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MARKET BUZZ: Malaysia's QES Group Off Highs; Kenanga Tips Trading Buy

By Alexander Winifred
Nikkei Markets
KUALA LUMPUR (Mar 08) -- QES Group rose as much as 28.95% to MYR0.245 on its trading debut, now at MYR0.215. Kenanga Investment Bank tips Trading Buy with MYR0.26 fair value. Views QES well-positioned to capture growth in automotive, semiconductor and electronics industries, noting its 9.2% market share in automatic test equipment space. Notes, QES posted core net profit compound annual growth rate(CAGR) of 47% over 3 years, significantly outperforming global and local test and measurement market. Projects core net profit to rise at 2-year 15% CAGR based on conservative revenue growth forecasts, as QES's "established" client base and strong exposure to multinationals will help it outpace industry peers. Earnings will also be driven by maiden contribution from three new products in FY18/FY19, house says.
- By Alexander Winifred; Alexander.Winifred@nikkeinewsrise.com; +60320267363
- Edited By Lopamudra Bhattacharya
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.

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