Memtech: Updated investors at CIMB hosted NDR. On its switch from handset keypad supplier to an automotive player, Memtech expects 50% sales contribution from Auto by 2017, but should cap dependence of auto sales at 60% of sales, with the remaining to be filled by selected products in consumer electronics/ industrial/ medical/ others.
Memtech’s key advantage over peers is fast response time. Investors agreed that risks lies in Memtech’s execution as well as in product delays on customers’end.
CIMB maintains Add on Memtech with TP of $0.22
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