SINGAPORE (Nov 15): DBS Group Research is maintaining its “hold” recommendation on UMS Holdings as the group awaits the renewal of its Endura contract with Applied Materials which expires in Jan.
UMS handles 70% of the manufacturing and assembly for Applied Material’s Endura system.
As DBS analyst Paul Yong explains it, UMS’ core business depends on the successful renewal of the contract and its revised contractual terms, so that it can benefit from favourable trends in the semiconductor industry and Applied Materials’ strong order book.
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