[%NMth%]
Research by TA
Sell – TP RM0.46

“Disappointing Start to the Year"

Following the earnings revision, we reduce our target price to RM0.46 (RM0.52 previously) based on an unchanged target PER of 12x CY25 earnings. Maintain Sell on the stock.

Analyst:
Raymond Ng Ing Yeow 
[%KldJ%]

$KLSE-TRC
Research by TA
Sell – TP RM0.46

“Disappointing Start to the Year"

Following the earnings revision, we reduce our target price to RM0.46 (RM0.52 previously) based on an unchanged target PER of 12x CY25 earnings. Maintain Sell on the stock.

Analyst:
Raymond Ng Ing Yeow 
raymondng@ta.com.my