$TRC / 5054 (TRC SYNERGY BERHAD)
Research by TA
Sell – TP RM0.46

“Bags RM125mn Maintenance Job"

We keep our target price unchanged at RM0.46 based on a target PER of 12x against CY25 earnings. Maintain Sell on the stock.

Analyst:
Raymond Ng Ing Yeow
raymondng@ta.com.my