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

Hong Leong Investment Bank Berhad

External broker reports(aggregated public sources)

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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Equity Bottom-Up

<ul><li>We recently met with UMediC’s (UMC) management and came away feeling upbeat on its prospects.</li><li>As we enter into 2H23, we anticipate an increase in the opening of tenders for medical equipment procurement from the public sector in July and August, to ensure timely delivery by Dec-23. Separately, UMC is also on track to launch two of its new products (prefilled nebuliser and sterile water for inhalation) by end-2023.</li><li>We keep our forecasts unchanged, maintain BUY with an unchanged TP of RM1.03; our TP is based on 26.5x P/E multiple tagged to its CY24f EPS of 3.9 sen. </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>

We recently met with UMediC’s (UMC) management and came away feeling upbeat on its prospects.As we enter into 2H23, we anticipate an increase in the opening of tenders for medical equipment procurement from the public sector in July and August, to ensure timely delivery by Dec-23. Separately, UMC is also on track to launch two of its new products (prefilled nebuliser and sterile water for inhalation) by end-2023.We keep our forecasts unchanged, maintain BUY with an unchanged TP of RM1.03; our TP is based on 26.5x P/E multiple tagged to its CY24f EPS of 3.9 sen. 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.

Malaysia

Umedic Group Berhad operates as an integrated healthcare supply chain company. The Company offers resuscitation care, patient monitoring systems, oxygen therapy and suction, life-support equipment, and ultrasound solutions. Umedic Group serves customers in Malaysia.

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Umedic Group (UMC MK)

UMediC Group - Fundamentals Intact

We keep our forecasts unchanged, maintain BUY with an unchanged TP of RM1.03; our TP is based on 26.5x P/E multiple tagged to its CY24f EPS of 3.9...

Hong Leong Investment Bank Berhad

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