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Hi-P kept at 'hold' by Maybank on expectations of tough FY19

PC Lee
PC Lee11/12/2018 12:39 PM GMT+08  • 2 min read
Hi-P kept at 'hold' by Maybank on expectations of tough FY19
SINGAPORE (Nov 12): Maybank KimEng is maintaining Hi-P International at “hold” on expectations of a tough FY19.
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SINGAPORE (Nov 12): Maybank KimEng is maintaining Hi-P International at “hold” on expectations of a tough FY19.

Maybank says Hi-P’s 3Q18 PATMI of $33.8 million was ahead of its expectations as it had overestimated the margin erosion from pricing pressure and lower yields.

However, sales fell 8% y-o-y due to less high-component content projects, weaker market demand, and slower ramp-up for certain products by multiple customers.

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