[%gaWP%] 
Research by Kenanga
Market Perform - TP of RM0.96

"New Product to Cushion Downturn"

SLP’s FY23 results disappointed on cost pressures. Its FY23 core  net profit dropped 34% due to sluggish exports and higher labour  and utility costs. A more sustained recovery of the plastic  packaging industry still hinges on the health of the global  economy. We cut our FY24F earnings by 13% but maintain our TP  of RM0.96 and MARKET PERFORM call.

Analyst(s):
Teh Kian Yeong  
[%uljH%]

$KLSE-SLP 
Research by Kenanga
Market Perform - TP of RM0.96

"New Product to Cushion Downturn"

SLP’s FY23 results disappointed on cost pressures. Its FY23 core  net profit dropped 34% due to sluggish exports and higher labour  and utility costs. A more sustained recovery of the plastic  packaging industry still hinges on the health of the global  economy. We cut our FY24F earnings by 13% but maintain our TP  of RM0.96 and MARKET PERFORM call.

Analyst(s):
Teh Kian Yeong  
tehky@kenanga.com.my