$ALLIANZ / 1163 (ALLIANZ MALAYSIA BERHAD)
Research by Maybank
BUY – TP RM 20.22

" 2Q24 results within expectations”

Allianz’s 2Q24 results were within expectations and our forecasts are maintained, as is our SOTP valuation of MYR24.85. Both Allianz General and Allianz Life continue to see strong topline growth and market share gains. With the recent correction in share price, we upgrade the stock to BUY.

Analyst:
Desmond Ch'ng, BFP, FCA
desmond.chng@maybank-ib.com