Valuetronics rides IoT megatrend, connected cars

SINGAPORE (Nov 8): UOB KayHian and CIMB are sticking to their “add” calls for Valuetronics as they expect the group to continue riding the Internet of Things (IoT) megatrend in the consumer electronics (CE) segment and take on more automotive projects in the industrial and commercial electronics (ICE) segment.

Meanwhile, RHB is hanging on to its “neutral” call.

After six consecutive quarters of comparable-sales contraction, Valuetronics’ 2Q net profit finally rose 18.2% to HK$38.1 million ($6.8 million), driven by higher sales in the CE segment, says UOB. Sales from ICE segment remained stable at HK$312.6 million.

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