[%Jbsa%] 
Research by MIDF
Buy – TP of MYR 3.96

“Stable ASP In Line with Expected Stable Brent Oil Price” 

GMB announced that the construction of 28km of pipelines were completed in 1QCY24, which included: (i) Tg Malim, Perak (16.2km), (ii) Tebong, Melaka (2.4km), (iii) Simpang Ampat, Penang (1.4km) and Kinta Valley, Perak (1.4km). As of 1QCY24, 160km of pipeline project is expected to be rewarded. Total pipeline YTD stood at 2,831 (CY23: 2,803).

Analyst(s):
MIDF Research Team 
[%qbkm%]

$KLSE-GASMSIA 
Research by MIDF
Buy – TP of MYR 3.96

“Stable ASP In Line with Expected Stable Brent Oil Price” 

GMB announced that the construction of 28km of pipelines were completed in 1QCY24, which included: (i) Tg Malim, Perak (16.2km), (ii) Tebong, Melaka (2.4km), (iii) Simpang Ampat, Penang (1.4km) and Kinta Valley, Perak (1.4km). As of 1QCY24, 160km of pipeline project is expected to be rewarded. Total pipeline YTD stood at 2,831 (CY23: 2,803).

Analyst(s):
MIDF Research Team 
research@midf.com.my