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>HIL’s FY23 results beat expectations. Its FY23 core net profit rose 77% YoY, driven by strong auto parts sales to Perodua and higher property profits.</li><li>We raise our FY24 net profit forecast by 2%, lift our TP by 3% to RM0.94 (from RM0.91) and maintain our MARKET PERFORM call.</li><li>HIL’s FY23 net profit beat our expectation by 15%. The variance against our forecast was from stronger-than-expected property profits. </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.

HIL’s FY23 results beat expectations. Its FY23 core net profit rose 77% YoY, driven by strong auto parts sales to Perodua and higher property profits.We raise our FY24 net profit forecast by 2%, lift our TP by 3% to RM0.94 (from RM0.91) and maintain our MARKET PERFORM call.HIL’s FY23 net profit beat our expectation by 15%. The variance against our forecast was from stronger-than-expected property profits. 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.

<ul><li>HIL’s 9MFY23 results beat expectations on stronger-than-expected sales of auto parts to Perodua.</li><li>To reflect our recent upgrade in Perodua’s vehicle sales in CY23 and CY24, we raise our FY23-24F net profit forecasts for HIL by 16% and 4%, respectively.</li><li>Consequently, we lift our TP by 5% to RM0.91 (from RM0.87) and upgrade our call to MARKET PERFORM from UNDERPERFORM.</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.

HIL’s 9MFY23 results beat expectations on stronger-than-expected sales of auto parts to Perodua.To reflect our recent upgrade in Perodua’s vehicle sales in CY23 and CY24, we raise our FY23-24F net profit forecasts for HIL by 16% and 4%, respectively.Consequently, we lift our TP by 5% to RM0.91 (from RM0.87) and upgrade our call to MARKET PERFORM from UNDERPERFORM.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.

HIL Industries - Riding on Perodua’s Strong Sales

<ul><li>HIL is acquiring three acres of prime land in Kuala Lumpur from related parties for RM47m cash.</li><li>The land has been earmarked for a residential project with an estimated GDV of RM380m-RM400m, which could boost our valuation for its property business (based on a 70% discount to RNAV) by about 22% and its SoP-derive TP by 10%. </li><li>For now, we are keeping our forecasts, our TP of RM0.87 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.

HIL is acquiring three acres of prime land in Kuala Lumpur from related parties for RM47m cash.The land has been earmarked for a residential project with an estimated GDV of RM380m-RM400m, which could boost our valuation for its property business (based on a 70% discount to RNAV) by about 22% and its SoP-derive TP by 10%. For now, we are keeping our forecasts, our TP of RM0.87 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.

Company Update - HIL Industries - 2 November 2023

<ul><li>HIL’s 1HFY23 results met expectations. Its 1HFY23 core net profit rose 30% YoY driven by improved manufacturing and property earnings.</li><li>While its auto part manufacturing business is riding on a booming local auto market, it inherently has little bargaining power with its customers, i.e. large auto makers.</li><li>We maintain forecasts, TP of RM0.78 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.

HIL’s 1HFY23 results met expectations. Its 1HFY23 core net profit rose 30% YoY driven by improved manufacturing and property earnings.While its auto part manufacturing business is riding on a booming local auto market, it inherently has little bargaining power with its customers, i.e. large auto makers.We maintain forecasts, TP of RM0.78 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.

HIL Industries - Beneficiary of Auto Boom, but Fully Valued - 28 Aug 2023

HIL Industries -Beneficiary of Auto Boom, but Fully Valued -  28 Aug 2023

Malaysia

HIL Industries Berhad manufactures and sells industrial and domestic molded plastic products.  The Company, through its subsidiaries, operates in property development, investment, and management. The Company's primary plastic products include components and fittings for the automotive and electronics industries.

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Hil Industries (HIL MK)

HIL Industries - Double Happiness

HIL’s FY23 results beat expectations. Its FY23 core net profit rose 77% YoY, driven by strong auto parts sales to Perodua and higher property profits.

Kenanga Investment Bank Bhd

HIL Industries - Riding on Perodua’s Strong Sales

To reflect our recent upgrade in Perodua’s vehicle sales in CY23 and CY24, we raise our FY23-24F net profit forecasts for HIL by 16% and 4%,...

Kenanga Investment Bank Bhd

Company Update - HIL Industries - 2 November 2023

HIL is acquiring three acres of prime land in Kuala Lumpur from related parties for RM47m cash. The land has been earmarked for a residential...

Kenanga Investment Bank Bhd

HIL Industries - Beneficiary of Auto Boom, but Fully Valued - 28 Aug 2023

HIL’s 1HFY23 results met expectations. Its 1HFY23 core net profit rose 30% YoY driven by improved manufacturing and property earnings.

Kenanga Investment Bank Bhd

HIL Industries -Beneficiary of Auto Boom, but Fully Valued - 28 Aug 2023

HIL’s 1HFY23 results met expectations. Its 1HFY23 core net profit rose 30% YoY driven by improved manufacturing and property earnings.

Kenanga Investment Bank Bhd

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