[%OvXp%]
Research by CGSCIMB
Add (no change) – Target Price RM0.58

“Ready for a strong end to FY23F”

■ We deem 9M23 core net profit of RM15m in line at 66%/71% of our/Bloomberg consensus’ FY23F, as 4Q tends to be the strongest quarter. 
■ Trading revenue growth and metal stamping revenue recovery should help Danco to post stronger qoq earnings in 4Q23F, in our view.
■ Reiterate Add, with an unchanged TP of RM0.58 (based on 10x FY24F P/E). This note marks the transfer of coverage to Lew Cheng Wei.

Analysts:
LEW Cheng Wei 
[%TxKX%] 
Prem JEARAJASINGAM 
[%vIQD%]

$KLSE-DANCO
Research by CGSCIMB
Add (no change) – Target Price RM0.58

“Ready for a strong end to FY23F”

■ We deem 9M23 core net profit of RM15m in line at 66%/71% of our/Bloomberg consensus’ FY23F, as 4Q tends to be the strongest quarter. 
■ Trading revenue growth and metal stamping revenue recovery should help Danco to post stronger qoq earnings in 4Q23F, in our view.
■ Reiterate Add, with an unchanged TP of RM0.58 (based on 10x FY24F P/E). This note marks the transfer of coverage to Lew Cheng Wei.

Analysts:
LEW Cheng Wei 
chengwei.lew@cgs-cimb.com 
Prem JEARAJASINGAM 
prem.jearajasingam@cgs-cimb.com

$DANCO / 5276 (DANCOMECH HOLDINGS BERHAD)