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Research by RHB
Buy – TP RM1.44

“Return To The Black; Still BUY"

Still BUY and MYR1.44 TP, 71% upside. 1H24 results met expectations, showing a strong rebound in the polymer engineering division and gradual improvements across other business units. We believe the worst is over, and anticipate a sustainable turnaround – driven by further volume recovery. The current valuation is appealing in view of Texchem Resources’ well- established and diverse businesses with sturdy balance sheet and strong cash flow generation.

Analysts:
Tai Yu Jie
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Lee Meng Horng 
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$KLSE-TEXCHEM
Research by RHB
Buy – TP RM1.44

“Return To The Black; Still BUY"

Still BUY and MYR1.44 TP, 71% upside. 1H24 results met expectations, showing a strong rebound in the polymer engineering division and gradual improvements across other business units. We believe the worst is over, and anticipate a sustainable turnaround – driven by further volume recovery. The current valuation is appealing in view of Texchem Resources’ well- established and diverse businesses with sturdy balance sheet and strong cash flow generation.

Analysts:
Tai Yu Jie
tai.yu.jie@rhbgroup.com
Lee Meng Horng 
lee.meng.horng@rhbgroup.com

$TEXCHEM / 8702 (TEXCHEM RESOURCES BERHAD)