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Research by Kenanga
MARKET PERFORM– TP RM6.00

" Foray into Property Development in Jakarta"

GENP is venturing into property development in Jakarta, Indonesia, via the the acquisition of 375-acre land in Bogor, a major satellite city of Greater Jakarta, for IDR2,052b (RM593m). This could also signal GENP’s second Premium Outlets in Greater Jakarta. We trim our FY25F earnings forecast by 3% to account for higher finance cost but maintain our TP of RM6.00 and MARKET PERFORM call.

Analyst:
Teh Kian Yeong 
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$KLSE-GENP 
Research by Kenanga
MARKET PERFORM– TP RM6.00

" Foray into Property Development in Jakarta"

GENP is venturing into property development in Jakarta, Indonesia, via the the acquisition of 375-acre land in Bogor, a major satellite city of Greater Jakarta, for IDR2,052b (RM593m). This could also signal GENP’s second Premium Outlets in Greater Jakarta. We trim our FY25F earnings forecast by 3% to account for higher finance cost but maintain our TP of RM6.00 and MARKET PERFORM call.

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

$GENP / 2291 (GENTING PLANTATIONS BERHAD)