[%rnuv%]
Research by RHB
BUY– TP RM25.40

" Strong QoQ Earnings Growth; Keep BUY”

Kuala Lumpur Kepong’s 9MFY24 earnings came in within our, but below consensus estimates. We expect earnings to improve further in 4QFY24F, as output should peak, while costs moderate. Valuation remains attractive, at 20.8x 2025F P/E vs its big-cap peer range of 18-35x. 

Analyst:
Hoe Lee Leng
[%QoEW%]

$KLSE-KLK
Research by RHB
BUY– TP RM25.40

" Strong QoQ Earnings Growth; Keep BUY”

Kuala Lumpur Kepong’s 9MFY24 earnings came in within our, but below consensus estimates. We expect earnings to improve further in 4QFY24F, as output should peak, while costs moderate. Valuation remains attractive, at 20.8x 2025F P/E vs its big-cap peer range of 18-35x. 

Analyst:
Hoe Lee Leng
hoe.lee.leng@rhbgroup.com