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Research by Apex
Hold – TP of MYR2.05

“Above expectations”

KMLOONG’s FY24 core net profit at RM203.6m came above our expectations, driven by higher-than-expected CPO production and reduced operational costs which led to an increased net profit margin. Looking ahead, CPO prices are expected to average at RM4,000/mt backed by festive season consumption and heightened biodiesel demand. We maintain our HOLD recommendation with a target price of RM2.05 by pegging PE multiple of 14.2x to FY25f EPS of RM0.14.

Analyst(s):
Steven Chong
[%ULQC%]

$KLSE-KMLOONG
Research by Apex
Hold – TP of MYR2.05

“Above expectations”

KMLOONG’s FY24 core net profit at RM203.6m came above our expectations, driven by higher-than-expected CPO production and reduced operational costs which led to an increased net profit margin. Looking ahead, CPO prices are expected to average at RM4,000/mt backed by festive season consumption and heightened biodiesel demand. We maintain our HOLD recommendation with a target price of RM2.05 by pegging PE multiple of 14.2x to FY25f EPS of RM0.14.

Analyst(s):
Steven Chong
stevenchong@apexsecurities.com.my

$KMLOONG / 5027 (KIM LOONG RESOURCES BERHAD)