[%wZRk%] 
Research by RHB 
Buy – TP RM1.31

"Solid Start To a Year Of Recovery; Keep BUY”

Maintain BUY and TP of MYR1.31, 24% upside and c.4% FY25F (Mar) yield. SKP Resources’ 1QFY25 results met expectations on the normalisation of Customer X’s orders and steady profit margin driven by cost optimisationinitiatives. Earnings momentum should accelerate sequentially driven by inventory build-up in preparation for the year-end festive demand. We continue to like SKP as a proxy to capitalise on the recovery of global demand for consumer electronics and opportunities arising from the trade war diversion

Analyst:
Soong Wei Siang
[%spaR%]

$KLSE-SKPRES 
Research by RHB 
Buy – TP RM1.31

"Solid Start To a Year Of Recovery; Keep BUY”

Maintain BUY and TP of MYR1.31, 24% upside and c.4% FY25F (Mar) yield. SKP Resources’ 1QFY25 results met expectations on the normalisation of Customer X’s orders and steady profit margin driven by cost optimisationinitiatives. Earnings momentum should accelerate sequentially driven by inventory build-up in preparation for the year-end festive demand. We continue to like SKP as a proxy to capitalise on the recovery of global demand for consumer electronics and opportunities arising from the trade war diversion

Analyst:
Soong Wei Siang
soong.wei.siang@rhbgroup.com