Amtek

Amtek: UOBK maintains Buy with TP $0.63, notes after 8 consecutive quarters of declining y/y operational profitability, expectations of Amtek are low. Underpinned by strong tooling sales in FY13, hte house likes the odds of a sustained recovery in Amtek should the global economy continue to improve. Valuations are attractive valuations at 8.2x FY14e P/E (20% discount to peers) despite its better margins, ROE and higher yield of 6.1%.