[%TzSF%]
Research by Kenanga
Market Perform – TP RM3.70

“2QFY24 Earnings Almost Double QoQ"

UNISEM's 1HFY24 results met expectations. The green shoots of recovery could be seen in almost a doubling in Its 2QFY24 net profit sequentially, driven by an improved showing from its plant in Chengdu while the earnings decline at its plant in Ipoh has already bottomed out. We keep our forecasts, TP of RM3.70 and MARKET PERFORM call.

Analyst:
Samuel Tan 
[%HtQz%]

$KLSE-UNISEM
Research by Kenanga
Market Perform – TP RM3.70

“2QFY24 Earnings Almost Double QoQ"

UNISEM's 1HFY24 results met expectations. The green shoots of recovery could be seen in almost a doubling in Its 2QFY24 net profit sequentially, driven by an improved showing from its plant in Chengdu while the earnings decline at its plant in Ipoh has already bottomed out. We keep our forecasts, TP of RM3.70 and MARKET PERFORM call.

Analyst:
Samuel Tan 
samueltan@kenanga.com.my