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Research by Kenanga
Market Perform - TP RM1.95

"Losses Narrowed at New Hospitals"

KPJ expects its earnings momentum to accelerate, underpinned by revenue intensity and rising demand in 2HFY24. Beyond CY24, it will add >1,500 beds (>+30%) over the next five years. It is optimistic for losses from KPJ’s five new hospitals to narrow substantially in CY24, driven by incremental revenues from higher patient throughput, new beds and improving operational efficiency. We maintain our forecasts, TP of RM1.95 and MARKET PERFORM call.

Analyst:
Raymond Choo Ping Khoon 
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$KLSE-KPJ
Research by Kenanga
Market Perform - TP RM1.95

"Losses Narrowed at New Hospitals"

KPJ expects its earnings momentum to accelerate, underpinned by revenue intensity and rising demand in 2HFY24. Beyond CY24, it will add >1,500 beds (>+30%) over the next five years. It is optimistic for losses from KPJ’s five new hospitals to narrow substantially in CY24, driven by incremental revenues from higher patient throughput, new beds and improving operational efficiency. We maintain our forecasts, TP of RM1.95 and MARKET PERFORM call.

Analyst:
Raymond Choo Ping Khoon 
pkchoo@kenanga.com.my