[%UgHh%] 
Research by Maybank
Hold - TP of MYR1.23

"2QFY24 earnings on track"

2QFY24 results and 1st interim gross DPU of 4.18sen (1HFY23: 3.06sen) were within expectations with 1HFY24 core earnings coming in at 53%/52% of our/consensus’ full-year estimates. No changes to our forecasts. However, we lower our beta assumptions to 0.6, in-line with Bloomberg indicative beta, deriving a higher TP of MYR1.26 (+17%). Downgrade to HOLD due to limited upside.

Analyst(s):
Nur Farah Syifaa 
[%uluw%]

$KLSE-YTLREIT 
Research by Maybank
Hold - TP of MYR1.23

"2QFY24 earnings on track"

2QFY24 results and 1st interim gross DPU of 4.18sen (1HFY23: 3.06sen) were within expectations with 1HFY24 core earnings coming in at 53%/52% of our/consensus’ full-year estimates. No changes to our forecasts. However, we lower our beta assumptions to 0.6, in-line with Bloomberg indicative beta, deriving a higher TP of MYR1.26 (+17%). Downgrade to HOLD due to limited upside.

Analyst(s):
Nur Farah Syifaa 
nurfarahsyifaa.mohamadfuad@maybank-ib.com

nurfarahsyifaa.mohamadfuad@maybank-ib.com