[%WAZY%]
Research by RHB
Buy – TP RM11.25

“A Resoundingly Solid Performance"

Keep BUY and MYR11.25 TP, 15% upside with c.4% FY24F yield. Bursa Malaysia’s 1H24 net profit of MYR155.5m is in line with our and consensus full-year projections. At half time, the group’s financial performance has comprehensively beaten its initial PBT target, which we suspect was due to a stronger-than-expected securities market performance. As such, management has revised its PBT target upwards, although it is still fairly conservative, in our view.

Analysts:
Nabil Thoo
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David Chong, CFA
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$KLSE-BURSA
Research by RHB
Buy – TP RM11.25

“A Resoundingly Solid Performance"

Keep BUY and MYR11.25 TP, 15% upside with c.4% FY24F yield. Bursa Malaysia’s 1H24 net profit of MYR155.5m is in line with our and consensus full-year projections. At half time, the group’s financial performance has comprehensively beaten its initial PBT target, which we suspect was due to a stronger-than-expected securities market performance. As such, management has revised its PBT target upwards, although it is still fairly conservative, in our view.

Analysts:
Nabil Thoo
nabil.thoo@rhbgroup.com
David Chong, CFA
david.chongvc@rhbgroup.com