[%PeaO%]
Research by Kenanga
Outperform - TP RM6.30

"Twin Thrust Perodua & Jaecoo"

MBMR is optimistic for another record year for Perodua vehicle sales, topping the 330k units sold last year. Its newest brand under its stable, Jaecoo, has received overwhelming responses and will be expected to boost volume and distribution margins in the remaining quarters of FY24. We maintain our forecasts, TP of RM6.30 and OUTPERFORM call. The stock offers attractive dividend yield of about 7%.

Analyst:
Wan Mustaqim Bin Wan Ab Aziz 
[%MBFj%]

$KLSE-MBMR
Research by Kenanga
Outperform - TP RM6.30

"Twin Thrust Perodua & Jaecoo"

MBMR is optimistic for another record year for Perodua vehicle sales, topping the 330k units sold last year. Its newest brand under its stable, Jaecoo, has received overwhelming responses and will be expected to boost volume and distribution margins in the remaining quarters of FY24. We maintain our forecasts, TP of RM6.30 and OUTPERFORM call. The stock offers attractive dividend yield of about 7%.

Analyst:
Wan Mustaqim Bin Wan Ab Aziz 
wanmustaqim@kenanga.com.my