Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

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Globetronics (GTB): Not Only Sensors but Also Laser Powered Auto Headlights

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Equity Bottom-Up

<ul>
<li>Low correlation with Western stock markets, strong long-term sales growth, and low correlation relative to its sector</li>
<li>INRI is the largest semiconductor company in Malaysia by revenue, and is currently enjoying a strong growth trend due to capacity expansion of its assembly and test facilities for semiconductor client outsourcing (OSAT)</li>
<li>The improved product mix of mobile radio frequency (RF) components, optoelectronics, and iris scans, is boosting profit margins</li>
<li>Trades at premium to ASEAN Info Tech at 19CE* 22.1x PE but offers better earnings growth and a solid net-cash balance sheet</li>
<li>Risk: weaker than expected product demand</li>
</ul><p><em>* Consensus Estimates</em></p>


Low correlation with Western stock markets, strong long-term sales growth, and low correlation relative to its sector
INRI is the largest semiconductor company in Malaysia by revenue, and is currently enjoying a strong growth trend due to capacity expansion of its assembly and test facilities for semiconductor client outsourcing (OSAT)
The improved product mix of mobile radio frequency (RF) components, optoelectronics, and iris scans, is boosting profit margins
Trades at premium to ASEAN Info Tech at 19CE* 22.1x PE but offers better earnings growth and a solid net-cash balance sheet
Risk: weaker than expected product demand
* Consensus Estimates

INRI (INRI MK): Malaysia’s Leader in Semiconductor Outsourcing

Inari Amertron

INRI (INRI MK): Malaysia’s Leader in Semiconductor Outsourcing