Tuesday 16 Jul 2024
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KUALA LUMPUR (March 14): Hong Leong Investment Bank (HLIB) Research said that after undergoing the reorganisation process since 2018, Ta Win Holdings Bhd had finally turned into the black and registered a core net profit of RM4.6 million for the second quarter ended Dec 31, 2021 (2QFY22), thanks to the better performance of its copper rod business, coupled with the contribution from its subsidiaries Cyprium Wire Technology Sdn Bhd and Sin Line Tek.

In a technical tracker on Monday (March 14), the research house said that going forward, it expects stronger performance in the ensuing quarters, premised on the optimism from the new capacity and the contribution from POSCO International, South Korea’s largest trading company starting from 3QFY22 that will significantly drive the group's bottom line.

“In the wake of the rising indicators and higher low patterns, a decisive breakout above 15 sen may spur the price towards 17 sen-19 sen-20 sen zones.

“Cut loss at 12.5 sen,” it said.

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