External broker reports(aggregated public sources), Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad

Hong Leong Investment Bank Berhad operates as an investment banking company. The Company provides debt and equity funding, private debt securities issuance, merger and acquisitions, initial public offerings, corporate restructuring, and stockbroking services. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>TRC’s 1HFY24 core PATAMI of RM5.5m was within expectations. We had earlier slashed FY24 forecasts by -46%.</li><li>Net cash per share has dwindled down to RM0.55 from RM0.65. Unbilled orderbook is decent at RM1.0bn.</li><li>Ara Sentral Ph 2 launch has been delayed to 2Q26 from 1Q25. We have also adjusted downwards FY24 construction replenishment assumptions to RM1.0bn (from RM1.5bn) due to delays in government infra timelines. </li></ul><p><em>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.</em></p>

TRC’s 1HFY24 core PATAMI of RM5.5m was within expectations. We had earlier slashed FY24 forecasts by -46%.Net cash per share has dwindled down to RM0.55 from RM0.65. Unbilled orderbook is decent at RM1.0bn.Ara Sentral Ph 2 launch has been delayed to 2Q26 from 1Q25. We have also adjusted downwards FY24 construction replenishment assumptions to RM1.0bn (from RM1.5bn) due to delays in government infra timelines. 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.

TRC Synergy Bhd

TRC Synergy - Within Expectations