[%aruX%]
Research by Kenanga
Outperform - TP RM1.10

"Solid Supply Chain to Perodua"

HIL’s 1HFY24 results met expectations. Its 1HFY24 net profit rose 34% YoY driven largely by strong auto parts sales to Perodua and higher property segment’s profit. Its manufacturing business will be buoyed by the all-new Perodua D66b in early-2025 and new manufacturing plant in 3QFY24. We maintain our forecasts and TP of RM1.10. Upgrade to OUTPERFORM from MARKET PERFORM as value has emerged after the recent correction in its share price.

Analyst:
Wan Mustaqim Bin Wan Ab Aziz 
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$KLSE-HIL
Research by Kenanga
Outperform - TP RM1.10

"Solid Supply Chain to Perodua"

HIL’s 1HFY24 results met expectations. Its 1HFY24 net profit rose 34% YoY driven largely by strong auto parts sales to Perodua and higher property segment’s profit. Its manufacturing business will be buoyed by the all-new Perodua D66b in early-2025 and new manufacturing plant in 3QFY24. We maintain our forecasts and TP of RM1.10. Upgrade to OUTPERFORM from MARKET PERFORM as value has emerged after the recent correction in its share price.

Analyst:
Wan Mustaqim Bin Wan Ab Aziz 
wanmustaqim@kenanga.com.my