Still Bright Spots Despite growing evidence of an industry-wide slowdown, our recent Singapore roadshows revealed that there are still bright spots amid the US-China trade diversion. Our channel checks suggest that industrial EMS players are the front-running racehorses, with the waterfall effect also benefitting certain equipment and semicon players. We like companies that have strong orderbook backlogs and are benefitting from structural growth themes. Mai...
7155 ATA IMS
8176 GLOBETRONICS TECHNOLOGY
7022 VITROX
0097 INARI AMERTRON BHD
INRI PENTAMASTER CORP BHD
PENT VITROX CORP BHD
VITRO GLOBETRONICS TECHNOLOGY BHD
GTB V.S. INDUSTRY BERHAD
VSI SKP RESOURCES BHD
SKP GREATECH TECHNOLOGY BHD
GREATEC CORAZA INTEGRATED TECHNOLOGY BERHAD
CORAZA SFP TECH HOLDINGS BERHAD
SFPTECH NATIONGATE HOLDINGS BHD
NATGATE TT VISION HOLDINGS BERHAD
TTVHB CAPE EMS BERHAD
CEB OPPSTAR BERHAD
- Desmond Chong Chee Wai
Vitrox Corporation (VITRO MK) - 2022: Within Expectations; Extending G...
2022: Within Expectations; Extending Growth Into 2023 After A Record 2022 RESULTS Within expectations. Vitrox Corporation (Vitrox) reported 4Q22 net profit of RM48.6m (-4% qoq, +6% yoy), bringing 2022 net profit to RM200.7m (+18%) which made up 97%/103% of our/consensus’ estimates respectively. Despite the China lockdown, Vitrox still clinched its twelfth consecutive quarter of yoy growth on a record-breaking profit of RM48.6m for its 4Q. The group had also proposed a final tax-exempt DPS of 1...
VITROX CORPORATION reduced its risk exposure resulting in an upgrade t...
VITROX CORPORATION (MY), a company active in the Semiconductors industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date December 10, 2021, the closing pric...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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