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The Star
28-07-2025
- Business
- The Star
ViTrox banks on AI for continuing growth
PETALING JAYA: Vitrox Corp Bhd continues to be a cautious bet despite an optimistic outlook for artificial intelligence-related solutions, analysts say. Last week, ViTrox, a maker of automated vision inspection equipment and system-on-chip embedded electronics devices for the semiconductor and electronics packaging industries, reported results for the second quarter of this year (2Q) that met market expectations. CIMB Research has maintained a 'hold' call on the stock with an unchanged target price of RM3.80 based on price-earnings multiple of 40.8 times for next year, broadly aligned with the domestic automated test equipment industry's five-year average. 'Our valuation reflects a more optimistic outlook for the electrical and electronics sector. 'It is underpinned by ViTrox's solid AI-related order pipeline and regional diversification, which continue to support earnings visibility,' it said. Taiwan, Malaysia, and Vietnam contributed one-third of revenue in the first half of this year (1H25), up from 24% in 1H24. CIMB Research said the company's management 'is optimistic about securing pioneer status tax incentives in 2H25, supported by multiple new product introductions slated for rollout in 2H25. 'Notably, ViTrox has commenced shipments of its next-generation AXI system under the QX Series, designed for artificial intelligence servers, telecommunications, and automotive vision inspection,' it added. Maybank Investment Bank (Maybank IB) Research said a briefing with the company's management reaffirmed the company's growth trajectory for 2H25. The company highlighted robust demand across all core segments. 'Despite macro noise, management noted that 2Q25 growth was not solely frontloaded from US tariffs, with 3Q25 already seeing continued order inflows,' Maybank IB said. The research house maintained a 'hold' call on the stock but with a higher target price of RM4.11 from RM3.89. This is on a 6% rise in earnings for FY26 to FY27 based on better demand. While the company expects the tax incentives to be granted by either 3Q or 4Q, higher tax provisions would remain a near-term drag. 'While we are positive on ViTrox's fundamentals and market positioning, valuations are increasingly demanding, trading at a premium to its peers, likely pricing in a full demand recovery,' the research house pointed out.
New Straits Times
09-06-2025
- Business
- New Straits Times
Bursa Malaysia ends morning session firmer
KUALA LUMPUR: Bursa Malaysia ended in positive territory at midday on renewed interest in selected blue chips, led by MISC, Tenaga Nasional and Petronas Chemicals. MISC jumped 18 sen to RM7.78, Tenaga Nasional edged up 10 sen to RM14.30, and Petronas Chemicals bounced seven sen to RM3.32. These three counters contribute 16.07 points to the composite index. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.37 points higher at 1,520.16 from Friday's close of 1,516.79. The benchmark index opened at 1,518.06, 1.27 points higher, and subsequently fluctuated between 1,518.03 and 1,521.64 throughout the morning session. The broader market was also positive, with gainers outnumbering decliners 436 to 369. A total of 424 counters remained unchanged, 1,131 were untraded, and 20 were suspended. Turnover stood at 1.67 billion units, valued at RM888.2 million. Kenanga Investment Bank Bhd said in a research note today that the FBM KLCI is expected to extend its rebound this week, barring any negative surprises from US inflation data or trade developments. "Stocks in focus include Maybank, Public Bank, Tenaga Nasional, Sunway, and YTL Power, which have shown encouraging technical setups after recent pullbacks," it said. Among the heavyweight counters, Maybank was flat at RM9.70, Public Bank was unchanged at RM4.26, while CIMB and IHH added four sen each to RM6.88 and 6.90, respectively. CelcomDigi dropped five sen to RM3.80. Among the most active stocks, MPire bagged three sen to 12 sen, MYEG dipped half-a-sen to 94 sen, Ta Win was flat at two sen, and Tanco erased two sen to RM1.01. On the index board, the FBM Emas Index added 35.78 points to 11,391.12, the FBMT 100 Index gained 33.84 points to 11,157.53, and the FBM Emas Shariah Index climbed 40.02 points to 11,369.24. The FBM 70 Index advanced 85.83 points to 16,382.40. However, the FBM ACE Index erased 17.47 points to 4,501.85. Sector-wise, the Financial Services Index topped up 36.78 points to 17,745.10, the Energy Index gained 3.27 points to 721.72, and the Industrial Products and Services Index perked up 0.94 of a point to 151.74. The Plantation Index firmed 0.95 of a point to 7,253.80.
