[%TaEi%]
Research by TA Securities
Sell – Target Price RM0.76

“Cost Pressure Still High in 1QFY24”
Excluding fair value gains (RM8.8mn), impairment loss on inventory (RM4.3mn) and other exceptional items, Tiong Nam Logistics Holdings’ (Tiong Nam) 1QFY24 core earnings slipped to a loss of RM3.8mn versus our previous FY24 profit forecast of RM9.6mn. However, we consider this as within expectations as Tiong Nam’s FY24 earnings would be backend loaded with maiden contributions from Senai mega warehouse and Sedenak Tech Valley.


Analysts:
Tan Kam Meng
[%QtjJ%]

$KLSE-TNLOGIS
Research by TA Securities
Sell – Target Price RM0.76

“Cost Pressure Still High in 1QFY24”
Excluding fair value gains (RM8.8mn), impairment loss on inventory (RM4.3mn) and other exceptional items, Tiong Nam Logistics Holdings’ (Tiong Nam) 1QFY24 core earnings slipped to a loss of RM3.8mn versus our previous FY24 profit forecast of RM9.6mn. However, we consider this as within expectations as Tiong Nam’s FY24 earnings would be backend loaded with maiden contributions from Senai mega warehouse and Sedenak Tech Valley.


Analysts:
Tan Kam Meng
kmtan@ta.com.my

$TNLOGIS / 8397 (TIONG NAM LOGISTICS HOLDINGS BERHAD)