VS Industry

VS Industry

Postby winston » Fri Oct 06, 2017 11:24 am

not vested

In addition to the several assembly lines for box-build products which have
commenced production since Nov 16, VS Industry will begin production of an additional three assembly lines in 4Q17.

Key catalyst in the medium term will be the fill-up of capacity at its new plant
(which can accommodate up to 12 assembly lines) upon completion in mid-18 on
the back of potential contracts from new customers.

Share Price Catalyst
Securing new contracts from existing or new customers.
Securing new contracts for its China ops via 43.5%-owned VS International Group (VSIG).

Source: UOBKH
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Re: VS Industry

Postby winston » Fri Aug 03, 2018 9:39 pm

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VS Industry

Having seen its share price decline for the past few months, UOBKH thinks that the worst is over for VS Industry.

UOBKH notes that earnings should improve in subsequent quarters on margin improvement and will be introducing a few new replacement models for its US customer in the next one year.

In the next few years, UOBKH expects VS Industry to achieve a three-year core net profit CAGR of 22.4 percent driven by higher sales volume from its key customers.

VS Industry has a minimum 40 percent dividend payout policy, which should translate into a dividend yield of 2.1-4.1 percent for FY18-20.

Should there be any large contract wins from existing/new customers or a favourable forex environment, its share price could well be catalysed.

BUY, TP RM1.85; Current Share Price $1.72

Source: Shares Investment
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Re: VS Industry

Postby winston » Mon Mar 04, 2019 9:13 am

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V.S. Industry (VSI MK)

by Ivan Yap

Share Price: MYR1.09
Target Price: MYR1.25
Recommendation: Buy

Early beneficiary of US-China trade tension

In an impressive turnaround time after being notified of a production volume cut by a key customer back in Nov 2018, VSI is able to secure a new contract.

We raise our FY20/21E earnings by 33%/29% to account for higher utilization of VSI’s plants.

With a more diversified customer portfolio and opportunities for another win in the near-term, we believe that VSI should trade at a smaller discount to the tech names within our coverage. Raise TP to MYR1.25 and upgrade VSI to BUY.

Source: Maybank

https://factsetpdf.maybank-ke.com/PDF/1 ... aca088.pdf
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Re: VS Industry

Postby winston » Wed Mar 31, 2021 8:53 am

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On stock selection, we like VS (HLIB Research –BUY-RM3.44 TP) as the biggest EMS player in Malaysia with solid track record, underpinned by a healthy order outlook brought by the steady demand of consumer electronic products and margin expansion from customer diversification efforts coupled with a major beneficiary of the prolonged US-China trade diversion.

Technically, the stock is poised for a triangle breakout soon following strong 2Q21 results.

Key resistances are pegged at RM3.00-3.13-3.37 whilst supports are situated at RM2.72-2.64-2.54 levels.

Source: HLIB
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Re: VS Industry

Postby winston » Wed Mar 31, 2021 9:48 am

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1HFY21: Within Expectations; On Track For A Record-Making Year

The record 2QFY21 results on the back of impressive margins reflect the continual
fruition from the restructuring that started in 2018.

Order commitment from key customers remains intact with some making VSI the preferred partner in Asia by loading up on volumes.

VSI is back to its glory days again, with a high-growth cycle and offering a 3-year net profit CAGR of 28% even from its peak year.

Maintain BUY with an unchanged target price of RM3.80.

Source: UOBKH

https://research.uobkayhian.com/content ... ed24870537
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Re: VS Industry

Postby winston » Thu Apr 01, 2021 8:49 am

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2QFY21: Steady orders with positive outlook

1HFY21 core net profit of RM132.3m (+63.4% yoy) came in within expectations. 1HFY21 saw margin expansion due to a better product mix.

We expect 3QFY21 to be softer qoq, due to seasonally slower production during the festive period, and temporary plant closures in Feb 2021.

Long-term earnings growth prospects remain intact. Reiterate Add. TP: RM 3.12

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 49493AA994
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