SINGAPORE (Oct 28): NRA Capital has assigned a preliminary “overweight” rating to Sunright, with a fair value estimate of 48 cents. This represents a 41% upside based on its share price of 34 cents as at 3.41pm on Friday.

In Malaysia, Sunright’s semiconductor burn-in, testing and electronic manufacturing (BIT&EM) services are provided through its 48%-owned subsidiary, KESM Industries, which is listed on Bursa.

“Sunright’s shares in KESM and net cash have a value of 75.3 cents per share. In contrast, Sunright currently trades at 33 cents, less than the value its shares in KESM,” says NRA analyst Liu Jinshu in a report on Thursday.

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