$ASIAFLE / 7129 (ASIA FILE CORPORATION BHD)
Research by MIDF
Neutral (Maintain) – Target Price RM1.85

“Continuous Weak Demand for Non-Essential Products”

KEY INVESTMENT HIGHLIGHTS
• Within Expectation
• Flattish core PATANCI with higher operating margins more than offset the reduced revenue
• Better operational efficiency in 9MFY24
• Maintain Neutral with an unchanged TP of RM1.85

Analyst
Genevieve Ng Pei Fen
genevieve.ng@midf.com.my