SINGAPORE (Aug 3): Maybank KimEng likes Manufacturing Integration Tech (MIT) for issuing a positive guidance for 1H17 and is expecting the group to return to profitability on resumption in orders.
In a unrated report for retail investors, analyst Teh Kwong Yew says, “The turnaround is supported by the upturn in the global semiconductor industry and impending new handset launches, particularly Apple’s iPhone 8.”
MIT reported a net loss of $5.5 million following a downcycle in FY16 but the analyst anticipates the group’s 1H17 revenue to be near the $35.5 million achieved in FY16.
