[%rDaR%]
Research by RHB
Buy – TP RM1.15

“Sector Tailwinds To Prevail; Maintain BUY"

Maintain BUY and MYR1.15 TP, 28% upside and c.3% FY25F (Mar) yield. 1QFY25 missed expectations due to slower business from the contract logistics (CL) segment and unfavourable FX impact. Nonetheless, we expect better quarters ahead, buoyed by a favourable freight forwarding market, volume recovery, and contributions from new warehouses. TASCO’s current valuation is attractive for a leading integrated logistics player with diversified business segments, solid cash flow generation, and growth prospects. This report marks transfer of coverage to Syahril Hanafiah.

Analysts:
Syahril Hanafiah 
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Lee Meng Horng 
[%MoCJ%]

$KLSE-TASCO
Research by RHB
Buy – TP RM1.15

“Sector Tailwinds To Prevail; Maintain BUY"

Maintain BUY and MYR1.15 TP, 28% upside and c.3% FY25F (Mar) yield. 1QFY25 missed expectations due to slower business from the contract logistics (CL) segment and unfavourable FX impact. Nonetheless, we expect better quarters ahead, buoyed by a favourable freight forwarding market, volume recovery, and contributions from new warehouses. TASCO’s current valuation is attractive for a leading integrated logistics player with diversified business segments, solid cash flow generation, and growth prospects. This report marks transfer of coverage to Syahril Hanafiah.

Analysts:
Syahril Hanafiah 
syahril.hanafiah@rhbgroup.com
Lee Meng Horng 
lee.meng.horng@rhbgroup.com