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

<ul><li>NOVA’s 1HFY24 results disappointed, we believe, as consumers temporarily held back purchases on weak spending sentiment.</li><li>However, we are still upbeat on its prospects driven by a gradual production ramp-up at its new plant.</li><li>We cut our FY24-25F net profit forecasts by 12% and 14%, respectively, reduce our TP by 12% to RM0.74 (from RM0.84) but reiterate our OUTPERFORM 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.

NOVA’s 1HFY24 results disappointed, we believe, as consumers temporarily held back purchases on weak spending sentiment.However, we are still upbeat on its prospects driven by a gradual production ramp-up at its new plant.We cut our FY24-25F net profit forecasts by 12% and 14%, respectively, reduce our TP by 12% to RM0.74 (from RM0.84) but reiterate our OUTPERFORM 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.

Nova Wellness Group - A Soft Patch, Fundamentals Intact

<ul><li>NOVA’s 1QFY24 results missed our expectation, we believe, as consumers held back purchases after having overstocked right upon the economy reopening.</li><li>However, we are still upbeat on its prospects driven by the gradual production ramp-up at its new plant.</li><li>We cut our FY24-25F net profit by 13-12%, respectively, reduce our TP by 13% to RM0.84 (from RM0.96) but reiterate our OUTPERFORM 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.

NOVA’s 1QFY24 results missed our expectation, we believe, as consumers held back purchases after having overstocked right upon the economy reopening.However, we are still upbeat on its prospects driven by the gradual production ramp-up at its new plant.We cut our FY24-25F net profit by 13-12%, respectively, reduce our TP by 13% to RM0.84 (from RM0.96) but reiterate our OUTPERFORM 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.

Nova Wellness Group - A Soft Patch, Production Ramp-Up Ahead

<ul><li>NOVA’s FY23 results met our forecast. Its FY23 core net profit declined by 10%, we believe, due to limited new products.</li><li>This is likely to change from FY24 onwards driven by the gradual production ramp-up at its new plant, the full-year impact from 35 new SKUs and the absence of lumpy start-up cost.</li><li>We maintain our FY24F net profit forecast, TP of RM0.96 and OUTPERFORM 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.

NOVA’s FY23 results met our forecast. Its FY23 core net profit declined by 10%, we believe, due to limited new products.This is likely to change from FY24 onwards driven by the gradual production ramp-up at its new plant, the full-year impact from 35 new SKUs and the absence of lumpy start-up cost.We maintain our FY24F net profit forecast, TP of RM0.96 and OUTPERFORM 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.

Nova Wellness Group - New SKUs to Boost Sales

Malaysia

Nova MSC Berhad sells and markets application software for the electronic government (e-government) and healthcare industries. The Company, through its subsidiaries, provides domain-specific IT professional services in the e-government and healthcare industries. Nova MSC also provides key software R&D center and owns intellectual property.

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Nova Msc Bhd (NOVM MK)

Nova Wellness Group - A Soft Patch, Fundamentals Intact

We cut our FY24-25F net profit forecasts by 12% and 14%, respectively, reduce our TP by 12% to RM0.74 (from RM0.84) but reiterate our OUTPERFORM call.

Kenanga Investment Bank Bhd

Nova Wellness Group - A Soft Patch, Production Ramp-Up Ahead

NOVA’s 1QFY24 results missed our expectation, we believe, as consumers held back purchases after having overstocked right upon the economy reopening.

Kenanga Investment Bank Bhd

Nova Wellness Group - New SKUs to Boost Sales

NOVA’s FY23 results met our forecast. Its FY23 core net profit declined by 10%, we believe, due to limited new products. This is likely to change...

Kenanga Investment Bank Bhd

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