[%lRoc%] 
Research by Kenanga
OUTPERFORM – TP RM6.75

" Capitalising on China+1 Trend”

PIE is poised for a stronger 2QFY24 as IC supply shortage from Customer A would have eased, while its production output ramps up using additional floor space from Plant 5. Meanwhile, its new server customer is on track for pilot production in 4QFY24. It is also engaging a potential customer that could result in contracts with attractive margins. We maintain our forecasts, TP of RM6.75 andOUTPERFORM call. 

Analyst:
Samuel Tan 
[%sGtG%]

$KLSE-PIE 
Research by Kenanga
OUTPERFORM – TP RM6.75

" Capitalising on China+1 Trend”

PIE is poised for a stronger 2QFY24 as IC supply shortage from Customer A would have eased, while its production output ramps up using additional floor space from Plant 5. Meanwhile, its new server customer is on track for pilot production in 4QFY24. It is also engaging a potential customer that could result in contracts with attractive margins. We maintain our forecasts, TP of RM6.75 andOUTPERFORM call. 

Analyst:
Samuel Tan 
samueltan@kenanga.com.my