[%zsBF%] 
Research by Kenanga
Under Perform – TP of MYR 0.45

“Losses Widen in 1QFY24” 

KPS’s 1QFY24 results disappointed. Its 1QFY24 core net loss widened significantly YoY on sluggish orders amidst soft global demand for consumer electronics products. Not helping either was its inability to find replacement after losing customer T recently. We cut our FY24-25F earnings forecast by 50% and 5%, respectively, but keep our TP of RM0.45. Maintain UNDERPERFORM.

Analyst(s):
 Nigel Ng 
[%Jrzx%]

$KLSE-KPS 
Research by Kenanga
Under Perform – TP of MYR 0.45

“Losses Widen in 1QFY24” 

KPS’s 1QFY24 results disappointed. Its 1QFY24 core net loss widened significantly YoY on sluggish orders amidst soft global demand for consumer electronics products. Not helping either was its inability to find replacement after losing customer T recently. We cut our FY24-25F earnings forecast by 50% and 5%, respectively, but keep our TP of RM0.45. Maintain UNDERPERFORM.

Analyst(s):
 Nigel Ng 
nigel@kenanga.com.my

$KPS / 5843 (KUMPULAN PERANGSANG SELANGOR BERHAD)