Like_老虎社区_美港股上老虎

AdrinaChow
2022-08-22

Brokers’ Take: CGS-CIMB Raises UMS Target on Higher Revenue Projections

WITHUMS Holdings seeing strong order forecasts from its key customer, CGS-CIMB has raised its FY2022

Brokers’ Take: CGS-CIMB Raises UMS Target on Higher Revenue Projections

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

推荐
最新

暂无评论

热议股票

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":687505811,"tweetId":"687505811","gmtCreate":1661140810035,"gmtModify":1661140828220,"author":{"id":3583131237618472,"authorId":3583131237618472,"authorIdStr":"3583131237618472","name":"AdrinaChow","avatar":"https://static.tigerbbs.com/d1b867f4c2019d6ec313665b1af8431b","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":46,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Like&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Like&nbsp;</p></body></html>","text":"Like","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/687505811","repostId":1186509705,"repostType":4,"repost":{"id":"1186509705","pubTimestamp":1661139373,"share":"https://www.laohu8.com/m/news/1186509705?lang=&edition=full","pubTime":"2022-08-22 11:36","market":"sg","language":"en","title":"Brokers’ Take: CGS-CIMB Raises UMS Target on Higher Revenue Projections  ","url":"https://stock-news.laohu8.com/highlight/detail?id=1186509705","media":"The Business Times","summary":"WITHUMS Holdings seeing strong order forecasts from its key customer, CGS-CIMB has raised its FY2022","content":"<html><head></head><body><p>WITHUMS Holdings seeing strong order forecasts from its key customer, CGS-CIMB has raised its FY2022-2024 revenue forecasts for the semiconductor company by 6.9-14.2 percent to result in a higher target price of S$2.03, from S$1.63 previously.</p><p>The research house continues to rate UMS at “add” and believes the group will be able to secure new customers for its 300,000 sq plant due to be ready by the year-end.</p><p>“We think UMS’s chances of onboarding new customers are high as Malaysia saw approved investments for its manufacturing sector grow 42.5 percent to RM130 billion in 2021 from RM91.3 billion in 2020,” said analyst William Tng in a report on Friday (Aug 19), citing figures from the Malaysian Investment Development Authority’s 2021 investment performance report.</p><p>According to Tng, the new price target – now valued at 2 standard deviation points above the stock’s January 2017 to August 2022 price-to-earnings multiple – is justified as CGS-CIMB now expects earnings per share (EPS) compound annual growth rate (CAGR) for FY2021-FY2024 to come in at 23.7 percent.</p><p>The previous S$1.63 target price was based on the group’s forward peak price-to-earnings multiple of 14.45 times achieved in the upcycle of FY2016-2018, as opposed to the revised multiple of 15 times FY2023 EPS estimates.</p><p>CGS-CIMB’s EPS forecasts for UMS would see further upside if the group’s Malaysian subsidiary achieves a favourable tax resolution, added Tng.</p><p>To recap, UMS is in the midst of discussions with the Malaysian tax authorities to reinstate its former pioneer tax status for its subsidiary Ultimate Manufacturing Solutions, which enables the company to be 100 per cent exempt from taxes for 10 years from Aug 11, 2017.</p><p>The tax incentive was disallowed as the group was not able to meet the stipulated percentage of local employee criteria. UMS has engaged a tax consultant to advise in discussions with the authorities, and hopes to achieve a favourable resolution before the end of 2022.</p><p>CGS-CIMB projects a 14-21.3 percent increase in UMS’s FY2022 EPS should the tax issue be favourably resolved.</p><p>Shares of UMS were trading S$0.05 or 4 per cent higher at S$1.31 as at 10.50am on Monday.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Brokers’ Take: CGS-CIMB Raises UMS Target on Higher Revenue Projections  </title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBrokers’ Take: CGS-CIMB Raises UMS Target on Higher Revenue Projections  \n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 11:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-raises-ums-target-on-higher-revenue-projections><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>WITHUMS Holdings seeing strong order forecasts from its key customer, CGS-CIMB has raised its FY2022-2024 revenue forecasts for the semiconductor company by 6.9-14.2 percent to result in a higher ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-raises-ums-target-on-higher-revenue-projections\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"558.SI":"UMS控股"},"source_url":"https://www.businesstimes.com.sg/companies-markets/brokers-take-cgs-cimb-raises-ums-target-on-higher-revenue-projections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186509705","content_text":"WITHUMS Holdings seeing strong order forecasts from its key customer, CGS-CIMB has raised its FY2022-2024 revenue forecasts for the semiconductor company by 6.9-14.2 percent to result in a higher target price of S$2.03, from S$1.63 previously.The research house continues to rate UMS at “add” and believes the group will be able to secure new customers for its 300,000 sq plant due to be ready by the year-end.“We think UMS’s chances of onboarding new customers are high as Malaysia saw approved investments for its manufacturing sector grow 42.5 percent to RM130 billion in 2021 from RM91.3 billion in 2020,” said analyst William Tng in a report on Friday (Aug 19), citing figures from the Malaysian Investment Development Authority’s 2021 investment performance report.According to Tng, the new price target – now valued at 2 standard deviation points above the stock’s January 2017 to August 2022 price-to-earnings multiple – is justified as CGS-CIMB now expects earnings per share (EPS) compound annual growth rate (CAGR) for FY2021-FY2024 to come in at 23.7 percent.The previous S$1.63 target price was based on the group’s forward peak price-to-earnings multiple of 14.45 times achieved in the upcycle of FY2016-2018, as opposed to the revised multiple of 15 times FY2023 EPS estimates.CGS-CIMB’s EPS forecasts for UMS would see further upside if the group’s Malaysian subsidiary achieves a favourable tax resolution, added Tng.To recap, UMS is in the midst of discussions with the Malaysian tax authorities to reinstate its former pioneer tax status for its subsidiary Ultimate Manufacturing Solutions, which enables the company to be 100 per cent exempt from taxes for 10 years from Aug 11, 2017.The tax incentive was disallowed as the group was not able to meet the stipulated percentage of local employee criteria. UMS has engaged a tax consultant to advise in discussions with the authorities, and hopes to achieve a favourable resolution before the end of 2022.CGS-CIMB projects a 14-21.3 percent increase in UMS’s FY2022 EPS should the tax issue be favourably resolved.Shares of UMS were trading S$0.05 or 4 per cent higher at S$1.31 as at 10.50am on Monday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":855,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}