[%erCJ%] 
Research by Public
Neutral – TP RM1.02

" Inks MOU With Samyou ”

Fiamma Holdings Bhd’s (Fiamma) announced that it has entered into a Memorandum of Understanding (MOU) with Zhuhai Samyou Environmental Technology Co. Ltd (Samyou) to leverage their respective resources and expertise in establishing a sales entity and a manufacturing entity in Malaysia. We are positive on this long-term strategic cooperation opportunity, as it enables Fiamma to expand its portfolio to include Samyou’s “Vino” brand, which could help increase market share and drive sustainable growth. Pending further development from this MOU, we keep our estimates unchanged for now. We maintain our Neutral call on Fiamma with an unchanged sum-of-parts derived target price at RM1.02.
 
Analyst: 
Denny Oh
[%XZWR%]

$KLSE-FIAMMA 
Research by Public
Neutral – TP RM1.02

" Inks MOU With Samyou ”

Fiamma Holdings Bhd’s (Fiamma) announced that it has entered into a Memorandum of Understanding (MOU) with Zhuhai Samyou Environmental Technology Co. Ltd (Samyou) to leverage their respective resources and expertise in establishing a sales entity and a manufacturing entity in Malaysia. We are positive on this long-term strategic cooperation opportunity, as it enables Fiamma to expand its portfolio to include Samyou’s “Vino” brand, which could help increase market share and drive sustainable growth. Pending further development from this MOU, we keep our estimates unchanged for now. We maintain our Neutral call on Fiamma with an unchanged sum-of-parts derived target price at RM1.02.
 
Analyst: 
Denny Oh
research@publicinvestbank.com.my