$GASMSIA / 5209 (GAS MALAYSIA BERHAD)
Research by MIDF
Buy - TP RM3.96

"Strong Sectoral Demand Supports 1HFY24 Earnings"

• 1HFY24 revenue down -14%yoy; earnings up +11%yoy and came within expectation
• Lower revenue from lower ASP, higher earnings from higher volume, tolling fee
• Demand growth from industrials, plantation and consumer sectors expected in near term
• Maintain BUY with target price of RM3.96

Analyst:
MIDF Research
research@midf.com.my