External broker reports(aggregated public sources), Kenanga Investment Bank Bhd

Kenanga Investment Bank Bhd

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.

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>ECOWLD’s 1HFY23 net earnings of RM119.7m (+10%) came within expectations. 7MFY23 sales of RM2.4b seem to be well ahead of its RM3.5b full-year target.</li><li>Despite market headwinds, the group believes it could still thrive with its affordable home offerings, and rising demand for industrial products.</li><li>Maintain OUTPERFORM but raise our TP to RM1.03 (from RM0.83) as we ascribe a lower discount to our RNAV on its well-received projects pipeline.</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>

ECOWLD’s 1HFY23 net earnings of RM119.7m (+10%) came within expectations. 7MFY23 sales of RM2.4b seem to be well ahead of its RM3.5b full-year target.Despite market headwinds, the group believes it could still thrive with its affordable home offerings, and rising demand for industrial products.Maintain OUTPERFORM but raise our TP to RM1.03 (from RM0.83) as we ascribe a lower discount to our RNAV on its well-received projects pipeline.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.

Eco World Development Group - 23 Jun 2023 - Encouraging Sales Traction