UOB Kay Hian has maintained its “hold” call on Micro-Mechanics Holdings (MMH), with a higher target price of $2.01 as compared to its previous target price of $1.82. 

Analyst Clement Ho said this was due to a strong earnings showing for the company in 4Q20. During the quarter, MMH recorded a net profit of $3.9 million, bringing its earnings to $14.7 million for FY20, and surpassing the brokerage’s estimates by 23%. 

Ho said this stemmed from “resilient demand” for high-precision parts and tools despite global lockdowns and near shutdowns of whole industries. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook