Demand remains strong; execution is key■ UMS's 2Q21 net profit formed 26%/28% of our and consensus full-yearforecasts, which was within expectations.■ The company declared a 1 Sct DPS in 2Q21 and announced a 1-for-4 bonusissue.■ Reiterate Add with an unchanged S$1.97 TP.

Read more of this post