[%kESv%]
Research by TA
Hold – TP RM1.74

“1QFY24 Boosted by Non-Recurring Income"

We include the hospitality segment into our SOP valuation and raise our TP to RM1.74/share (previously RM1.62/share). Maintain Hold. COASTAL currently trades at 7.9x FY25 EPS and 0.5x P/B value but there is a concern about the sustainability of earnings as some of its contracts gradually expire.

Analyst:
Ong Tze Hern 
[%StOg%]

$KLSE-COASTAL
Research by TA
Hold – TP RM1.74

“1QFY24 Boosted by Non-Recurring Income"

We include the hospitality segment into our SOP valuation and raise our TP to RM1.74/share (previously RM1.62/share). Maintain Hold. COASTAL currently trades at 7.9x FY25 EPS and 0.5x P/B value but there is a concern about the sustainability of earnings as some of its contracts gradually expire.

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