$WPRTS / 5246 (WESTPORTS HOLDINGS BERHAD)
Research by Apex
Buy – TP RM5.08

“Supported by the resilience of gateway volumes"

• Westports’s 1HFY24 core net profit at RM408.3m meet our expectations.
• Looking ahead, we expect a low single digit growth, pending tariff hike approval and expansion of Westports 2.
• We maintain our BUY recommendation with unchanged target price of RM5.08 based on the DCF-TP method, assuming a discount rate of 5.9%.

Analyst:
Jayden Tan
kdtan@apexsecurities.com.my