[%Tjfl%] 
Research by Kenanga
Outperform – TP of MYR 6.75

“Back on Track After Slight Hiccup” 

Currently, PIE is producing at 60% of Customer A’s orders (vs. 30%- 40% in 1QFY24) as integrated circuit (IC) shortages ease. The number should rise further in the coming months. We understand that there is strong demand for Customer A’s products. Its Plant 5 will come in handy next month as it will double the total floor space dedicated to Customer A. We maintain our forecasts, TP of RM6.75 and OUTPERFORM call.

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

$KLSE-PIE 
Research by Kenanga
Outperform – TP of MYR 6.75

“Back on Track After Slight Hiccup” 

Currently, PIE is producing at 60% of Customer A’s orders (vs. 30%- 40% in 1QFY24) as integrated circuit (IC) shortages ease. The number should rise further in the coming months. We understand that there is strong demand for Customer A’s products. Its Plant 5 will come in handy next month as it will double the total floor space dedicated to Customer A. We maintain our forecasts, TP of RM6.75 and OUTPERFORM call.

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