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Day traders spend much of their days scanning the markets for trading opportunities and monitoring open positions, and many of their evenings researching and improving their trading plans.
MPLUS - *Supercomnet Technologies Bhd (SCOMNET)* - Company Update
(i) Orders from SCOMNET’s 2nd largest client in the medical segment; Ambu has diminished in 3QFY22, due to 2 products being recalled from the market amid concern over leak/rupture of either the bronchial or tracheal cuff.
(ii) Despite the slower contribution from Ambu, growth from the medical segment will be anchored by new products coming onto stream in 2023.
(iii) Automotive segment will be supported by the mass production of wire harnesses and fuel tanks to a European car company will begin in 2023.
Despite the minor hiccup from Ambu, we believe that the impact will be well cushioned by the progressive launches of new medical and automotive products in the pipeline.
No changes made to our earnings forecast and we upgrade SCOMNET to BUY with an unchanged target price of RM1.94 as recent share pullback offers some potential mild upsides, in our view.
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Ciao!
