Kaustubh Sanjay​ ​Jagtap

NUS Investment Society

Equity Bottom-Up

We are initiating coverage of UMS Holdings with a Buy rating and a S$1.13 12M price target.
2Q17 Earnings Review
• 2Q17 revenue growth of 81% YoY from $23.6 million in 2Q16 to $42.7 million in 2Q17 arising from continuation of strong demand recovery in Semiconductor industry, which accounts for 98.3% of UMSH’s total sales revenue.
• Net profit increased 77% Yoy to $11.5 million from $6.5 million in 2Q16, mainly driven by strong sales growth in the semiconductor business in 2Q17 and lower…

Singapore

UMS Holdings Limited provides equipment manufacturing and engineering services to Original Equipment Manufacturers (OEMs) of semiconductors and related products. The Company manufactures high precision components and complex electromechanical assembly and final testing services. UMS supports the electronic, machine tools and oil and gas industries.

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