automotive

Miyoshi says 2Q earnings more than double to $0.56 mil on higher revenue, lower costs

SINGPORE (Apr 6): Miyoshi reported 2Q18 earnings more than doubled to $0.56 million from $0.17 million in 2Q17.

Revenue for the quarter was 5.4% higher at $12.8 million from $12.1 million a year ago, mainly due to more orders from automotive customers.

The group’s raw materials, consumables used and changes in inventories increased by 11.7% to $6.52 million compared to $5.84 million last year.

Employee benefit expenses dropped 14.6% to $6.52 million from $5.84 million in the previous year.

Tan Chong FY17 earnings more than double to $84 mil on higher margins

SINGAPORE (Mar 27): Tan Chong International, the local distributor of Subaru cars via subsidiary The Motor Image Group, ended FY17 with earnings of HK$501.9 million ($83.7 million), more than double its FY16 earnings of HK$191.1 million on improved operating margins.

The improved bottom line comes despite a 5.3% decline in full-year revenue to HK$15.9 billion from HK$16.7 billion a year ago, which was primarily due to a sales volume decline from the motor vehicle distribution and retail division, as well as a slowdown in Singapore and China.

Smartphones nearly killed Memtech. Elon Musk brought it back

SINGAPORE (Mar 6): The rise of the smartphone almost broke Tze-Mon Chuang’s company -- Elon Musk provided its salvation.

Singapore-based Memtech International Ltd. has more than doubled its market value in the past year thanks to tie-ups with the likes of Tesla Inc. The manufacturer is a key supplier to Musk’s pioneering auto company, making plastic components for its battery packs.

Avi-Tech to gain from a new wave of disruptive technologies: RHB

SINGAPORE (Aug 21): RHB Research is maintaining its “buy” call on Avi-Tech Electronics with a higher target price of 59 cents from 52 cents previously on expectations of positive long-term growth.

This comes after the group last reported a strong 4Q17 and declared a special dividend of 0.8 cent, bringing its total FY17 dividend to 2.8 cents which represents a yield of around 6%.

Expect an even stronger 2H for Memtech, says CIMB

SINGAPORE (Aug 11): CIMB is keeping its “add” rating on Memtech International after the global components solution provider yesterday reported earnings of US$4.9 million ($6.7 million) for the second quarter ended June, reversing from its loss position in 2Q16.

See: Memtech back in the black with 2Q earnings of US$4.9 mil on higher revenue

Memtech back in the black with 2Q earnings of US$4.9 mil on higher revenue

SINGAPORE (Aug 10): Memtech International, the global components solution provider, reported earnings of US$4.9 million ($6.7 million) for 2Q17, reversing from the loss of US$1.4 million posted in the same period a year ago.

In a Thursday filing, Memtech says its improved performance in the current quarter was largely attributable to the successful execution of scheduled orders from major customers.

Despite mixed bag of 3Q results, this stock offers the best proxy to invest in Myanmar

SINGAPORE (March 28): RHB  Research is maintaining its positive view on Yoma Strategic as “the best proxy to invest in Myanmar” and continues to rate the counter at “buy” with a target price of 78 cents, despite the group posting a 98.7% decline in 3Q17 earnings last month.

Cities shop for US$10 bil of electric cars to defy Trump

NEW YORK (March 16): Dozens of US cities are willing to buy US$10 billion ($14 billion) of electric cars and trucks to show skeptical automakers there’s demand for low-emission vehicles, just as President Donald Trump seeks to review pollution standards the industry opposes.

Valuetronics rides IoT megatrend, connected cars

SINGAPORE (Nov 8): UOB KayHian and CIMB are sticking to their “add” calls for Valuetronics as they expect the group to continue riding the Internet of Things (IoT) megatrend in the consumer electronics (CE) segment and take on more automotive projects in the industrial and commercial electronics (ICE) segment.

Meanwhile, RHB is hanging on to its “neutral” call.

Recent weakness makes Innovalues all the more a better ‘buy’

SINGAPORE (Oct 7): Maybank Kim Eng is reiterating its “buy” call on Innovalues, the customised machined parts and components manufacturer for the automotive and office automation industries, with an unchanged price target of $1.15.

In a Thursday report, analyst Gregory Yap says he remains positive even as the stock has retreated since its peak of $1.11 in July, as this makes it a “fundamental better buy” at its lower levels.

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