[%yYhT%] 
Research by RHB
Buy – TP of MYR 2.15

“Expanding Presence In MVV Further; BUY” 

Maintain BUY, with new MYR2.15 TP from MYR2.02, 19% upside and c.6% FY25F (Mar) yield. We are upbeat with Matrix Concepts’ new land acquisition. Upon the completion of this transaction, it will have a total of 2,382 acres in Malaysia Vision Valley 2.0 (MVV 2.0), with a potential GDV of MYR12bn. Management has also indicated that about 1,000 acres will be allocated for industrial development, which suits the current market trend given the robust demand from local and foreign manufacturers, logistics as well as data centre players.

Analyst(s):
Loong Kok Wen CFA
[%tSAp%]

$KLSE-MATRIX 
Research by RHB
Buy – TP of MYR 2.15

“Expanding Presence In MVV Further; BUY” 

Maintain BUY, with new MYR2.15 TP from MYR2.02, 19% upside and c.6% FY25F (Mar) yield. We are upbeat with Matrix Concepts’ new land acquisition. Upon the completion of this transaction, it will have a total of 2,382 acres in Malaysia Vision Valley 2.0 (MVV 2.0), with a potential GDV of MYR12bn. Management has also indicated that about 1,000 acres will be allocated for industrial development, which suits the current market trend given the robust demand from local and foreign manufacturers, logistics as well as data centre players.

Analyst(s):
Loong Kok Wen CFA
loong.kok.wen@rhbgroup.com

$MATRIX / 5236 (MATRIX CONCEPTS HOLDINGS BERHAD)