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Research by Maybank
Buy – TP RM28.20

“1Q24: On track"

HEIM’s 1Q24 results were within expectations. Recent product price adjustments may hurt sales volume in the short-term but consumer spending may gradually increase from financial support measures in 2H24. Our earnings estimates, BUY call and DCF-TP of MYR28.20 (WACC: 7%, LT growth: 3%) are unchanged.

Analyst:
Jade Tam
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$KLSE-HEIM
Research by Maybank
Buy – TP RM28.20

“1Q24: On track"

HEIM’s 1Q24 results were within expectations. Recent product price adjustments may hurt sales volume in the short-term but consumer spending may gradually increase from financial support measures in 2H24. Our earnings estimates, BUY call and DCF-TP of MYR28.20 (WACC: 7%, LT growth: 3%) are unchanged.

Analyst:
Jade Tam
jade.tam@maybank-ib.com