$HLFG / 1082 (HONG LEONG FINANCIAL GROUP BERHAD)
Research by Maybank
Buy - TP RM22.70

"FY24 results above expectations"

HLFG’s FY24 results were above our expectations due to stronger-than-expected contributions from its investment bank. We upgrade FY25/26E earnings by 6% respectively. We also roll forward our SOTP valuation and raise our TP to MYR22.70 from MYR21.70. BUY maintained.

Analyst:
Desmond Ch'ng, BFP, FCA
desmond.chng@maybank-ib.com