$MFCB / 3069 (MEGA FIRST CORPORATION BERHAD)
Research by Maybank
Hold - TP RM4.80

"Expect a stronger 2H24"

2Q24 results were in line with our/consensus expectations as Don Sahong’s earnings trended up sequentially in line with seasonality. The stock’s risk-reward remains balanced, in our view, with near-term earnings-accretive events priced-in to some extent. Maintain HOLD with an unchanged SOP-based TP of MYR4.80.

Analyst:
Tan Chi Wei, CFA
chiwei.t@maybank-ib.com