$POHUAT / 7088 (POH HUAT RESOURCES HOLDINGS BERHAD)
Research by TA
Hold – TP of MYR 1.50

“2Q24 Dragged by Vietnam Operations ”

Excluding a foreign exchange gain of RM2.0mn, POHUAT’s 1HFY24 core profit of RM15.6mn came in below expectations, accounting for 34.0% and 38.9% of ours and consensus full-year estimates. The variance was mainly due to lower-than-expected profit contributions from Vietnam's operations.

Analyst(s):
Chan Mun Chun
mcchan@ta.com.my