[%WsAO%]
Research by Kenanga
Market Perform – TP of RM7.06

“Another Profitable Quarter”

KESM’s 1HFY24 results met expectations, recording a third consecutive quarterly profit. Its revenue improved 15% on better showing from the automotive segment. However, we remain cautious of continued drag from its non-automotive division. We maintain our forecasts, TP of RM7.06 and MARKET PERFORM call.

Analyst(s):
Samuel Tan 
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$KLSE-KESM
Research by Kenanga
Market Perform – TP of RM7.06

“Another Profitable Quarter”

KESM’s 1HFY24 results met expectations, recording a third consecutive quarterly profit. Its revenue improved 15% on better showing from the automotive segment. However, we remain cautious of continued drag from its non-automotive division. We maintain our forecasts, TP of RM7.06 and MARKET PERFORM call.

Analyst(s):
Samuel Tan 
samueltan@kenanga.com.my