Inari Amertron (Inari) has entered into a memorandum of understanding (MoU) with private equity fund management company, China Fortune-Tech Capital Co (CFTC) to jointly establish outsourced semiconductor assembly and test (OSAT) manufacturing business to cater for the demand in China. In addition, Inari will also inject its Amertron Technology (Kunshan) Co into the 55:45 joint venture (JV) company. Given CFTC’s vast connection in the China’s technology industry, we believe the proposed JV could help accelerate Inari’s expansion in China and diversify its income stream. Maintain Outperform call with an unchanged TP of RM4.75 based on 45x CY22 EPS. We remain upbeat on the ongoing 5G network roll-out across the global cities and commendable 5G smartphone sales by Broadcom’s key customer.
Source: PublicInvest Research - 20 Oct 2021
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INARICreated by PublicInvest | Jul 02, 2024