[%BvcS%]
Research by Maybank
Hold - TP RM1.97

"2Q24: Routine results"

2Q24 results met our expectation. Sequential earnings may ease in absence of festive-led sales but this may be partially offset by stronger spending momentum from EPF Account 3 withdrawals. The group’s key focuses will be to expand its 7-Café store network, and roll out new fresh food/RTE items in its stores. We keep our earnings estimates. Maintain HOLD with an unchanged TP of MYR1.97 (28x FY25E PER, -0.5SD to mean).

Analyst:
Jade Tam
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$KLSE-SEM
Research by Maybank
Hold - TP RM1.97

"2Q24: Routine results"

2Q24 results met our expectation. Sequential earnings may ease in absence of festive-led sales but this may be partially offset by stronger spending momentum from EPF Account 3 withdrawals. The group’s key focuses will be to expand its 7-Café store network, and roll out new fresh food/RTE items in its stores. We keep our earnings estimates. Maintain HOLD with an unchanged TP of MYR1.97 (28x FY25E PER, -0.5SD to mean).

Analyst:
Jade Tam
jade.tam@maybank-ib.com

$SEM / 5250 (7-ELEVEN MALAYSIA HOLDINGS BERHAD)