[%GDtp%]
Research by RHB
Neutral– TP RM 5.30

"Solid Dividend Yielder”

Maintain NEUTRAL, new MYR5.30 TP from MYR4.70, 7% downside. 1H24 earnings met our and but missed Street estimates. We believe Perodua sales will continue to drive MBM Resources’ future earnings. Despite anticipating a softer FY25 earnings outlook, we recommend investors hold their positions in MBM for its attractive c.7% FY25F yield. 

Analyst:
Syahril Hanafiah
[%SaBO%]

$KLSE-MBMR
Research by RHB
Neutral– TP RM 5.30

"Solid Dividend Yielder”

Maintain NEUTRAL, new MYR5.30 TP from MYR4.70, 7% downside. 1H24 earnings met our and but missed Street estimates. We believe Perodua sales will continue to drive MBM Resources’ future earnings. Despite anticipating a softer FY25 earnings outlook, we recommend investors hold their positions in MBM for its attractive c.7% FY25F yield. 

Analyst:
Syahril Hanafiah
syahril.hanafiah@rhbgroup.com