[%Phse%] 
Research by CGS
Add – TP of MYR 1.35

“Raising EPS and TP on improving orders” 

Our recent conversation with management suggests that order visibility has improved from its key customer since the beginning of the year, with production for several household product SKUs seeing improving utilisation rates, aligning with inventory restocking and gradual demand improvements. In addition, the group has been receiving several business inquiries from new customers to provide backend assembly services related to household products. SKP has onboarded two new customers earlier this year, which are slated to ramp up production by 2QFY3/25F with a targeted combined annual revenue of RM150m.

Analyst(s):
Shafiq KADIR
[%ehoo%]
Dharmini THURAISINGAM
[%pibI%]

$KLSE-SKPRES 
Research by CGS
Add – TP of MYR 1.35

“Raising EPS and TP on improving orders” 

Our recent conversation with management suggests that order visibility has improved from its key customer since the beginning of the year, with production for several household product SKUs seeing improving utilisation rates, aligning with inventory restocking and gradual demand improvements. In addition, the group has been receiving several business inquiries from new customers to provide backend assembly services related to household products. SKP has onboarded two new customers earlier this year, which are slated to ramp up production by 2QFY3/25F with a targeted combined annual revenue of RM150m.

Analyst(s):
Shafiq KADIR
shafiq.abkadir@cgsi.com
Dharmini THURAISINGAM
dharmini@cgsi.com