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

Kenanga Investment Bank Bhd

External broker reports(aggregated public sources)

Established for more than 45 years, Kenanga Investment Bank Berhad is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing. 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

Kumpulan Perangsang Selangor / Equity Bottom-Up

<ul><li>KPS’s FY23 results disappointed due to its inability to effectively contain costs.</li><li>Its FY23 core net profit plunged 85% on a doublewhammy of the slowdown in the global consumer electronics sector and rising input cost.</li><li>We believe a recovery is more likely to happen in 2HCY24, at the earliest. We maintain our forecasts, TP of RM0.45 and UNDERPERFORM call.</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.

KPS’s FY23 results disappointed due to its inability to effectively contain costs.Its FY23 core net profit plunged 85% on a doublewhammy of the slowdown in the global consumer electronics sector and rising input cost.We believe a recovery is more likely to happen in 2HCY24, at the earliest. We maintain our forecasts, TP of RM0.45 and UNDERPERFORM call.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.

Kumpulan Perangsang Selangor - Slowdown in Consumer Electronics Weighs

<ul><li>KPS is divesting a 50% stake in bedding product maker Kaiserkorp Corporation Sdn Bhd (Kaiserkorp) for RM265.5m cash, resulting in gains of RM117.4m or 21.8 sen/share.</li><li>Unless KPS reinvests the cash proceeds in businesses with high returns, the exercise will be earnings dilutive.</li><li>We cut our FY24F earnings forecast by 21%, reduce our TP by 12% to RM0.45 (from RM0.51) and maintain our UNDERPERFORM call.</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.

KPS is divesting a 50% stake in bedding product maker Kaiserkorp Corporation Sdn Bhd (Kaiserkorp) for RM265.5m cash, resulting in gains of RM117.4m or 21.8 sen/share.Unless KPS reinvests the cash proceeds in businesses with high returns, the exercise will be earnings dilutive.We cut our FY24F earnings forecast by 21%, reduce our TP by 12% to RM0.45 (from RM0.51) and maintain our UNDERPERFORM call.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.

Kumpulan Perangsang Selangor - Selling 50% in Kaiserkorp for RM265m

<ul><li>KPS’s 9MFY23 results beat our forecast but disappointed the market.</li><li>Its 3QFY23 core net profit jumped 1.6x QoQ on a pick-up in orders from its E&amp;E customers, coupled with lower resin and freight costs.</li><li>KPS’s recovery path will remain bumpy on the back of a soft global economy. </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.

KPS’s 9MFY23 results beat our forecast but disappointed the market.Its 3QFY23 core net profit jumped 1.6x QoQ on a pick-up in orders from its E&amp;E customers, coupled with lower resin and freight costs.KPS’s recovery path will remain bumpy on the back of a soft global economy. 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.

Kumpulan Perangsang Selangor - A Reprieve from Low Resin Cost - 28 Nov 2023

Kumpulan Perangsang Selangor - A Reprieve from Low Resin Cost- 28 Nov 2023

<ul><li>KPS has been awarded, by Air Selangor, a RM162m contract for the supply of various water treatment chemicals.</li><li>The contract will contribute 7% to both KPS’s top line and net profit in FY24.</li><li>We maintain our forecasts as we perceive this contract win as part of the normal course of business. </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.

KPS has been awarded, by Air Selangor, a RM162m contract for the supply of various water treatment chemicals.The contract will contribute 7% to both KPS’s top line and net profit in FY24.We maintain our forecasts as we perceive this contract win as part of the normal course of business. 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.

Kumpulan Perangsang Selangor - Bags RM162m Chemicals Supply Contract

Malaysia

Kumpulan Perangsang Selangor Berhad is an investment holding company involved in hospitality, golf clubs, oil and gas, and telecommunications.

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Kumpulan Perangsang Selangor (KUPS MK)

Kumpulan Perangsang Selangor - Slowdown in Consumer Electronics Weighs

We believe a recovery is more likely to happen in 2HCY24, at the earliest. We maintain our forecasts, TP of RM0.45 and UNDERPERFORM call.

Kenanga Investment Bank Bhd

Kumpulan Perangsang Selangor - Selling 50% in Kaiserkorp for RM265m

KPS is divesting a 50% stake in bedding product maker Kaiserkorp Corporation Sdn Bhd (Kaiserkorp) for RM265.5m cash, resulting in gains of RM117.4m...

Kenanga Investment Bank Bhd

Kumpulan Perangsang Selangor - A Reprieve from Low Resin Cost - 28 Nov 2023

Its 3QFY23 core net profit jumped 1.6x QoQ on a pick-up in orders from its E&E customers, coupled with lower resin and freight costs.

Kenanga Investment Bank Bhd

Kumpulan Perangsang Selangor - A Reprieve from Low Resin Cost- 28 Nov 2023

Its 3QFY23 core net profit jumped 1.6x QoQ on a pick-up in orders from its E&E customers, coupled with lower resin and freight costs.

Kenanga Investment Bank Bhd

Kumpulan Perangsang Selangor - Bags RM162m Chemicals Supply Contract

KPS has been awarded, by Air Selangor, a RM162m contract for the supply of various water treatment chemicals. The contract will contribute 7% to...

Kenanga Investment Bank Bhd

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