Malaysian Pacific Industries

[winston]

not vested

MPI Q1 earnings at nearly RM20mil

KUALA LUMPUR: Semiconductor company Malaysian Pacific Industries Bhd (MPI) earnings rose 11.6% to RM19.91mil in the first quarter ended Sept 30, 2014 from RM17.83mil a year ago, boosted by higher margin products.

It said on Wednesday its revenue was lower at RM327.72mil, a decline of 0.8% from RM330.62mil a year ago.

Earnings per share were 10.49 sen compared with 9.43 sen. It declared an interim dividend of seven sen a share, up from five sen a year ago.

MPI said the segment revenues for Asia and Europe rose 2% and 24% respectively but that from US fell 24% when compared with a year ago.

On the outlook, MPI said the semiconductor industry was experiencing some softening in demand.

Source: The Star

[winston]

not vested

MPI top pick in semicon sector: CIMB Research

KUALA LUMPUR: CIMB Equities Research is keeping Malaysian Pacific Industries (MPI) as its top pick for the semiconductor industry due to its strength in operating efficiency and better traction in higher margin packages.

“Stronger contributions from its communications and automotive segments, higher dividend payouts and potential M&A activities are potential re-rating catalysts,” it said on Thursday.

On the earnings for the first quarter ended Sept 30, 2014, the research house said MPI’s core net profit was in line with expectation at 23% of its and consensus full-year estimates.

Core net profit grew by 13.7% on-year, driven by stronger shipment volume from higher margin packages and lower material cost.

“We maintain our EPS forecasts, which imply 2013-16 EPS CAGR of 48%, and keep our Add rating, with an unchanged target price of RM7.50, based on 14.3 times CY16 P/E (its two-year historical mean),” it said.

Source: The Star

[winston]

not vested

MPI’s earnings soar on weaker ringgit and lower raw material cost

KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI) kicked off its 2016 financial year on a strong note, with the first quarter’s earnings rising 135.7% over the same period last year.

In its interim financial report to Bursa Malaysia, the integrated circuit and semiconductor device maker said profit attributable to shareholders rose to RM46.92mil from RM19.91mil previously, achieved on 18% higher revenue of RM386.64mil.

It attributed the better profit to the strengthening of the US dollar against the ringgit and lower material cost arising from lower commodity prices in the quarter under review.

MPI, which is a subsidiary of Hong Leong Manufacturing Group Bhd, said revenue growth was higher for all segments, with Asia, the US and Europe increasing by 13%, 36% and 14% respectively year on year.

Asia contributed 51.3% of the reportable segments’ profit of RM63.19mil, while the US and Europe contributed 21.6% and 27.1% respectively.

On its prospects, MPI said the operating environment was expected to remain challenging for the coming quarters as the semiconductor industry was currently experiencing slower growth coupled with uncertainty in the global economy.

“Barring any unforeseen circumstances, the board expects the performance of the group to remain satisfactory for the financial year ending June 30, 2016,” the technology company said.

MPI has declared a dividend of 8 sen for the quarter (Q1 a year ago: 7 sen), to be paid on Dec 18.

Source: The Star

[winston]

not vested

Sequential rebound in sales

4QFY20 earnings of RM49m beat expectations on higher revenue and better margins

Healthy sequential rebound in 4QFY20 sales despite MCO restrictions

We raise FY21-22 earnings factoring in higher sales growth assumptions

Maintain HOLD with higher TP of RM14.60 (based on 1.8x BV) , implying 17x CY21 PE

Source: DBS

https://researchwise.dbsvresearch.com/R ... =fhaejkiia

[winston]

CGS-CIMB raises MPI EPS for FY21-23 by 21% to 28% on robust chip demand

by Tan Siew Mung

“We estimate that Carsem’s plant in Ipoh is running in excess of 90% utilisation, while Carsem Suzhou (CSZ) has been running at full capacity since 4QCY20.

Mohd Shanaz maintained his "add" rating on MPI with a higher target price of RM36.

The target price now is based on 28 times 2022 price to earnings (P/E) (from 26 times), +1.5 s.d. above the sector mean (previously +1 s.d.), in view of re-rating in the Malaysian tech sector P/E multiple due to strong long-term earnings growth prospects.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... hip-demand

[winston]

not vested

MPI on track for solid earnings growth

KUALA LUMPUR: Kenanga Research is bullish on Malaysian Pacific Industries Bhd's performance in 3QFY21 and beyond due to stronger demand for copper clip-related packages used in automotives.

The research house added that the group will also benefit from packaging demand for base station radio frequency components due to the push for 5G infrastructure in many countries.

Demand for power chip packaging also continues to rise on the back of data centre expansion and increased demand for consumer end-point devices as a result of expanded web computing activities.

It maintained "outperform" with a higher target price of RM47 from RM43 previously, based on 35x 2021 forecast price-earnings.

Source: The Star

https://www.thestar.com.my/business/bus ... ngs-growth

[winston]

Electrifying growth in 9MFY21

9MFY6/21 core net profit beat expectations, at 84%/80% of our/Bloomberg
consensus’ forecasts, due to stronger-than-expected sales in 3QFY21.

We expect MPI to maintain double-digit US$ sales growth in FY6/22F, driven\by robust demand for power management chips for EVs and data centres.

We raise FY21-23F EPS by 10-12%. Reiterate Add, with a RM42 TP.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 597B35A19D

[winston]

not vested

Making Vision 2027 come to life

MPI announced its Vision 2027 with a US$1.4bn sales target in FY6/27F (6-
year CAGR: 20%), driven by new expansions in Malaysia, China and US.

We are excited about MPI’s long-term prospects, riding on the proliferation of
SiC applications in EVs and 5G network infrastructure development in China.

Reiterate Add with RM51.50 TP, still based on 31x CY22F P/E.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 4B1C38DA3F

[winston]

not vested

A strong start to FY6/22

Malaysian Pacific Industries’ (MPI) 1QFY6/22 core net profit was in line, at 25%/26% of our/Bloomberg consensus’ full-year net profit estimates.

We expect MPI to maintain double-digit US$ sales growth in FY6/22F, driven by robust demand for power management chips for EVs and data centres.

Retain Add with a higher RM56.50 TP, as we roll over valuation to end-2022F.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 46C68DA737

[winston]

not vested

Malaysian Pacific Industries’ 2QFY22 net profit at two-decade high

by Seah Eu Hen

Net profit was 27.3% higher year-on-year (y-o-y) compared with RM67.04 million in the corresponding quarter a year ago.

Quarterly revenue jumped by 25.6% to RM608.01 million from RM483.94 million.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... ecade-high