[%iSZA%]
Research by Kenanga
Outperform – TP RM2.86

“Improved Margins for Stretch Film"

TGUAN guided for improved margins for its stretch film, which is marketed in the export market as a premium packaging solution. We are mildly positive on its new RM200m commercial development project in Sungai Petani, Kedah, given the incremental profits, albeit small. We maintain our forecasts, TP of RM2.86 and OUTPERFORM call.

Analyst:
Thin Yun Jing 
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$KLSE-TGUAN
Research by Kenanga
Outperform – TP RM2.86

“Improved Margins for Stretch Film"

TGUAN guided for improved margins for its stretch film, which is marketed in the export market as a premium packaging solution. We are mildly positive on its new RM200m commercial development project in Sungai Petani, Kedah, given the incremental profits, albeit small. We maintain our forecasts, TP of RM2.86 and OUTPERFORM call.

Analyst:
Thin Yun Jing 
thinyj@kenanga.com.my

$TGUAN / 7034 (THONG GUAN INDUSTRIES BERHAD)