[%nErF%]
Research by TA
Buy – TP RM0.33

“Strong 1QFY24 Results as Expected"

Reiterate Buy with an unchanged TP of RM0.33/share pegged to 12x CY25 EPS. VELESTO is expected to continue benefiting from escalating DCR amidst tight jack-up drilling rig market.

Analyst:
Ong Tze Hern 
[%cFGT%]

$KLSE-VELESTO
Research by TA
Buy – TP RM0.33

“Strong 1QFY24 Results as Expected"

Reiterate Buy with an unchanged TP of RM0.33/share pegged to 12x CY25 EPS. VELESTO is expected to continue benefiting from escalating DCR amidst tight jack-up drilling rig market.

Analyst:
Ong Tze Hern 
thong@ta.com.my