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Kenanga projects gradual recovery for KESM


KUALA LUMPUR: Kenanga Research expects KESM Industries Bhd's recovery to take on a more gradual pace than in other companies as its utilisation rate was impacted from the movement control order.

According to the research house, KESM's utilisation rate in FY21 dipped below 30% due to the sporadic relaxation and tightening of the restrictions.

"We anticipate a very gradual recovery for KESM instead of an exuberant one seen in other companies," it said in a note.

In FY22, Kenanga expects the utilisation rate to improve as the group increases the vaccination rate of its workforce,

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