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Research by Maybank
Ceasing Coverage

"Stock delisted"

GHL Systems was successfully delisted on 6 Aug 2024 after NTT Data Japan Corp had secured 98.82% of GHLS shares at the close of its Mandatory General Offer (MGO). Consequently, we are ceasing research coverage of GHLS. Investors should no longer depend on our financial forecasts when making investment decisions nor infer an adverse opinion from our decision to cease coverage. Our last rating on GHLS was a HOLD, with a TP of MYR1.08. The TP was based on NTT’s offer price.

Analysts:
Anand Pathmakanthan
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Arvind Jayaratnam
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$KLSE-GHLSYS
Research by Maybank
Ceasing Coverage

"Stock delisted"

GHL Systems was successfully delisted on 6 Aug 2024 after NTT Data Japan Corp had secured 98.82% of GHLS shares at the close of its Mandatory General Offer (MGO). Consequently, we are ceasing research coverage of GHLS. Investors should no longer depend on our financial forecasts when making investment decisions nor infer an adverse opinion from our decision to cease coverage. Our last rating on GHLS was a HOLD, with a TP of MYR1.08. The TP was based on NTT’s offer price.

Analysts:
Anand Pathmakanthan
anand.pathmakanthan@maybank-ib.com
Arvind Jayaratnam
arvind.jayaratnam@maybank.com