[%OciH%] 
Research by TA
Hold - TP of RM0.51

"Returning to the Black from Partial Cost Recovery"

Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) 4QFY23 results came in below expectations. FY23 core net loss was RM463.8mn (FY22: RM44.7mn core profit). We forecasted a core loss of RM398.9mn while the consensus forecast was core loss of RM132.3mn. The earnings miss was largely attributed to lower-than-expected cost recovery. 

Analyst:
Ong Tze Hern  
[%gYuE%]

$KLSE-MHB 
Research by TA
Hold - TP of RM0.51

"Returning to the Black from Partial Cost Recovery"

Malaysia Marine and Heavy Engineering Holdings Bhd’s (MHB) 4QFY23 results came in below expectations. FY23 core net loss was RM463.8mn (FY22: RM44.7mn core profit). We forecasted a core loss of RM398.9mn while the consensus forecast was core loss of RM132.3mn. The earnings miss was largely attributed to lower-than-expected cost recovery. 

Analyst:
Ong Tze Hern  
thong@ta.com.my

$MHB / 5186 (MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BERHAD)