$SAMAIDEN / 0223 (SAMAIDEN GROUP BERHAD)
Research by MIDF
Buy - TP RM1.57

"Bright FY24 Finish from Stronger Margins"

• FY24 core earnings grew +52%, exceeding our forecast by 12.7%
• Outstanding order book of RM313.5m
• Strong orderbook expansion prospects driven by CGPP, LSS5 and NEM programs
• Maintain BUY with an unchanged TP of RM1.57

Analyst:
Royce Tan Seng Hooi
royce.tan@midf.com.my