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>MKH’s FY23 results disappointed on weak property and plantation profits.</li><li>It will continue to focus on transit-oriented development (TOD) while its plantation business will see sustainable earnings from its Kalimantan portfolio.</li><li>We cut our FY24F net profit forecast by 11%, lower our TP by 2% to RM2.11 (from RM2.15) but maintain 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.

MKH’s FY23 results disappointed on weak property and plantation profits.It will continue to focus on transit-oriented development (TOD) while its plantation business will see sustainable earnings from its Kalimantan portfolio.We cut our FY24F net profit forecast by 11%, lower our TP by 2% to RM2.11 (from RM2.15) but maintain 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.

MKH Berhad  - Soft Patch in Property, Plantation Profits

<ul><li>We initiate coverage of MKH with a SoP-derived TP of RM2.15.</li><li>MKH is a prominent property player in Kajang, focusing mainly on affordable houses with strong emphasis on transit-oriented development (TOD) which we believe is highly popular.</li><li>Meanwhile, its plantation segment appears to be a top performer amongst large cap palm oil planters, and it is likely to see a portfolio expansion in the near term. </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.

We initiate coverage of MKH with a SoP-derived TP of RM2.15.MKH is a prominent property player in Kajang, focusing mainly on affordable houses with strong emphasis on transit-oriented development (TOD) which we believe is highly popular.Meanwhile, its plantation segment appears to be a top performer amongst large cap palm oil planters, and it is likely to see a portfolio expansion in the near term. 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.

MKH Berhad - Stronghold in Kajang and Kalimantan

Malaysia

MKH Berhad is a property development company. The Company's current portfolio comprises a range of developments across all property sectors which are mainly located in Kajang, Damansara, Semenyih, Serdang and Melawati. MKH is also involved in oil palm plantation, project management, property investment, construction and furniture manufacturing.

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Mkh Bhd (MKH MK)

MKH Berhad - Soft Patch in Property, Plantation Profits

We cut our FY24F net profit forecast by 11%, lower our TP by 2% to RM2.11 (from RM2.15) but maintain our OUTPERFORM call.

Kenanga Investment Bank Bhd

MKH Berhad - Stronghold in Kajang and Kalimantan

MKH is a prominent property player in Kajang, focusing mainly on affordable houses with strong emphasis on transit-oriented development (TOD) which...

Kenanga Investment Bank Bhd

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