$LPI / 8621 (LPI CAPITAL BHD)
Research by MIDF
BUY – TP RM14.52

"2QFY24 Results: More Normalised Investment Returns”

• 6MFY24’s Core NP of RM179m was Within/Within our/street forecasts: 52%/50% of full-year forecasts
• Core themes: (a) GWP growth still steady, (b) Improved combined ratio, (c) Investment income normalisation
• Forecasts unchanged
• Maintain BUY | Unchanged TP of RM14.52 | based on an unchanged FY25F P/BV of 2.42x

Analyst:
Samuel Woo
samuel.woo@midf.com.my