buyappleacc.com is a reputed website selling apple developer account, providing us, China and worldwide developer individual accounts for sale. It's at low price and good quality. Always provides satisfying services!

HomeSocialtext

apple developer account(buyappleacc.com):Mi Technovation to set up two new business units

admin2021-08-1032

high quality apple developer account

if you want to buy apple account, choose buyappleacc.com, buyappleacc.com is a best provider within bussiness for more than 3 years. choose us, you will never regret. we provied worldwide apple developer account for sale.

,The plan was spelled out by group CEO Oh Kuang Eng at a recent analysts’ briefing post results for the second quarter (Q2) ended June 30, 2021.

PETALING JAYA: Mi Technovation Bhd plans to set up two new business divisions within the next three to five years to become an end-to-end semiconductor solutions provider.

Already operating two business divisions, namely, semiconductor equipment business unit (SEBU) and semiconductor material business unit (SMBU), the group plans to establish its third business unit, semiconductor manufacturing and specific process services, by 2024.

The fourth business unit, technology intensive commercial products, is expected to be ready by 2026.

The plan was spelled out by group CEO Oh Kuang Eng at a recent analysts’ briefing post results for the second quarter (Q2) ended June 30, 2021.

According to Public Invest Research, Mi Technovation has set its sight on acquisition deals of up to US$285mil (RM1.1bil).

Under the plan, the group is targeting up to US$240mil (RM1bil) worth of acquisitions in China, Taiwan and South Korea to expand the portfolio for SEBU.

In addition, the group has set aside US$35mil-US$45mil (RM145mil-RM185mil) to acquire two chemical companies in the European Union and United States, which have strong exposure to automotive industry and semiconductor high-end package that can complement its newly acquired solder ball business.

“We continue to like the exciting growth in the company through organic capacity expansion and multiple acquisitions, which will propel the company forward,” Public Invest Research wrote in its report.

The brokerage reiterated its “outperform” call on Mi Technovation, with an unchanged target price of RM5.78.

The company saw maiden contribution from SMBU in Q2’21 following the completion of its acquisition of the Taiwan-based Accurus Scientific in April this year.

“The SMBU is expected to continue growing with the commercial operation of the Ningbo plant in China in early-2022,” Public Invest Research said.

Meanwhile, CGS-CIMB Research noted that Mi Technovation expected SMBU pre-tax profit margin to improve in upcoming quarters in view of higher average selling prices (ASP) following renegotiation with customers due to a spike in raw material prices such as tin and silver.

SMBU delivered 10.2% pre-tax profit margin in Q2’21, which was below the group’s expectation of 15%-20%.

“We expect the SMBU division to deliver stronger sales in Q3’21 given that it is seasonally its strongest quarter for material business as semiconductor companies ramp up IC chip production for mobile devices,” CGS-CIMB Research said.

The brokerage maintained “add” rating on Mi Technovation, with an unchanged target price of RM5.20, based on 40 times forward earnings.

It said its target valuation for the company was justified based on a projected three-year core net profit compounded annual growth rate (CAGR) of 33% vis-a-vis the sector core net profit CAGR of 24%.

Reviews

Popular tags