Wednesday, October 19, 2011

JCY active, up in afternoon session

KUALA LUMPUR: JCY International Bhd shares were actively traded in the afternoon session on Wednesday, Oct 19 as the hard disk drive'' manufacturer'' was viewed by investors as less affected from the severe flooding in Thailand which had impacted other players.


At 3.20pm, JCY rose 11 sen to 56.5 sen with 42.65 million shares done.

The floods in Thailand have forced the shutdown of the facilities some of the Malaysian HDD makers with operations in that country.

An analyst with MIDF Research said while JCY's plant located in Saraburi, Thailand was also affected, it was possible that the impact was not as significant.

'Looking at their latest quarterly result, Malaysia accounts for 76% of its revenue, while the rest are lumped together as others and individually fall below the 10% threshold of a reportable segment.

'So with the flooding in Thailand affecting HDD makers there, it could redirect some of the demand towards Malaysia based manufacturer such as JCY to fill in the gap,' he said.

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