Stock Name: JCY
Company Name: JCY INTERNATIONAL BERHAD
Research House: OTHER
JCY International Bhd, a Malaysian disk-drive components supplier, was downgraded to "hold" from "outperform" at Alliance Research Sdn Bhd to reflect a "bleak" outlook for its business.
The recent plunge in its shares was due to worker protests at the company's plant, it said in a report today. Salary adjustments for the workers would reduce earnings by RM7 million, Alliance said.
The share target price was cut to 94 sen from RM2.60 ringgit, it said. -- Bloomberg
Company Name: JCY INTERNATIONAL BERHAD
Research House: OTHER
JCY International Bhd, a Malaysian disk-drive components supplier, was downgraded to "hold" from "outperform" at Alliance Research Sdn Bhd to reflect a "bleak" outlook for its business.
The recent plunge in its shares was due to worker protests at the company's plant, it said in a report today. Salary adjustments for the workers would reduce earnings by RM7 million, Alliance said.
The share target price was cut to 94 sen from RM2.60 ringgit, it said. -- Bloomberg
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