PETALING JAYA: Apex Securities Bhd has reiterated its “buy” recommendation on Aurelius Technologies Bhd
(ATech) with an unchanged target price of RM3.22 following the group’s commitment to factor in future growth through its newly purchased plant.
In a note, the research house said ATech had signed a letter of offer to purchase industrial land in the Kulim High-Tech Park from Northern Technocity Sdn Bhd for RM12.2mil in cash.
The land is six km from its current operating plant.
The multicomponent semiconductor provider plans to construct a manufacturing plant which is set to become the main automotive manufacturing hub.
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