[%HuOK%]
Research by CGS
Hold - TP RM1.44

"Lifted by property and plantation segments"

■ 9MFY6/24 core net profit of RM59.6m came in within expectations at 72% of our FY24F estimate but missed Bloomberg consensus expectations.
■ Management revised its planned launches for FY24 upward to an estimated GDV of RM1.1bn (from RM520m, previously).
■ Reiterate Hold with an unchanged SOP-based TP of RM1.44. This note marks the transfer of coverage to Lucas Tan.

Analyst:
Lucas TAN
[%hiKA%]
CHONG Tjen-San, CFA
[%XHaN%]

$KLSE-MKH
Research by CGS
Hold - TP RM1.44

"Lifted by property and plantation segments"

■ 9MFY6/24 core net profit of RM59.6m came in within expectations at 72% of our FY24F estimate but missed Bloomberg consensus expectations.
■ Management revised its planned launches for FY24 upward to an estimated GDV of RM1.1bn (from RM520m, previously).
■ Reiterate Hold with an unchanged SOP-based TP of RM1.44. This note marks the transfer of coverage to Lucas Tan.

Analyst:
Lucas TAN
lucas.tan@cgsi.com
CHONG Tjen-San, CFA
tjen-san.chong@cgsi.com