[%hObF%] 
Research by TA
Sell – TP RM1.20 

"Under Siege by Low-Cost Imports”

Following the earnings revision, we adjusted our target price to RM1.20, based on 11x CY25 earnings. Considering the negative risk-reward profile, we downgraded the stock to Sell. 

Analyst:
Raymond Ng Ing Yeow 
[%PDTf%]

$KLSE-CSCSTEL 
Research by TA
Sell – TP RM1.20 

"Under Siege by Low-Cost Imports”

Following the earnings revision, we adjusted our target price to RM1.20, based on 11x CY25 earnings. Considering the negative risk-reward profile, we downgraded the stock to Sell. 

Analyst:
Raymond Ng Ing Yeow 
raymondng@ta.com.my

$CSCSTEL / 5094 (CSC STEEL HOLDINGS BERHAD)