[%jvTG%]
Research by Kenanga
Outperform - TP of MYR6.75

“A Slice of AI Pie” 

PIE, we understand, via referral from a key shareholder, has secured a new sizeable AI server client that will take up the entire Plant 6 (c. 280k sq ft), its largest facility. We understand that PIE will be the new customer’s sole contract manufacturer outside of China. We raise our FY25F earnings forecast by 10%, lift our TP by 69% to RM6.75 (from RM4.00) and reiterate our OUTPERFORM call.

Analyst(s):
Samuel Tan 
[%FWzq%]

$KLSE-PIE
Research by Kenanga
Outperform - TP of MYR6.75

“A Slice of AI Pie” 

PIE, we understand, via referral from a key shareholder, has secured a new sizeable AI server client that will take up the entire Plant 6 (c. 280k sq ft), its largest facility. We understand that PIE will be the new customer’s sole contract manufacturer outside of China. We raise our FY25F earnings forecast by 10%, lift our TP by 69% to RM6.75 (from RM4.00) and reiterate our OUTPERFORM call.

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