KUALA LUMPUR, June 7 (Bernama) -- Yew Lee Pacific Group Bhd emerged as the most actively traded stocks on Bursa Malaysia in today’s early morning session, following its debut on the ACE Market.
In a research note, Rakuten Trade Sdn Bhd said it believes the overall sales will pick up in the coming quarters due to higher manufacturing activities in the markets the industrial brush manufacturer and hardware and machinery parts trader is serving.
“As it is a wearable product, most of its sales are repetitive from clients spreading various industries such as rubber glove manufacturers, industrial manufactures, agriculture, electrical and electronics contract manufacturers, food processing and industrials and commercial cleaning.
“Yew Lee Pacific has plans to widen its customer base to include quarrying, semiconductors and glass making manufacturers, which the management believes could offer customisation brushes to these segments for better margins,” it said.
Rakuten Trade recommends a “buy” call on the group with a target price (TP) of RM0.37.
At 11.41 am, the counter rose one sen to 29 sen, and saw 155.33 million shares changing hands.
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