[%tkEP%]
Research by Kenanga
Underperform - TP RM0.405

"Back to Black But Uneven Recovery"

KPS’s 1HFY24 results met expectations, consistent with our projection for a subdued FY24 due to ongoing weak demand for consumer electronics and a potentially uneven recovery. While 2QFY24 saw KPS returning to the black, we expect a more meaningful recovery in FY25 driven by restocking and new product launches from its customers. Meanwhile, it is actively enhancing its cost control measures. We maintain our forecasts, TP of RM0.45 and UNDERPERFORM call.

Analyst:
Nigel Ng 
[%qIBO%]

$KLSE-KPS
Research by Kenanga
Underperform - TP RM0.405

"Back to Black But Uneven Recovery"

KPS’s 1HFY24 results met expectations, consistent with our projection for a subdued FY24 due to ongoing weak demand for consumer electronics and a potentially uneven recovery. While 2QFY24 saw KPS returning to the black, we expect a more meaningful recovery in FY25 driven by restocking and new product launches from its customers. Meanwhile, it is actively enhancing its cost control measures. We maintain our forecasts, TP of RM0.45 and UNDERPERFORM call.

Analyst:
Nigel Ng 
nigel@kenanga.com.my

$KPS / 5843 (KUMPULAN PERANGSANG SELANGOR BERHAD)