[%gKds%] 
Research by TA
Sell - TP RM0.44

"Higher Progress Billings from the Star Business Hub"

Corresponding to our earnings upgrade and incorporating an ESG Premium of 3%, our TP for Star is revised upward to RM0.44 (previously RM0.36) based on a P/BV of 0.45x CY25F BV. However, we maintain our Sell recommendation on the stock due to its unfavourable risk reward potential.

Analyst:
Lee Yun Leon 
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$KLSE-STAR 
Research by TA
Sell - TP RM0.44

"Higher Progress Billings from the Star Business Hub"

Corresponding to our earnings upgrade and incorporating an ESG Premium of 3%, our TP for Star is revised upward to RM0.44 (previously RM0.36) based on a P/BV of 0.45x CY25F BV. However, we maintain our Sell recommendation on the stock due to its unfavourable risk reward potential.

Analyst:
Lee Yun Leon 
yllee@ta.com.my