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QES Batu Kawan plant update - Manufacturing operations to be gradually ramped up over the next 6~9 months with the current slow down; Allocating and finalising space for potential China collaboration projects.
keep an eye on the revenue growth for skp. Dyson launched new products recently and should be seeing revenue uptick for skp if any of these products are contracted to skp.
rises 1 day but falls for 10 days :) but there are still lots of people doing short term trades, adama. They must have excellent skills to be able to make money from short term trades.
I dont know any actual person doing short term trading but I have seen lots of comments on klsescreener. fatty bombom and ah choon wong seems to do well with short term trade. winning most of the time before price goes down.
average down and all kind martingale variants have nothing to do with skill but your pocket size. The deeper is your pocket the more likelyhood u can make profit. It is like 99% sure win until u hit the unlucky 1%.
probably. I guessed the skills in KLSE is based on the nature of KLSE market - illiquid; favors the chart makers aka big boys. But one thing that is obvious, market wont go anywhere when local funds/insti buying while foreign funds/insti selling :) Retail makes no difference to the market due to lack of resources compared to them; often sandwiched by them.
Possible decision by US Supreme Court decision on Trump's Liberation Day tariffs in Jan'26 - U.S. Manufacturers Slow Orders Ahead of Supreme Court Tariff Ruling (Paul Berger, The Wall Street Journal)(Paywall) — As they wait to see whether the Supreme Court will strike down a significant portion of Trump’s tariffs, U.S. manufacturers are reducing their “orders of parts and raw materials,” according to The Wall Street Journal. “A lot of folks are just sort of hedging a little bit that these tariffs are going to get rolled back,” said Mike DuVall, global head of supply-chain strategy at GEP, a software and consulting company, to the Journal.
Not to worry too much about Japan interest rates :) Japan increasing rates but US lowering interest rates. US add oil to the market, Japan can only add speed limit. Lol, no pun intended. Its just borrowing becomes more expensive in Japan and you may hear the term carry trade from the media articles; borrow cheap yen to invest in higher yields assets if you will. Borrowing becomes more expensive means less borrowings from Japan / borrower becomes more cautious.
and RHBInvest initiated coverage on QES - Initiate BUY with MYR0.57 TP (23x FY26F P/E, 40% discount to peer mean), 46% upside with 2% FY26F yield. QES Group is trading at a cheap 16x FY25F P/E - below the peer average, and vs a 3-year earnings CAGR of 15.6%. This chip production equipment/automated test equipment (SPE/ATE) player has exposure to the front-end equipment segment. Earnings growth from front-end and its manufacturing portfolio via MedTech contributions, material progress from China collaboration projects, and the chip upcycle should lead it towards a firm earnings recovery and growth in FY25-27F.
Semiconductor upcycle. The global semiconductor industry remains firmly in a strong artificial intelligence (AI)-driven upcycle, with sales projected to reach USD772bn in 2025 and USD975bn in 2026. Geopolitical shifts related to the China Plus One and Vietnam Plus strategies, as well as South-East Asia's rise as a manufacturing hub, bodes well for QES, in view of its ASEAN exposure in capturing the growing demand for various equipment for diverse industry applications. Its MYR86m orderbook should grow in FY26, driven by the recovery in semiconductor demand, the ramp-up of medical technology (MedTech) manufacturing, and material contributions from China collaboration projects. Management remains committed to grow the manufacturing division, so that it accounts for over 30% of revenue by FY27.
MedTech - the new manufacturing growth engine. QES has strategically expanded into the MedTech segment, supplying customised automated optical inspection (AOI) and automation solutions to a global medical device manufacturer. MedTech should become a key earnings driver from FY26 onwards, supported multiple confirmations and new orders to be delivered to the US and Ireland, which are expected to boost its manufacturing orderbook. Management targets annual deliveries of 8-10 MedTech tools, carrying an estimated GPM of 40-50%, at the higher quartile among the group's divisions.
Strategic China collaborations. QES is re-entering the China market through three collaboration projects in X-ray, microscopy solutions, and wafer handling equipment, which management expects to become a significant growth driver over FY26-27. The group will leverage on the ready capacity at its Batu Kawan facility to support these initiatives. Two orders under the X-ray and microscopy projects are undergoing, with delivery targeted by 1H26, while the wafer handling project with a US-listed semiconductor company remains in the pipeline. Management anticipates a maiden revenue distribution from FY26, with potentially more substantial manufacturing earnings from FY27 onwards.
Key downside risks. Earnings are exposed to order volatility across core segments, where delays or softer demand could disrupt revenue visibility. Escalation of input costs may compress margins, while the depreciation of the USD vs the MYR would further pressure earnings.
Source: RHB Research - 15 Dec 2025
ermm... boss is on the media again. kept hinting about China OEM business. Been singing the China OEM collab since the investor briefing end of last year.
Alright, fibo. Pretty much depends on your waves identification :) I am seeing minor impulse wave 1 at 0.34 to 0.515; at the back of completion of major correction wave which started back in jun'24. Wave 2 ended at 0.37. You can do the calculations for wave 3 :) the assumption of minor impulse waves in 2025 is based on the higher customer deposits seen from the qr and company generating more money. The risk to the assumption is delays in fulfilling customer orders / lower margins product mix