[%EsyW%]
Research by MIDF
NEUTRAL – TP RM2.56

"Earnings Volatility to Persist”

• Maintain NEUTRAL with an unchanged SOP-derived target price of RM2.56 post the 2QFY24 results announcement
• Better performance from the major opcos lifted 1HFY24 normalised earnings to RM330.0m (+340.0%yoy), in-line with expectation
• Some opcos may potentially suffered from earnings pressure in 2HFY24
• First interim dividend of 5sen, on track to meet full year target of 10sen per share

Analyst:
Foo Chuan Loong, Martin
[%rlDQ%]

$KLSE-AXIATA
Research by MIDF
NEUTRAL – TP RM2.56

"Earnings Volatility to Persist”

• Maintain NEUTRAL with an unchanged SOP-derived target price of RM2.56 post the 2QFY24 results announcement
• Better performance from the major opcos lifted 1HFY24 normalised earnings to RM330.0m (+340.0%yoy), in-line with expectation
• Some opcos may potentially suffered from earnings pressure in 2HFY24
• First interim dividend of 5sen, on track to meet full year target of 10sen per share

Analyst:
Foo Chuan Loong, Martin
martin.foo@midf.com.my