- Hi-P's recently added customer Amazon rose 2.1% to US$251.38, a new record high after the company unveiled an upgraded version of its Kindle Tablet with a 7 inch screen.

- It will have new features such as custom built apps from Facebook and Skype a free internet calling service and will include a front facing high density camera for video calling, dual stereo speakers with Dolby Digital Plus Audio  and with higher storage capacity of 16 GB.  This is in addition to access to Amazon's eco-system of more than 22mln movies, TV HI-P / AMAZON S$0.91-HIPS.SI shows, songs, apps, games, books and magazines.  The cheapest model starts at US$199 while the US$499 version comes with 4G long term evolution wireless technology.

- Anticipation of this new model caused Amazon's share of the tablet market in the US to fall from 17% in 4Q '11 to only 4% last quarter.

- Hi-P has just started work for Amazon and we have a BUY on the stock.

Source: Lim & Tan - 7 September 2012