[%wCYa%] 
Research by RHB
Buy – TP of MYR 6.16

“Twin Growth Engines To Spur Growth; Initiate BUY” 

Initiate coverage with BUY and a TP of MYR6.16, 25% upside with 0.4% FY24F yield. Our TP is pegged to 33x FY25F P/E (at +0.5SD from the 5-year mean) and includes a 2% premium, based on its ESG score of 3.1. We are optimistic about Pentamaster Corp's near-term earnings potential, driven by heightened demand in the factory automation solutions (FAS) segment and the recovery in the semiconductor space in the early upcycle, which should boost its automated test equipment (ATE) unit.

Analyst(s):
Miza Izaimi
[%sZmA%]
Lee Meng Horng
[%bsyw%]

$KLSE-PENTA 
Research by RHB
Buy – TP of MYR 6.16

“Twin Growth Engines To Spur Growth; Initiate BUY” 

Initiate coverage with BUY and a TP of MYR6.16, 25% upside with 0.4% FY24F yield. Our TP is pegged to 33x FY25F P/E (at +0.5SD from the 5-year mean) and includes a 2% premium, based on its ESG score of 3.1. We are optimistic about Pentamaster Corp's near-term earnings potential, driven by heightened demand in the factory automation solutions (FAS) segment and the recovery in the semiconductor space in the early upcycle, which should boost its automated test equipment (ATE) unit.

Analyst(s):
Miza Izaimi
miza.izaimi@rhbgroup.com
Lee Meng Horng
lee.meng.horng@rhbgroup.com

$PENTA / 7160 (PENTAMASTER CORPORATION BERHAD)