0244 GMT - Frencken Group is likely to gain from the China+1 strategy and the expected semiconductor uplift in 2H next year, Maybank Research analyst Jarick Seet writes in a note. The integrated technology solutions provider is doing more new product introductions with its key semiconductor customers, he says. Frencken will also benefit from a key semiconductor customer shifting production to Southeast Asia from Europe, he adds. Manufacturers in Southeast Asia could also gain from President-elect Trump's proposed tariffs of at least 60% on goods from China, he says. Maybank maintains the stock's buy rating and target price of S$1.50. Shares are down 0.85% at S$1.16.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
December 15, 2024 21:44 ET (02:44 GMT)
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