[%JNsY%]
Research by Kenanga
Market Perform – TP RM3.59

“Feeling Heat from CHP Plants, Literally"

We visited and learned first-hand about GASMSIA’s combined heat and power (CHP) plants in Prai last week. Despite their immaterial contributions to group earnings, these CHP plants provide a boost to GASMSIA’s ESG profile given their role in reducing carbon dioxide emission. We maintain our forecasts, TP of RM3.59 and our MARKET PERFORM rating.

Analyst:
Teh Kian Yeong 
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$KLSE-GASMSIA
Research by Kenanga
Market Perform – TP RM3.59

“Feeling Heat from CHP Plants, Literally"

We visited and learned first-hand about GASMSIA’s combined heat and power (CHP) plants in Prai last week. Despite their immaterial contributions to group earnings, these CHP plants provide a boost to GASMSIA’s ESG profile given their role in reducing carbon dioxide emission. We maintain our forecasts, TP of RM3.59 and our MARKET PERFORM rating.

Analyst:
Teh Kian Yeong 
tehky@kenanga.com.my