CGS-CIMB has initiated a “hold” rating and target price of $1.23 for Hi-P International, believing its strong balance sheet will support mergers and acquisitions (M&A) that could drive growth for the group.

The group provides one-stop solutions to customers in wireless telecommunications, consumer electronics, computing and peripherals, Internet of Things (IoT), medical devices and industrial devices. Hi-P’s capabilities range from product development and design to parts manufacturing to complete product assembly. 

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