[%DmhG%] 
Research by Kenanga
OUTPERFORM – TP RM4.16

" Positioned for Semiconductor Upsurge”

KGB's outlook remains promising, supported by a robust order book primarily consisting of high-margin UHP projects. Its LCO2 plants are operating at 58% capacity, with utilization expected to increase due to strong regional demand. We have adjusted our FY24-25 net profit forecasts upward by 4%/2% and raised our target price to RM4.16, maintaining our OUTPERFORM call. 

Analyst:  
Cheow Ming Liang
[%DHRr%]

$KLSE-KGB 
Research by Kenanga
OUTPERFORM – TP RM4.16

" Positioned for Semiconductor Upsurge”

KGB's outlook remains promising, supported by a robust order book primarily consisting of high-margin UHP projects. Its LCO2 plants are operating at 58% capacity, with utilization expected to increase due to strong regional demand. We have adjusted our FY24-25 net profit forecasts upward by 4%/2% and raised our target price to RM4.16, maintaining our OUTPERFORM call. 

Analyst:  
Cheow Ming Liang
cheowml@kenanga.com.my