[%AEmI%] 
Research by PIB
Outperform – TP of MYR 2.92

“Primed to Benefit from AI Boom” 

Following a recent meeting with MI Technovation’s management attended by Mr. Heng Kok Lin (CEO of SMBU) and Mr. Teo Chee Kheong (CEO of SEBU), we believe that the company is ready for a new business cycle for both smartphone and PCs as the evolving Artificial Intelligence (AI) development is set to impact both segments positively. The SMBU segment is also expected to benefit from higher demand for smaller solder balls in tandem with smaller chip packaging. In view of the positive sentiment, we maintain Outperform with a higher TP of RM2.92 based on a revised PE multiple of 33x FY25 EPS.

Analyst(s):
Chong Hoe Leong
[%jZAE%]

$KLSE-MI 
Research by PIB
Outperform – TP of MYR 2.92

“Primed to Benefit from AI Boom” 

Following a recent meeting with MI Technovation’s management attended by Mr. Heng Kok Lin (CEO of SMBU) and Mr. Teo Chee Kheong (CEO of SEBU), we believe that the company is ready for a new business cycle for both smartphone and PCs as the evolving Artificial Intelligence (AI) development is set to impact both segments positively. The SMBU segment is also expected to benefit from higher demand for smaller solder balls in tandem with smaller chip packaging. In view of the positive sentiment, we maintain Outperform with a higher TP of RM2.92 based on a revised PE multiple of 33x FY25 EPS.

Analyst(s):
Chong Hoe Leong
chonghoeleong@publicinvestbank.com.my