$BURSA / 1818 (BURSA MALAYSIA BERHAD)
Research by MIDF
Neutral – TP RM9.30

“Strong Momentum"

• Earnings beat our expectation
• Higher securities trading revenue
• Securities market saw a broad-based rebound
• Continued increased costs due to capacity building
• Interim dividend of 18sen per share
• Earnings estimate revised upwards
• Downgrade to NEUTRAL with revised TP of RM9.30

Analyst:
Imran Yassin Yusof
imran.yassin@midf.com.my