9MFY6/21 core net profit of RM35.8m (+189% yoy) beat expectations, mainly due to stronger-than-expected sales in 3QFY21 despite movement curbs. Its Starbucks operations revenue should remain resilient, despite the onset of further movement restrictions in light of a resurgence in Covid-19 cases. Reiterate Add with a higher TP of RM2.80 (19x CY22F P/E).
- 1 Weekend Reading/Global Surf the money tsunami or drown? New index shows countries most ready for MMT
- 2 Macro Analysis/Global East African budgets: Policy shift brightens outlook in Kenya, Tanzania & Uganda
- 3 Strategy Note/India India sues Twitter
- 4 Sovereign Analysis/Laos Laos: Moment of reckoning for its eurobond
- 5 Sovereign Analysis/Suriname Suriname: Bondholders trigger termination clause – implications
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...