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Research by RHB
Buy – TP RM2.45

“Pockets Of Opportunities To Drive Growth; Stay BUY"

Keep BUY with new MYR2.45 TP (from MYR2.15), 25% upside with c.5% FY24F yield. Kerjaya Prospek has consistently secured new jobs in YTD FY24, despite the absence of new contracts from its industrial segment. Therefore, any upcoming job win from the industrial segment will be a rerating catalyst. The last industrial job KPG secured (with Samsung C&T) was for Texas Instruments Electronics Malaysia in Oct 2022. Aside from KPG’s steady PAT margins of c.10%, we continue to favour the stock for its attractive FY25F dividend yield of c.5% (higher than most of its peers).

Analyst:
Adam Bin Mohamed Rahim
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$KLSE-KERJAYA
Research by RHB
Buy – TP RM2.45

“Pockets Of Opportunities To Drive Growth; Stay BUY"

Keep BUY with new MYR2.45 TP (from MYR2.15), 25% upside with c.5% FY24F yield. Kerjaya Prospek has consistently secured new jobs in YTD FY24, despite the absence of new contracts from its industrial segment. Therefore, any upcoming job win from the industrial segment will be a rerating catalyst. The last industrial job KPG secured (with Samsung C&T) was for Texas Instruments Electronics Malaysia in Oct 2022. Aside from KPG’s steady PAT margins of c.10%, we continue to favour the stock for its attractive FY25F dividend yield of c.5% (higher than most of its peers).

Analyst:
Adam Bin Mohamed Rahim
adam.mohamed.rahim@rhbgroup.com

$KERJAYA / 7161 (KERJAYA PROSPEK GROUP BERHAD)