UMS

UMS provided an update on its dual listing intentions of Korean Depository Receipts on KOSDAQ yesterday, with SIAS Research and CIMB upbeat about the dual listing potential, tipping a KDR listing to be listed at a premium given Korea’s strong semi-con industry. Highlights that Korean semi-con peers trades at an average of 1.96x P/B vs UMS 0.95x P/B…

Highlights optimism over UMS’s 3Q FY10 results which will be released within the next 3 weeks, due to strong reporting earnings from the North American semi-con industry which saw average bookings in the industry grow 45.1% vs 6 mths ago. CIMB has TP of $0.58, while SIAS has TP of $0.75.