Company Update: Riding on cloud demand
- Expect 30% and 23% capacity expansion in FY22 and FY23 respectively to support revenue growth
- Data centre demand is still strong, especially from cloud service providers
- Southeast Asia expansion a long-term catalyst; expect to secure more projects in the region
- Maintain BUY with a TP of HK$70, as a key beneficiary of strong data centre demand in China and Southeast Asia