As for Bursa Malaysia’s technology sector, where semiconductor stocks dominate, earnings were largely in line with analysts’ expectations. Greatech Technology Bhd has slid 42% year to date, while Pentamaster Corp Bhd has shed close to 30% over the same period. The sector’s PER currently stands at 25.22 times, compared with 36.73 times in 2021 and 46.61 times in 2020. Recovery plays met expectations in 1Q2022 in terms of revenue, yet some — especially those in the consumer sector — were hit with higher costs, says MIDF’s Imran. Genting Malaysia Bhd (GenM) is a new top pick for CGS-CIMB Research, which sees the leisure group as a recovery play.

Source: The Edge Markets June 16, 2022 12:09 UTC