[%xUYj%]
Research by TA
Hold – TP RM23.27

“Business to Remain Solid"

Given that Allianz’s share has risen steeply, we downgrade the stock to HOLD (previously Buy) with a TP of RM23.27/share based on SOP valuation.

Analyst:
Tan Kong Jin 
[%eLzr%]

$KLSE-ALLIANZ
Research by TA
Hold – TP RM23.27

“Business to Remain Solid"

Given that Allianz’s share has risen steeply, we downgrade the stock to HOLD (previously Buy) with a TP of RM23.27/share based on SOP valuation.

Analyst:
Tan Kong Jin 
kjtan@ta.com.my

$ALLIANZ / 1163 (ALLIANZ MALAYSIA BERHAD)