$SURIA / 6521 (SURIA CAPITAL HOLDINGS BERHAD)
Research by MIDF
Sell (Downgrade) – Target Price RM1.60

“Pending Port Tariff Revisions”

KEY INVESTMENT HIGHLIGHTS
• 4QFY23 core PATAMI missed our estimate
• Earnings dragged by amortisation expenses
• Anticipating full-year cargo contribution from KKIP plants
• Downward revisions of earnings between -28% to -29%
• Downgrade to SELL with a revised TP of RM1.60

Analyst:
MIDF Research Team
research@midf.com.my