[%xfqs%] 
Research by Kenanga
Outperform – TP of RM1.06

“A Safe Bet on Mono Film”

SLP is seeing an uptick in orders, especially for kitchen bag exports to Japan. It expects a pick-up in orders for its machine direction- oriented PE (MDO-PE) film in mid-FY24. We raise our FY24-25F earnings forecasts by 12% and 9%, respectively, lift our TP by 10% to RM1.06 (from RM0.96) and upgrade our call to OUTPERFORM from MARKET PERFORM.

Analyst(s):
Teh Kian Yeong
[%iYHE%]

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

“A Safe Bet on Mono Film”

SLP is seeing an uptick in orders, especially for kitchen bag exports to Japan. It expects a pick-up in orders for its machine direction- oriented PE (MDO-PE) film in mid-FY24. We raise our FY24-25F earnings forecasts by 12% and 9%, respectively, lift our TP by 10% to RM1.06 (from RM0.96) and upgrade our call to OUTPERFORM from MARKET PERFORM.

Analyst(s):
Teh Kian Yeong
tehky@kenanga.com.my