FRONTKN - the myth of dual-engine stock.
When everyone mentions INARI, they will associate it with $Broadcom (AVGO.US)$ , and when it comes to FRONTKN, it will definitely be associated with taiwan semiconductor. FRONTKN's PAT in the first half of the year fell by 5.5%, which is one of the smallest declines in the semiconductor sector. This is mainly due to the outstanding performance in the oil & gas sector, countering the decline in the technology business.
Entering the second half of the year, the company stated that the Petronas contract remains positive, and another customer, taiwan semiconductor, will perform better in the second half of the year than in the first half. Therefore, the stock price has shown strong performance, rising by over 60% from the previous bottom.
Over the past two years, FRONTKN has been actively expanding, and in FY23, due to the completion of CAPEX, cash surged to historically high levels, with Net Cash reaching RM380.6 million. With high oil prices and the expected recovery in the semiconductor sector next year, it is believed that in FY24, Frontkn is expected to reach new heights. Best regards.
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