[%crjk%] 
Research by Kenanga
Market Perform – TP of MYR 3.59

"Buoyed by Demand from Glove Sector” 

GASMSIA guided for gas sales volume growth of 4% to 5% in FY24, driven largely by strong demand from the rubber glove, consumer product and F&B sectors. We fine-tune up our FY24- 25F net profit forecasts by 1% each, tweak our TP up to RM3.59 (from RM3.55) but maintain our MARKET PERFORM call. The stock offers an attractive yield of >6%.

Analyst(s):
Teh Kian Yeong 
[%YMmw%]

$KLSE-GASMSIA 
Research by Kenanga
Market Perform – TP of MYR 3.59

"Buoyed by Demand from Glove Sector” 

GASMSIA guided for gas sales volume growth of 4% to 5% in FY24, driven largely by strong demand from the rubber glove, consumer product and F&B sectors. We fine-tune up our FY24- 25F net profit forecasts by 1% each, tweak our TP up to RM3.59 (from RM3.55) but maintain our MARKET PERFORM call. The stock offers an attractive yield of >6%.

Analyst(s):
Teh Kian Yeong 
tehky@kenanga.com.my