Globetronics Technology Berhad

Titan Weekend Chart Reviews

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)

Been slowly recovering back towards the RM 0.60+ regions over the past month here.

For now as long as able to sustain above its RM 0.59 immediate support, could continue to trend back up towards the RM 0.65+ major resistance levels soon in the coming weeks.

Support: RM 0.59, RM 0.575, RM 0.565 areas
Resistance: RM 0.61, RM 0.635, RM 0.65 areas

Titan Trading Notes For Monday [25/11/2024]:

$KLCI had a slight rebound back towards the 1589 points region with an overall mixed market sentiment as we still saw over 550 counters closing red for the day on Friday. Daily trading volume settled around the 2.5 billion mark, which is still quite low.

Main stocks that showed strong buying momentum would be the likes of GTRONIC, 99SMART, PCHEM, YEWLEE, TENAGA, and RL. All of which were able to sustain their rallies throughout the day on the top volumes list despite the mixed market sentiment.

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD) definitely stood out during last Friday as it was able to breakout all the way towards the RM 0.57 regions with huge volume and buying momentum here despite the mixed market sentiment.

This came after it retraced over the past few months here all the way back towards the RM 0.50+ major support level. For now still facing selling pressure around its RM 0.57 main downtrend resistance level here. If able to breakout from this region, then it could be quite promising for GTRONIC.

Will be monitoring GTRONIC closely here.

$PCHEM / 5183 (PETRONAS CHEMICALS GROUP BERHAD) since retracing all the way back towards its RM 4.50+ major support levels last week, had been able to rebound quite well back towards the RM 4.90+ regions with huge volume and buying momentum.

This came after it reported its first ever loss in the latest QR report. That said, as long as able to hold above its RM 4.80+ immediate support, could continue to rebound back towards the RM 5.10+ regions soon here.

Will be monitoring PCHEM closely.

$PCHEM / 5183 (PETRONAS CHEMICALS GROUP BERHAD) since retracing all the way back towards its RM 4.50+ major support levels last week, had been able to rebound quite well back towards the RM 4.90+ regions with huge volume and buying momentum.

This came after it reported its first ever loss in the latest QR report. That said, as long as able to hold above its RM 4.80+ immediate support, could continue to rebound back towards the RM 5.10+ regions soon here.

Will be monitoring PCHEM closely.

$SENDAI / 5205 (EVERSENDAI CORPORATION BERHAD) since breaking out towards the RM 0.78+ regions, had actually been retracing-consolidating over the past 5-6 months here with RM 0.465+ as the major support level.

Recently, it seems to have broken out from its RM 0.55+ main downtrend resistance with good volume and buying momentum here. So far still able to hold quite well and as long as able to sustain above its RM 0.55 support, could continue to trend up towards the RM 0.64 - RM 0.65+ regions soon for an uptrend continuation pattern.

Will be monitoring SENDAI closely here.

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)
Research by RHB

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD) popcorn ready?

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)
Research by RHB

Titan Trading Notes For Thursday [26/9/2024]:

Although $KLCI managed to breakout towards the 1673 points region, the overall market sentiment was still quite bearish as we saw almost 800 counters closing red for the day. Daily trading volume settled around the 3.5 billion mark, which is just average here and dominated by selling activities.

Main stocks that showed strong buying momentum would be the likes of GTRONIC, 99SMART, MRDIY, SIME, APB, and TANCO. All of which were able to sustain their rallies throughout the day on the top volumes list despite the weak market sentiment.

Although $GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD) broke out strong towards the RM 0.80 major resistance levels early in the morning, it was met with fierce selling pressure which saw the stock retrace back towards the RM 0.735 regions towards closing.

So far still not looking too bad here as it's still able to see some buying support above its RM 0.715+ main support levels now. As long as able to sustain, could rebound back towards and beyond the RM 0.76+ major resistance levels soon to potentially go for the next wave up.

Will be monitoring GTRONIC closely here.

$MRDIY / 5296 (MR D.I.Y. GROUP) on the other hand since retracing back towards the RM 1.95+ major support levels earlier last week, had been able to withstand its buying momentum and broke out strong today towards the RM 2.18 regions with huge volume despite the weak market.

So far looking very ripe for an uptrend continuation pattern here and as long as able to hold above its RM 2.10 immediate support, could continue on to trend up towards and beyond the RM 2.30 - RM 2.50+ regions soon.

Will be monitoring MRDIY closely here as seems to be breaking out strong.

$SENDAI / 5205 (EVERSENDAI CORPORATION BERHAD) over the past few weeks, had been able to hold quite well above its RM 0.53+ main support levels on the daily chart with decent buying momentum and volume here despite the mixed sentiment.

So far still able to maintain its strength quite well here and could breakout from its RM 0.60+ main downtrend resistance levels anytime soon as long as able to withstand above its RM 0.53+ main support levels.

Titan Trading Notes For Tuesday [24/9/2024]:

$KLCI retraced briefly back towards the 1665 points region with an overall negative market sentiment as we saw over 670 counters closing red for the day. Daily trading volume settled around the 3.3 billion mark, which is slightly lower than last week's.

Main stocks that showed strong buying momentum would be the likes of GTRONIC, CAPITALA, VELESTO, 99SMART, TANCO, SIMEPROP, MRCB, MQTECH, GENETEC, SPSETIA, SIME, UEMS, and YTLPOWR. All of which were able to sustain their rallies throughout the day on the top volumes list.

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD) was definitely one of the best performers today as it was able to breakout strong all the way towards the RM 0.71+ major resistance levels with huge volume and buying momentum despite the weak market sentiment.

So far this rebound is looking quite strong here and as long as able to sustain above its RM 0.66+ immediate support levels, could continue on towards and beyond the RM 0.725+ major resistance levels soon for a further rebound.

Will be monitoring GTRONIC closely here for a potential entry opportunity.

CAPITALA since breaking out from its RM 0.82+ main downtrend resistance, had been able to perform very well and rallied all the way towards its RM 0.93 major resistance levels here despite being overbought on the daily chart.

For now still looking strong here and as long as able to hold above its RM 0.87+ immediate support levels, could continue on towards and beyond its RM 0.93+ major resistance levels to potentially test the RM 0.98 - RM 1 regions soon.

Will be monitoring CAPITALA closely here as seems to be very strong with huge volume building up.

$SIMEPROP / 5288 (SIME DARBY PROPERTY BERHAD) since breaking out from its RM 1.44+ main downtrend resistance levels last week, had been able to maintain its strength and rallied all the way towards the RM 1.56+ regions today with good volume.

Although unable to close on its intraday high, its closing price of RM 1.55 was still a pretty good one. As long as able to hold above its RM 1.44+ immediate support on the daily chart, could continue on towards and beyond the RM 1.68+ major resistance levels soon for an uptrend continuation pattern.

Technical Review – Globetronics Technology (7022)

Following the panic-induced overselling of Globetronics Technology Bhd (GTRONIC) in early September 2024, we have observed a strong recovery in its share price. This rebound is supported by robust buying interest, as indicated by the prominent red bars on the chart. Additionally, the Relative Strength Index (RSI) reflects a relatively healthy buying momentum, suggesting that the market's confidence in the stock is recovering.

From a fundamental perspective, GTRONIC has been a key player in the outsourced semiconductor assembly and test (OSAT) sector in Malaysia, with a solid track record over the years. The recent share price movement appears to align with a value recovery, as market sentiment stabilises and buying interest continues to build.

Technical Levels:

● Support Levels: RM0.670 (S1), RM0.615 (S2)

● Resistance Level: RM0.700 (R1)

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)

Titan Trading Notes For Friday [20/9/2024]:

$KLCI had a decent breakout towards the 1665 points region today with an overall positive market sentiment. Daily trading volume also managed to clinch back up towards the 3.9 billion mark, which is a positive sign.

Main stocks that showed strong buying momentum would be the likes of GTRONIC, GENETEC, CEB, 99SMART, MRCB, LHI, YTL, JCY, SUNWAY, SIMEPROP, MALAKOF, CAPITALA, NOTION, and YTLPOWR. All of which were able to sustain their rallies throughout the day on the top volumes list.

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD) was definitely one of the best performers today as it was able to breakout strong towards the RM 0.63 regions today with huge volume and buying momentum.

This came after weeks of consolidation with RM 0.52+ as the main support levels. For now looking quite strong here and as long a sable to sustain above its RM 0.585 immediate support, could continue to rebound further towards the RM 0.66+ major resistance levels.

Will be monitoring GTRONIC closely as it looks quite ripe for a stronger rebound here.

$GENETEC / 0104 (GENETEC TECHNOLOGY BERHAD) on the other hand was also able to breakout strong from its RM 0.93 major downtrend resistance and rallied all the way towards the RM 0.97 levels with good volume and buying momentum.

So far looking quite strong here and as long as able to sustain above its RM 0.88 - RM 0.90 main support levels, could continue on towards the RM 1+ regions for a further rebound.

Will be monitoring GENETEC closely here as it had been consolidating over the past 2 weeks with RM 0.80+ as the main support level already.

$99SMART / 5326 (99 SPEED MART RETAIL HOLDINGS BERHAD) after consolidating over the past week with RM 1.85+ as the main support and RM 1.90 as the main resistance, was able to breakout strong and rally all the way towards the RM 1.97 levels, forming a new high here.

For now looking quite strong here for a potential uptrend wave. As long as able to sustain above its RM 1.92 immediate support, could continue on towards and beyond the RM 2+ regions soon.

Will be monitoring 99SMART closely here.

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)

Worth looking at on this counter. 10 years low.

Nevertheless tech have been bleeding like nobody’s business.

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)
Research by MIDF
NEUTRAL – TP RM1.09

" Challenging Outlook to Persist”

• Maintain NEUTRAL with a slight revision to target price, to RM1.09, post the group’s 2QFY24 financial performance
• Slight improvement in 2QFY24 leading to weak 1HFY24 earnings recovery of RM8.3m which cam in below our expectation
• Future volume loading remains a concern as any improvement in revenue outlook may only be observed earliest by 4QFY24
• Weak earnings outlook to translate to lower dividend yield of less than two percent in the near-term

Analyst:
Foo Chuan Loong, Martin
martin.foo@midf.com.my

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)
Research by Maybank
HOLD – TP RM 1.12

" 2Q24: Still weak”

GTB’s 1H24 earnings delivery continued to underwhelm as the company reported its lowest quarterly turnover on record in 2Q24. We lower FY24- 26E earnings by 19-36%. Our TP is now pegged to -1.0SD to LT mean (previously -0.5SD) to account for GTB’s prolonged weak medium-term outlook. On 23x FY25E PER peg, our new TP is MYR1.17 (-29%). HOLD.

Analyst:
Anand Pathmakanthan
anand.pathmakanthan@maybank-ib.com
Arvind Jayaratnam
arvind.jayaratnam@maybank.com

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)
Research by RHB
Neutral – TP RM 1.21

"Dialling Back Our Expectations For FY24”

Maintain NEUTRAL, with new MYR1.21 TP from MYR1.29, 8% upside andc.3% FY25F yield. 1H24 core earnings of MYR9.5m (+39.4% YoY) missed expectations due to slower-than-expected topline despite margin expansions from favourable FX movement. We dial back our expectations and anticipate a year of contraction for FY24F, before rebounding in FY25F with potential contribution from new programmes. Current valuation looks fair given the dull near-term outlook despite the share price taking a beating

Analyst:
Lee Meng Horng
lee.meng.horng@rhbgroup.com

$ATAIMS / 8176 (ATA IMS BERHAD): A Notable Investor Takes the Spotlight

Mr. Ooi Keng Thye, a lesser-known but accomplished individual investor in Malaysia, has steadily built a reputation in the investment community, particularly in the tech sector. Though not as widely recognized as prominent figures like Fong Siling and Koon Yew Yin, Mr. Ooi's investment successes provide valuable insights for those interested in technology stocks.

1. $FRONTKN / 0128 (FRONTKEN CORPORATION BERHAD): Among Mr. Ooi's most successful ventures is his investment in FRONTKN. During a period when the company's fundamentals were shaky and its share price hovered between RM0.15 and RM0.20, Mr. Ooi made a strategic move, purchasing shares at around RM0.15 to RM0.30. By FY14, he had acquired a significant stake of 2.8 million shares, eventually increasing his holdings to 141 million shares by FY18. This investment is widely regarded as one of Mr. Ooi's most successful endeavors.

2. $INARI / 0166 (INARI AMERTRON BERHAD): Mr. Ooi also became a substantial shareholder of INARI in FY13. However, subsequent rights issues diluted his stake, and he no longer appeared as a significant shareholder in later years.

3. $GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD): As of the FY23 annual report, Mr. Ooi holds 74.2 million shares in GTRONIC, with the latest updates indicating an increase to 76.9 million shares, further solidifying his position in the tech sector.

4. Recent Developments in ATAIMS: The latest FY24 report from ATAIMS reveals Mr. Ooi as a substantial shareholder with 25.9 million shares. ATAIMS had previously faced challenges, including significant losses following the loss of Dyson as a major customer. However, the share price has shown signs of recovery, and the company recently announced a partnership with a Chinese firm to explore opportunities in the household and electrical appliances market.

5. $NOVAMSC / 0026 (NOVA MSC BERHAD): Beyond these well-known companies, Mr. Ooi is also the largest shareholder in NOVAMSC, holding a 14.79% stake. However, the future profitability of this loss-making company remains uncertain.

Additional Listing Announcement /Subdivision of Shares

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

$GTRONIC / 7022 (GLOBETRONICS TECHNOLOGY BERHAD)
Research by Maybank
Hold – TP RM1.65

“A clear shift in strategy"

We hosted GTB’s new leadership team recently and came away feeling comforted on its longer-term outlook trajectory. We adjust earnings for FY24-26E by -6%/+4%/+12% and raise our TP to MYR1.65 (+60sen). Post-recalibration of GTB’s 5Y fwd PER mean, our TP is now pegged to 26x FY25E PER, at -0.5SD to LT mean (previously 21x FY25 PER, at -1.5SD). We U/G GTB to a HOLD. Despite pledging to diversify its customer base and elevate capex to remain competitive with peers, we are cautious on execution. A successful ramp-up in production serves as our next re-rating catalyst.

Analysts:
Anand Pathmakanthan
anand.pathmakanthan@maybank-ib.com
Arvind Jayaratnam
arvind.jayaratnam@maybank.com

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Additional Listing Announcement /Subdivision of Shares

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - EMPLOYEES PROVIDENT FUND BOARD ("EPF BOARD")