Welcome to this week’s edition of Top Stock Highlights where we cover earnings, business updates and interesting corporate events and announcements. UMS Holdings Limited (SGX: 558) UMS Holdings, a company that provides equipment manufacturing and engineering services to original equipment manufacturers, reported a solid set of earnings for its fiscal 2022’s first quarter (1Q2022). Revenue surged by 71% year on year to S$84.7 million while net profit increased by 26% year on year to S$19.4 million. The group saw an increase in semiconductor demand which buoyed sales, and enjoyed maiden contribution from the aerospace business following its acquisition of JEP Holdings Ltd (SGX: 1J4). Aerospace revenue came up to S$3 million for the quarter, and UMS expects this to improve with a rebound in the aviation industry as more countries reopen their borders. UMS generated a free cash flow of S$18.7 million, 26.4% higher than the S$14.8 million a year ago....