Maybank KE upgrades Singapore, Malaysia tech stocks on 5G, IoT wave
Top picks include Frencken, Venture, UMS in Singapore, and Inari Amertron in Malaysia
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Singapore
MAYBANK Kim Eng (MKE) has upgraded its recommendation on the tech sector in Singapore and Malaysia to "positive" from "neutral".
As more companies adopt new technologies such as 5G, artificial intelligence and electric vehicles, MKE expects the outlook for manufacturers of semiconductor equipment and components to improve. Demand should also improve for those that are involved in testing and in precision engineering, said analysts Kevin Wong and Lai Gene Lih in a research note on Asean technology.
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