External broker reports(aggregated public sources), MIDF Amanah Investment Bank Bhd

MIDF Amanah Investment Bank Bhd

External broker reports(aggregated public sources)

MIDF Group is a financial services provider in three core business areas: investment banking, development finance and asset management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Rhong Khen International / Equity Bottom-Up

Rhong Khen International BHD manufactures and sells wooden furniture and parts. The Company offers polyester boards, decorative wood panels, dining furniture, bedroom sets, and impregnated papers for domestic and export markets. Rhong Khen International serves customers worldwide.

<ul>
<li>1HFY24 Core PATANCI deemed within expectation amid gloomy industry outlook</li>
<li>Lower revenue and Core PATANCI in 2QFY2 on yearly basis amidst extended weaker demand</li>
<li>Prolonged weak export demand dragged down topline </li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


1HFY24 Core PATANCI deemed within expectation amid gloomy industry outlook
Lower revenue and Core PATANCI in 2QFY2 on yearly basis amidst extended weaker demand
Prolonged weak export demand dragged down topline 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Rhong Khen International Berhad  - Continuous Weak Outlook for Furniture Sales in the US

Leong Hup International / Equity Bottom-Up

Leong Hup International Berhad provides poultry services. The Company offers breeding, egg production, broiler, and livestock feeding solutions, as well as manufactures chicken products. Leong Hup International serves customers in Asian.

<ul><li>Highly automated Feedmill Plant yet exposed to global commodity fluctuations with 90% of raw materials imported </li><li>Expect lower feed costs ahead due to declining global corn and soybean meal prices</li><li>Revised earnings forecast for FY23F-25F after factoring in slightly lower revenue in Indonesia</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Highly automated Feedmill Plant yet exposed to global commodity fluctuations with 90% of raw materials imported Expect lower feed costs ahead due to declining global corn and soybean meal pricesRevised earnings forecast for FY23F-25F after factoring in slightly lower revenue in IndonesiaContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Leong Hup International Berhad - Solid Demand and Compelling Valuation

Hup Seng Industries Bhd is an investment holding company. Through its subsidiaries, the Company manufactures, sells, and distributes biscuits, confectioneries, and other foodstuffs.

<ul><li>FY23 core PATANCI beat expectations  Better dividend, yet below expected</li><li>Lower input costs lifted 4QFY23 earnings Stronger bottom line in FY23 mainly boosted by robust sales and lower costs</li><li>Raised FY24-25F earnings forecast and introduced FY26F Maintain BUY with a revised TP of RM0.99 (from RM0.98)</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FY23 core PATANCI beat expectations  Better dividend, yet below expectedLower input costs lifted 4QFY23 earnings Stronger bottom line in FY23 mainly boosted by robust sales and lower costsRaised FY24-25F earnings forecast and introduced FY26F Maintain BUY with a revised TP of RM0.99 (from RM0.98)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hup Seng Industries Berhad - Reduced Input Costs; Improved Margin

KKB Engineering Berhad fabricates steel, provides civil construction, hot dip galvanising and manufactures LPG cylinders and cylindrical steel drums. Through its subsidiaries, the Company manufactures UPVC roofing sheets, pipes, and sub-contracts welding works. KKB Engineering also has operations in manufacturing and trading steel pipes and other related steel products.

<ul><li>Core earnings improved +89.9% to RM26.3m in FY23 on the back of stronger revenue of +21.7% to RM471.0m</li><li>Stronger bottom line lifted by both engineering and manufacturing business segments </li><li>Outstanding order book stands at over RM550m with earnings visibility up to FY25; current active tender book of more than RM290m</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Core earnings improved +89.9% to RM26.3m in FY23 on the back of stronger revenue of +21.7% to RM471.0mStronger bottom line lifted by both engineering and manufacturing business segments Outstanding order book stands at over RM550m with earnings visibility up to FY25; current active tender book of more than RM290mContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

KKB Engineering Berhad - Ending FY23 on A Strong Note

Pintaras Jaya Berhad is an investment holding company which undertakes piling contracts, civil engineering, building construction as well as rents plant and machinery.  The Company, through its subsidiaries, manufactures pre-cast concrete piles, operates in property investment and development, and provides geotechnical and foundation engineering services.

<ul><li>Core net loss of -RM4.0m in 2QFY24; core net loss of -RM3.8m in 6MFY24</li><li>Construction division loss before tax widened to -RM7.3, dragged by RM8.3 LADs, slower activities and competitive rates </li><li>Outstanding order book stands at RM300m, providing earnings visibility for FY24. Tender book at RM3.0b </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Core net loss of -RM4.0m in 2QFY24; core net loss of -RM3.8m in 6MFY24Construction division loss before tax widened to -RM7.3, dragged by RM8.3 LADs, slower activities and competitive rates Outstanding order book stands at RM300m, providing earnings visibility for FY24. Tender book at RM3.0b Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pintaras Jaya Berhad - Slips into the Red Again