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Ride on NFO recovery & HRO sales growth

■ Although NFO sales are still slightly softer now vs. our expectation, we believe it is on track for a full recovery in 3QFY22F.
■ BST is engaging with MOF & local authorities on the ban on gaming premise licence renewals in Kedah, where outlets remain open currently.
■ Reiterate Add with marginally lower DCF-based TP of RM2.10.

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