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>GENM has terminated the exclusive arrangement to sell its Miami Herald land to Smart Miami City LLC, potentially opening up the land to other bidders.</li><li>There is no change to our FY23-24F forecast as we did not factor the sale into the forecasts. Operationally, Resorts World Malaysia is still set to be a major beneficiary of consumer spending and returning Chinese tourist even if its 1QFY23 performance was a tad soft.</li><li>Maintain TP of RM3.35 and OUTPERFORM.</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>

GENM has terminated the exclusive arrangement to sell its Miami Herald land to Smart Miami City LLC, potentially opening up the land to other bidders.There is no change to our FY23-24F forecast as we did not factor the sale into the forecasts. Operationally, Resorts World Malaysia is still set to be a major beneficiary of consumer spending and returning Chinese tourist even if its 1QFY23 performance was a tad soft.Maintain TP of RM3.35 and OUTPERFORM.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.

Results Note - Genting Malaysia - 23 Jun 2023

Malaysia

Genting Malaysia Berhad operates a tourist resort in Genting Highlands which includes hotels, restaurants, casinos, and recreational and amusement facilities. Through its subsidiaries, the Company also develops and leases property, operates leisure and hospitality services, and provides time share ownership scheme.