[%ZYOo%]
Research by RHB
Neutral – TP RM4.35

“In Line In 3QFY24, Expect a Pick-Up Ahead"

Maintain NEUTRAL, new MYR4.35 TP from MYR3.85, 1% upside with 3% FY24F (Jul) yield. Scientex’s 3QFY24 results are broadly in line with expectations. Its double-digit YoY earnings growth was driven by a robust property segment, while its packaging arm has started to show signs of recovery. We think the stock is fairly valued – it is trading at 11.5x P/E, in line with its historical mean.

Analyst:
Syahril Hanafiah
[%FVFj%]

$KLSE-SCIENTX
Research by RHB
Neutral – TP RM4.35

“In Line In 3QFY24, Expect a Pick-Up Ahead"

Maintain NEUTRAL, new MYR4.35 TP from MYR3.85, 1% upside with 3% FY24F (Jul) yield. Scientex’s 3QFY24 results are broadly in line with expectations. Its double-digit YoY earnings growth was driven by a robust property segment, while its packaging arm has started to show signs of recovery. We think the stock is fairly valued – it is trading at 11.5x P/E, in line with its historical mean.

Analyst:
Syahril Hanafiah
syahril.hanafiah@rhbgroup.com