[%HZOz%]
Research by Kenanga
Underperform - TP RM0.31

"Remains in the Red"

STAR’s 1QFY24 results disappointed mainly due to cost and topline weakness at the print segment that led to sustained losses.
Furthermore, sluggish sales at the property segment did little to help earnings turnaround. We forecast higher losses in FY24F-25F, but maintain our TP of RM0.31 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan 
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$KLSE-STAR
Research by Kenanga
Underperform - TP RM0.31

"Remains in the Red"

STAR’s 1QFY24 results disappointed mainly due to cost and topline weakness at the print segment that led to sustained losses.
Furthermore, sluggish sales at the property segment did little to help earnings turnaround. We forecast higher losses in FY24F-25F, but maintain our TP of RM0.31 and UNDERPERFORM call.

Analyst:
Kylie Chan Sze Zan 
kyliechan@kenanga.com.my