[%DFPG%] 
Research by Maybank
Buy – TP of MYR 0.29

“Bye ex, welcome new partner” 

We attended Paramount’s (PAR MK; Not Rated; CP: MYR1.16) briefing yesterday. Key takeaways are: i) PAR views its new 21.5% stake in ECWI as a strategic investment and its involvement will be at the strategic planning level instead of daily operations, ii) PAR will seek Board seats in ECWI, and iii) PAR may increase its stake in ECWI if there is fundraising for future projects later. We are positive on this latest development. We maintain our earnings forecasts, MYR0.29 TP (0.6x FY24E PBV) and HOLD on ECWI.

Analyst(s):
Wong Wei Sum, CFA
[%NDBm%]

$KLSE-EWINT 
Research by Maybank
Buy – TP of MYR 0.29

“Bye ex, welcome new partner” 

We attended Paramount’s (PAR MK; Not Rated; CP: MYR1.16) briefing yesterday. Key takeaways are: i) PAR views its new 21.5% stake in ECWI as a strategic investment and its involvement will be at the strategic planning level instead of daily operations, ii) PAR will seek Board seats in ECWI, and iii) PAR may increase its stake in ECWI if there is fundraising for future projects later. We are positive on this latest development. We maintain our earnings forecasts, MYR0.29 TP (0.6x FY24E PBV) and HOLD on ECWI.

Analyst(s):
Wong Wei Sum, CFA
weisum@maybank-ib.com

$EWINT / 5283 (ECO WORLD INTERNATIONAL BERHAD)