Dealing, Product Financing and Custody Services, Tickrs

Tickrs

Dealing, Product Financing and Custody Services

Tickrs Financial Singapore Pte Ltd (TFS) obtained Capital Markets Services (CMS) License from the Monetary Authority of Singapore (MAS) in 2022. Product offering include stock trading services across 10 global markets, futures trading, fixed income and wealth management products offering.

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<ul><li>Frencken's diversified business model, improving semiconductor end-market dynamics, and strong financial position support a balanced yet constructive investment case: 1.</li><li>Trusted Manufacturing Partner with Diversified Exposure With a 60-year operating history, Frencken provides end-to-end OEM/ODM solutions for world-class multinationals across semiconductors, life sciences, healthcare, industrial automation, and automotive sectors.</li><li>This broad exposure yields resilience, as weakness in one segment can be buffered by stability in others.</li></ul>

Frencken's diversified business model, improving semiconductor end-market dynamics, and strong financial position support a balanced yet constructive investment case: 1.Trusted Manufacturing Partner with Diversified Exposure With a 60-year operating history, Frencken provides end-to-end OEM/ODM solutions for world-class multinationals across semiconductors, life sciences, healthcare, industrial automation, and automotive sectors.This broad exposure yields resilience, as weakness in one segment can be buffered by stability in others.

Frencken Group Initiation : Riding the Semiconductor Upcycle

External broker reports(aggregated public sources), RHB Invest

RHB Invest

External broker reports(aggregated public sources)

RHB Investment Bank is one of the leading capital market players in Malaysia. Supported by an award-winning research team of experienced product specialists, RHB Group Investment Banking offers a full range of investment banking products and services covering primary markets, such as advisory (corporate & debt restructuring, mergers and acquisitions, takeovers), fundraising via both equity and debt instruments, and secondary markets including securities trading for both institutional and retail clients. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We maintain our NEUTRAL call, as Frencken’s 1Q23 update indicated weak demand and higher operating costs amid on-going excess inventory in the chip sector.</li><li>We see low utilisation rates from expanded capacities straining near-term margins, as the semiconductor market waits for inventory levels undergo a correction.</li><li>Frencken (SGX:E28)'s 1Q23 net profit was below our estimate, at S$5.2m (-60% y-o-y).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We maintain our NEUTRAL call, as Frencken’s 1Q23 update indicated weak demand and higher operating costs amid on-going excess inventory in the chip sector.We see low utilisation rates from expanded capacities straining near-term margins, as the semiconductor market waits for inventory levels undergo a correction.Frencken (SGX:E28)'s 1Q23 net profit was below our estimate, at S$5.2m (-60% y-o-y).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Frencken - Awaiting The Semiconductor Recovery To Kick In

External broker reports(aggregated public sources), UOB Kay Hian

UOB Kay Hian

Backed by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, we are supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. Our global footprint and strong international presence have enabled us to feel the pulse of key financial markets and deliver incisive intelligence across industry sectors and asset classes. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Frencken’s 1Q23 earnings of S$5.2m (-60% y-o-y) was below expectation, meeting only 11% of our full-year estimate mainly due to gross margin compression caused by continuing inflationary cost pressure and higher depreciation.</li><li>Frencken expects the business environment to remain challenging in 2023.</li><li>We cut our 2023 earnings forecast for Frencken by 44%. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Frencken’s 1Q23 earnings of S$5.2m (-60% y-o-y) was below expectation, meeting only 11% of our full-year estimate mainly due to gross margin compression caused by continuing inflationary cost pressure and higher depreciation.Frencken expects the business environment to remain challenging in 2023.We cut our 2023 earnings forecast for Frencken by 44%. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Frencken - 1Q23 Earnings Below Expectation Due To Weaker Margin, Outlook Remains Cautious

Malaysia

Frencken Group is a global integrated technology solutions company that provides original design, original equipment, and diversified integrated manufacturing solutions. It operates through two segments: Mechatronics, which designs and produces precision-engineered systems and components for industries like semiconductors and medical, and Integrated Manufacturing Services, offering contract manufacturing for automotive and office automation. The company's registered office is in Singapore, and it was founded in 1999.

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Frencken Group (FRKN SP)

Frencken Group Initiation : Riding the Semiconductor Upcycle

Frencken's diversified business model, improving semiconductor end-market dynamics, and strong financial position support a balanced yet...

Tickrs

Frencken - Awaiting The Semiconductor Recovery To Kick In

We maintain our NEUTRAL call, as Frencken’s 1Q23 update indicated weak demand and higher operating costs amid on-going excess inventory in the chip...

RHB Invest

Frencken - 1Q23 Earnings Below Expectation Due To Weaker Margin, Outlook Remains Cautious

Frencken expects the business environment to remain challenging in 2023. We cut our 2023 earnings forecast for Frencken by 44%.

UOB Kay Hian

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