Karin Technology

Karin Technology: OCBC maintain Hold with $0.2265 TP. Believe that growing macroeconomic headwinds could possibly stifle Karin Tech Components Distribution segment and enterprise hardware product sales. Nevertheless, expect this to be mitigated by grp’s new consumer electronics retail business, which offers a full range of Apple products. Add that Karin is likely to be a key beneficiary of Apple’s dominant position in the media tablets space. House raise FY12 revenue estimate by 2.9% (FY13 by 2.0%) and finetune assumptions for the retail stores contribution but trimcore net profit forecast marginally by 0.5% (FY13 by 2.8%) to account for higher operating expenses from the running of these stores.