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Research by Malacca
Cease Coverage 

"Ended FY24 Within Expectations"

Reallocating resources and cease coverage. Despite the stable outlook on REXIT, we terminate our coverage on REXIT due to a reallocation of resource. Our last rating on the stock was a BUY with a target price of RM1.16, pegged to a P/E of 14.0x applied to FY25f EPS of 8.3 sen. We also assume a payout ratio of 70.0% of its distributable income from FY25f, translating to dividend per share of 5.8 sen and a dividend yield of 6.4%.

Analyst:
Loui Low
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$KLSE-REXIT
Research by Malacca
Cease Coverage 

"Ended FY24 Within Expectations"

Reallocating resources and cease coverage. Despite the stable outlook on REXIT, we terminate our coverage on REXIT due to a reallocation of resource. Our last rating on the stock was a BUY with a target price of RM1.16, pegged to a P/E of 14.0x applied to FY25f EPS of 8.3 sen. We also assume a payout ratio of 70.0% of its distributable income from FY25f, translating to dividend per share of 5.8 sen and a dividend yield of 6.4%.

Analyst:
Loui Low
louilow@msec.com.my