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Research by RHB
Buy – TP RM6.16

“Strength In Factory Automation Solutions; Keep BUY"

Maintain BUY and MYR6.16 TP, 26% upside with 0.4% FY24F yield. Pentamaster’s 1H24 core net profit of MYR40.3m (+20.3% YoY) met expectations – given the anticipation of stronger quarters ahead from continued growth of its factory automation solutions (FAS) segment. We continue to favour Pentamaster due to its expanding presence in the medical devices industry, which offsets the slower-than-expected automotive recovery and mitigates the cyclical nature of the semiconductor market.

Analysts:
Miza Izaimi 
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Lee Meng Horng 
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$KLSE-PENTA
Research by RHB
Buy – TP RM6.16

“Strength In Factory Automation Solutions; Keep BUY"

Maintain BUY and MYR6.16 TP, 26% upside with 0.4% FY24F yield. Pentamaster’s 1H24 core net profit of MYR40.3m (+20.3% YoY) met expectations – given the anticipation of stronger quarters ahead from continued growth of its factory automation solutions (FAS) segment. We continue to favour Pentamaster due to its expanding presence in the medical devices industry, which offsets the slower-than-expected automotive recovery and mitigates the cyclical nature of the semiconductor market.

Analysts:
Miza Izaimi 
miza.izaimi@rhbgroup.com
Lee Meng Horng 
lee.meng.horng@rhbgroup.com

$PENTA / 7160 (PENTAMASTER CORPORATION BERHAD)