DBS Group Research has initiated coverage on electronics manufacturer Valuetronics Holdings with a 'hold' call and a target price of S$0.53. Read more at The Business Times.
Since the onset of the US-China trade war in early-2018, Valuetronics had begun to see customers diversify their supply chains out of China. Despite the Phase One trade deal, many US tariffs placed on China remained. Moreover, a large majority of the company's shipments to the US are subjected to tariffs ranging from 7.5 per cent to 25 per cent.
That said, Valuetronics' disciplined approach in managing its cash reserves will be useful in tiding the company through difficult times. The company's cash reserves of HK$1 billion , which is 52.3 per cent of total assets and 76.4 per cent of its market capitalisation.
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