[%nVUf%] 
Research by Kenanga
Outperform -TP of RM1.06

"Key Focus on Margins and Innovation"

KAREX guided for its gross profit margin to sustain at between 30% and 35%, driven by a favourable product mix, stable input cost and the introduction of a high-margin new product, i.e. synthetic condoms. The new product will also enhance KAREX's competitiveness in terms of wider product offerings. We maintain our forecasts, TP of RM1.06 and OUTPERFORM call.

Analyst(s):
Cheow Ming Liang 
[%NqIO%]

$KLSE-KAREX 
Research by Kenanga
Outperform -TP of RM1.06

"Key Focus on Margins and Innovation"

KAREX guided for its gross profit margin to sustain at between 30% and 35%, driven by a favourable product mix, stable input cost and the introduction of a high-margin new product, i.e. synthetic condoms. The new product will also enhance KAREX's competitiveness in terms of wider product offerings. We maintain our forecasts, TP of RM1.06 and OUTPERFORM call.

Analyst(s):
Cheow Ming Liang 
cheowml@kenanga.com.my