[%oKYE%]
Research by HLIB
HOLD – TP RM3.93

"Raising FY24 guidance”

1H24 core net profit of RM790m (+9% YoY) was in line. Declared second interim DPS of 4 sen. Postpaid sub base grew by catering to all market segments through wide range of pricing and devices plans. Home connectivity recorded solid numbers with connections up by 71k (+10%) YoY and an increase in revenue by 10% YoY to RM244m. FY24 EBITDA guidance was raised to marginal to low single digit growth. Reiterate HOLD on the back of unchanged DCFderived TP of RM3.93. 

Analyst:
Tan J Young
[%zMpm%]

$KLSE-MAXIS
Research by HLIB
HOLD – TP RM3.93

"Raising FY24 guidance”

1H24 core net profit of RM790m (+9% YoY) was in line. Declared second interim DPS of 4 sen. Postpaid sub base grew by catering to all market segments through wide range of pricing and devices plans. Home connectivity recorded solid numbers with connections up by 71k (+10%) YoY and an increase in revenue by 10% YoY to RM244m. FY24 EBITDA guidance was raised to marginal to low single digit growth. Reiterate HOLD on the back of unchanged DCFderived TP of RM3.93. 

Analyst:
Tan J Young
jytan@hlib.hongleong.com.my