KUALA LUMPUR: Shares in Malaysian Pacific Industries Bhd (MPI) rose to its highest in over 20 years while several semiconductor-related companies rose in active trading on Thursday. MPI topped the gainers’ list on Bursa Malaysia, rising 56 sen to RM28.24, its highest since early 2000. Pentamaster Corp, Unisem (M) Bhd and KESM Industries Bhd are among the top gainers dominating the gainers’ list on Bursa Malaysia. KESM jumped 30 sen to RM15.90, Pentamaster advanced 21 sen to RM5.81 and Unisem gained 17 sen to RM6.84. The Semiconductor Industry Association (SIA) announced recently that worldwide sales of semiconductors reached US$39.4bil for the month of November 2020, an increase of 7% compared to the November 2019 total of US$36.9bil and 1.1% more than the October 2020 total of US$39bil. TA Securities, in a report last week, reiterated its “overweight” stance on the semiconductor sector. It has maintained recommendations of buy on Inari (TP: RM3.26), Unisem (TP: RM6.73), and MPI (TP: RM29.40). “Meanwhile, we place our Buy recommendation on Elsoft (TP: RM0.70) under review pending a meeting with management,” it said. “Within our semiconductor universe, we continue to favour outsourced semiconductor assembly and test providers including Inari, Unisem, and MPI for their robust earnings growth prospects. “Their earnings visibility is strong with their pipeline backed by emerging trends including global 5G rollout, increasing digitalisation amid the COVID-19 pandemic, as well as prospects of a global economic recovery,” it added.
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