Gas Malaysia Riding Into 2H On Higher Sales Price
Gas Malaysia Riding Into 2H On Higher Sales Price
However, with valuations at current levels deemed fair, Kenanga advises a hold strategy for the stock.Gas Malaysia Bhd is anticipated to report a solid performance for 2QFY24 with an estimated net profit of RM100 million to RM105 million, slightly below 1QFY24's RM102.3 million, as per Kenanga Investment Bank (Kenanga). This expected result reflects the benefit of higher gas sales prices, despite a stable sales volume, which aligns with market expectations.
根據肯南加投資銀行（Kenanga）的數據，預計馬來西亞天然氣有限公司將公佈 2QFY24 的穩健表現，估計淨利潤爲1萬令吉至10500萬令吉，略低於 1QFY24 的10230萬令吉。儘管銷量穩定，符合市場預期，但這一預期結果反映了天然氣銷售價格上漲的好處。
The net profit for the first half of FY24 is projected to be between RM202.3 million and RM207.3 million, contributing 56% to 57% of Kenanga's full-year forecast and 55% to 56% of the consensus estimate.
預計24財年上半年的淨利潤將在20230萬令吉至20730萬令吉之間，佔肯南加全年預測的56％至57％，佔市場普遍估計的55％至56％。
Kenanga maintains its MARKET PERFORM rating on GASMSIA, with a target price of RM3.59, acknowledging the company's strong market position and attractive dividend yield of over 6%. The firm's consistent earnings visibility, supported by long-term customer contracts and substantial free cash flow, continues to underpin its stable investment case.
Kenanga維持其對GASMSIA的Market Perform評級，目標價爲3.59令吉，這承認了該公司強大的市場地位和超過6％的誘人股息收益率。在長期客戶合同和大量自由現金流的支持下，該公司持續的收益可見度繼續支撐其穩定的投資理念。
However, with valuations at current levels deemed fair, Kenanga advises a hold strategy for the stock.
但是，鑑於當前水平的估值被認爲是公平的，Kenanga建議對該股採取持有策略。
GASMSIA's 2QFY24 performance is supported by improved gas selling prices, as the Malaysia Reference Price (MRP) increased by 6% QoQ. Despite historical trends of slightly lower sales volumes in 2Q, the gas sector's general recovery and increased business activities, especially in the glove sector, have stabilised sales. The company's strategic shift to a new plant in Pulau Indah by 2025 is expected to enhance efficiency and reduce costs.
隨着馬來西亞參考價格（MRP）環比上漲了6％，天然氣銷售價格的改善支撐了GASMSIA的 2QFY24 業績。儘管歷史趨勢是第二季度銷量略有下降，但天然氣行業的總體復甦和業務活動的增加，尤其是手套行業的業務活動，穩定了銷售。預計到2025年，該公司的戰略轉向位於Pulau Indah的新工廠，這將提高效率並降低成本。
譯文內容由第三人軟體翻譯。
