$HLFG / 1082 (HONG LEONG FINANCIAL GROUP BERHAD)
Research by MIDF
Buy (Maintain) – Target Price RM20.79

“2QFY24 Results: Solid Associate Contributions”

KEY INVESTMENT HIGHLIGHTS
• 6MFY24’s Core NP of RM1,574m was Above/Within our/street forecasts: 56%/54% of full-year forecasts
• Improved HLBK result
• HLA also saw good sequential quarter growth
• HLC was underwhelming
• Forecasts unchanged
• Maintain BUY | Revised TP of RM20.79 | based on SOTP Valuation

Analyst
Samuel Woo
samuel.woo@midf.com.my