[%QbPO%]
Research by Kenanga
Outperform – TP RM1.70

“Growing Pains, Better Outlook in FY25"

OPPSTAR’s FY24 results disappointed. Its FY24 core net profit fell 34%, weighed down by increased headcount to drive expansion. Oppstar has recently partnered with Samsung’s wafer fab to be an enabler for fabless tech players, in addition to its expansion to Japan and China. We fine-tune down our FY25F earnings forecast by 1% and trim our TP to RM1.70 (from RM1.72). Maintain OUTPERFORM.

Analyst:
Samuel Tan 
[%TuOk%]

$KLSE-OPPSTAR
Research by Kenanga
Outperform – TP RM1.70

“Growing Pains, Better Outlook in FY25"

OPPSTAR’s FY24 results disappointed. Its FY24 core net profit fell 34%, weighed down by increased headcount to drive expansion. Oppstar has recently partnered with Samsung’s wafer fab to be an enabler for fabless tech players, in addition to its expansion to Japan and China. We fine-tune down our FY25F earnings forecast by 1% and trim our TP to RM1.70 (from RM1.72). Maintain OUTPERFORM.

Analyst:
Samuel Tan 
samueltan@kenanga.com.my