Stock Digest - Kelington Group Bhd - Scaling Up To Another Peak

We gather that orderbook replenishment now stood at RM1.62bn, largely surpassing RM1.28bn recorded in FY21. Given that demand for from big data centers, electric vehicles, IoT and 5G applications are still in the picture, there is no slowdown in global wafer fabrication plant expansion plans. We believe that KGB is well positioned to ride onto the aforementioned growth and we made no changes to our orderbook replenishment assumption of RM1.20bn for FY23f.