[%ukcE%]
Research by CGS
ADD – TP RM3.55

"Rerating leading up to KL-SG HSR decision”

■ 4QFY6/24 results above expectations, but dividends were lower
■ Beefing up external orderbook and bidding for more private and government infra projects; stock may rerate leading up to a decision on the KL-SG HSR
■ Value has emerged; upgrade from Hold to Add but with a lower TP of RM3.55 

Analyst:
CHONG Tjen-San, CFA
[%ZqKP%]

$KLSE-YTL
Research by CGS
ADD – TP RM3.55

"Rerating leading up to KL-SG HSR decision”

■ 4QFY6/24 results above expectations, but dividends were lower
■ Beefing up external orderbook and bidding for more private and government infra projects; stock may rerate leading up to a decision on the KL-SG HSR
■ Value has emerged; upgrade from Hold to Add but with a lower TP of RM3.55 

Analyst:
CHONG Tjen-San, CFA
tjen-san.chong@cgsi.com