Playing catch-up in 2H21F■ 1H21 PATMI below expectations, dragged by supply chain risks,unfavourable sales mix and one-off expenses for 2H21F ramp-up.■ COO departure has minimal impact. Demand still strong with new projects inthe pipeline; much will depend on customers' ability to secure components.■ Reiterate Add, with a lower TP of S$5.05, pegged to c.34x FY22F […]

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