[%BAYz%]
Research by Kenanga
Market Perform – TP of RM5.55

“Green Shoots of Recovery”

BIPORT’s FY23 results met expectations. Its 4QFY23 core net profit jumped 19% QoQ on a pick-up in cargo volumes, which could be signs of green shoots of recovery. We continue to like BIPORT for its stable income stream from handling LNG cargoes. We maintain our forecasts, TP of RM5.55 and MARKET PERFORM call. 

Analyst(s):
Wan Mustaqim 
[%ZZFE%]

$KLSE-BIPORT
Research by Kenanga
Market Perform – TP of RM5.55

“Green Shoots of Recovery”

BIPORT’s FY23 results met expectations. Its 4QFY23 core net profit jumped 19% QoQ on a pick-up in cargo volumes, which could be signs of green shoots of recovery. We continue to like BIPORT for its stable income stream from handling LNG cargoes. We maintain our forecasts, TP of RM5.55 and MARKET PERFORM call. 

Analyst(s):
Wan Mustaqim 
wanmustaqim@kenanga.com.my

$BIPORT / 5032 (BINTULU PORT HOLDINGS BERHAD)