KUALA LUMPUR (March 16): Hong Leong IB Research has maintained its “Overweight” rating on the technology sector and said the industry was expected to expand healthily in FY15 signaling another record year in the making.

In a note Monday, the research house said smart devices remain the sector’s growth leader despite at a slower pace.

It said wearables, internet of things and big data were expected to fuel growth further.

“MIDA and MAEI are strategizing to attract capital intensive, knowledge based, hi-tech and high-value added investments such as into IC design / development and wafer fabrication.

“Strong greenback is definitely a boon to this export-oriented industry.

“Even excluding the US Dollar uplift, ViTrox Corporation Bhd is confident to achieve a double-digit organic growth. It is confident to extend its pioneer status leveraging on new product innovations.

“Talent scarcity or brain drain remains the ultimate threat to the industry.

“Reiterate Buy on ViTrox with unchanged target price of RM3.80,” it said.