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>BIPORT’s FY23 results met expectations. Its 4QFY23 core net profit jumped 19% QoQ on a pick-up in cargo volumes, which could be signs of green shoots of recovery.</li><li>We continue to like BIPORT for its stable income stream from handling LNG cargoes. We maintain our forecasts, TP of RM5.55 and MARKET PERFORM call.</li><li>BIPORT’s FY23 core net profit (excluding one-offs at RM7.8m) met expectations.</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.

BIPORT’s FY23 results met expectations. Its 4QFY23 core net profit jumped 19% QoQ on a pick-up in cargo volumes, which could be signs of green shoots of recovery.We continue to like BIPORT for its stable income stream from handling LNG cargoes. We maintain our forecasts, TP of RM5.55 and MARKET PERFORM call.BIPORT’s FY23 core net profit (excluding one-offs at RM7.8m) met expectations.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.

Bintulu Port Holdings - Green Shoots of Recovery - 1 Mar 2024

<ul><li>BIPORT’s 9MFY23 results met expectations. Its 3QFY23 core net profit jumped 37% QoQ on a pick-up in cargo volumes.</li><li>The slowdown in China will have a direct bearing on both its LNG and non-LNG cargo throughput.</li><li>We maintain our forecasts, TP of RM5.55 but downgrade our call to MARKET PERFORM from OUTPERFORM as the upside to its share price has been exhausted.</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.

BIPORT’s 9MFY23 results met expectations. Its 3QFY23 core net profit jumped 37% QoQ on a pick-up in cargo volumes.The slowdown in China will have a direct bearing on both its LNG and non-LNG cargo throughput.We maintain our forecasts, TP of RM5.55 but downgrade our call to MARKET PERFORM from OUTPERFORM as the upside to its share price has been exhausted.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.

Bintulu Port Holdings - Sign of Recovery, but Priced In - 27 November 2023

<ul><li>BIPORT’s 1HFY23 results met expectations. Its 1HFY23 net profit eased 27% YoY on weak cargo volumes as China’s reopening failed to significantly lift the demand for LNG, aluminium and manganese.</li><li>On a brighter note, LNG exports to Japan and South Korea have remained brisk and will pick up further in 2H ahead of the winter months.</li><li>We maintain forecasts, TP of RM5.55 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.

BIPORT’s 1HFY23 results met expectations. Its 1HFY23 net profit eased 27% YoY on weak cargo volumes as China’s reopening failed to significantly lift the demand for LNG, aluminium and manganese.On a brighter note, LNG exports to Japan and South Korea have remained brisk and will pick up further in 2H ahead of the winter months.We maintain forecasts, TP of RM5.55 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.

Bintulu Port Holdings - LNG Shipments Bedrock of Earnings - 28 Aug 2023

Malaysia

Bintulu Port Holdings Berhad operates as a holding company. The Company, through its subsidiaries, provides port services. Bintulu Port Holdings serves customers in Malaysia.

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Bintulu Port Holdings (BPH MK)

Bintulu Port Holdings - Green Shoots of Recovery - 1 Mar 2024

BIPORT’s FY23 results met expectations. Its 4QFY23 core net profit jumped 19% QoQ on a pick-up in cargo volumes, which could be signs of green...

Kenanga Investment Bank Bhd

Bintulu Port Holdings - Sign of Recovery, but Priced In - 27 November 2023

We maintain our forecasts, TP of RM5.55 but downgrade our call to MARKET PERFORM from OUTPERFORM as the upside to its share price has been exhausted.

Kenanga Investment Bank Bhd

Bintulu Port Holdings - LNG Shipments Bedrock of Earnings - 28 Aug 2023

On a brighter note, LNG exports to Japan and South Korea have remained brisk and will pick up further in 2H ahead of the winter months.

Kenanga Investment Bank Bhd

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