Aurelius Technologies Berhad
Thu, 04-Jan-2024 08:13 am
by Jayden Tan • Apex Research

Counter

ATECH (5302)

Target Price (RM)

3.22

Recommendation

Buy

Summary

  • Atech propose to acquire a vacant industrial land with approximately 270k sqft located in Kulim High-Tech Park.
  • This acquisition indicates management's commitment readiness to accommodate future growth in Plant 5 manufacturing capacity which planned since Jan 2023.
  • We maintain our BUY recommendation with an unchanged target price of RM3.22 by pegging PE multiple of 20x to FY24F EPS of 16.1 sen.
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Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

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