Hock Seng Lee [%MtuF%] 
Research by PublicInvest
Ceasing Coverage

"Ceasing Coverage"

The Group announced overnight that its shares will be suspended from ntrading on May 18 onwards to facilitate its de-listing process. This follows on from the Final Closing Date on 9th May 2022 for the unconditional voluntary take-over offer to acquire the remaining 86,878,445 shares or 15.81% stake not held by Hock Seng Lee Enterprise and other joint ultimate offerors. We are formally ceasing coverage given this development. Our last call is Neutral with a TP of RM1.35. Current forecast should no longer be relied on as basis for recommendation. 

Research Team
T 603 2268 3012
F 603 2268 3014
E research [%TQey%].[%vLnx%]

Hock Seng Lee $KLSE-HSL 
Research by PublicInvest
Ceasing Coverage

"Ceasing Coverage"

The Group announced overnight that its shares will be suspended from ntrading on May 18 onwards to facilitate its de-listing process. This follows on from the Final Closing Date on 9th May 2022 for the unconditional voluntary take-over offer to acquire the remaining 86,878,445 shares or 15.81% stake not held by Hock Seng Lee Enterprise and other joint ultimate offerors. We are formally ceasing coverage given this development. Our last call is Neutral with a TP of RM1.35. Current forecast should no longer be relied on as basis for recommendation. 

Research Team
T 603 2268 3012
F 603 2268 3014
E research @publicinvestbank.com.my