[%hQZZ%]
Research by Kenanga
Market Perform – TP RM3.59

“A Strong 2QFY24 Expected"

We expect GASMSIA to post another strong set of quarterly results in 2QFY24 with a net profit of c.RM100m-RM105m (vs. 1QFY24A: RM102.3m) on the back of higher gas selling prices albeit a flattish sales volume. This will be in-line with expectations. We keep our forecasts, TP of RM3.59 and MARKET PERFORM call. The stock is supported by an above average dividend yield of >6%.

Analyst:
Teh Kian Yeong 
[%DTTc%]

$KLSE-GASMSIA
Research by Kenanga
Market Perform – TP RM3.59

“A Strong 2QFY24 Expected"

We expect GASMSIA to post another strong set of quarterly results in 2QFY24 with a net profit of c.RM100m-RM105m (vs. 1QFY24A: RM102.3m) on the back of higher gas selling prices albeit a flattish sales volume. This will be in-line with expectations. We keep our forecasts, TP of RM3.59 and MARKET PERFORM call. The stock is supported by an above average dividend yield of >6%.

Analyst:
Teh Kian Yeong 
tehky@kenanga.com.my