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buy apple account:KESM expects gradual recovery

admin2020-12-03357

KUALA LUMPUR: KESM Industries Bhd is eyeing a gradual recovery over the near term with its utilisation rate approaching 30%, says Kenanga Research, which reiterated its "market perform" rating on the stock."For the upcoming quarter, the group is hopeful to breach the 30% mark and expect marginal QoQ growth in 2QFY21," it added.However, the research house added that management has cautioned about the seasonality factor and long festive holidays in 3QFY21 as the group typically shuts down its plants during the Chinese New Year period.Moving forward, KESM is seeing orders for products that are in the midst of qualification, including chips relating to advance driving assistance systems, tire-pressure measuring system and in-car infotainment system.However, the group is not expected to see significant impact from these new products in FY21 as the qualification process takes time, especially for the automotive sector, which is more stringent than the smartphone sector.New equipment lead time is also now longer at three to four months as the Covid-19 poses logistical challenges."Upon qualifying for the new products, capex for new equipment may only be incurred between end-FY21 and early-FY22," said Kenanga.Over the longer term, management believes the sector has positive prospects as semiconductor content in vehicles continue to rise."We gather that China,

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