[%yGCy%] 
Research by Kenanga
Outperform - TP of RM3.40

"A Growing Pie"

Slated to be fully occupied by a single existing customer, PIE is currently installing equipment in its Plant 5, which is expected to be operational by 2QCY24. It has on-boarded four new customers  which will contribute 8%-12% of its FY24F total revenue while  demand from its existing customers will continue to stay robust.  We maintain our forecasts, TP of RM4.00 and OUTPERFORM call.

Analyst(s):
Samuel Tan
[%PYSN%]

$KLSE-PIE 
Research by Kenanga
Outperform - TP of RM3.40

"A Growing Pie"

Slated to be fully occupied by a single existing customer, PIE is currently installing equipment in its Plant 5, which is expected to be operational by 2QCY24. It has on-boarded four new customers  which will contribute 8%-12% of its FY24F total revenue while  demand from its existing customers will continue to stay robust.  We maintain our forecasts, TP of RM4.00 and OUTPERFORM call.

Analyst(s):
Samuel Tan
samueltan@kenanga.com.my