$BIPORT / 5032 (BINTULU PORT HOLDINGS BERHAD)
Research by Ambank
Buy - TP of MYR6.50

“Beneficiary of prolific projects in Sarawak”

We maintain BUY on Bintulu Port (BiPort) with an unchanged DCF-derived fair value (FV) of RM6.50/share (WACC: 9%, TG; 3.5%). Our FV implies a FY24F PE of 23x, a 1.5 standard deviation above its 5-year average PE of 15x. There is no FV adjustment for ESG based on our 3- star rating.

Analyst(s):
AmInvestment Bank
Team Coverage