Monday, August 8, 2016

Results Note � UNISEM (SELL, maintain)


Top Calls

Results Note UNISEM (SELL, maintain)

- Relatively weak 2Q16

Although Unisem
s 1H16 results were above our expectations, the underlying tones remain weak. Sales in US$ continued to slip on a yoy basis largely due to an inventory problem, and now the company faces a delayed pick up in its smartphone segment. Reiterate SELL.


Other Calls

Economy Foreign Reserves

- Reserves unchanged at US$97.3bn as at end-July

Economy Trade

- Exports rose unexpectedly to 3.4% yoy in June



For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

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