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MYEG’s 9MFY21 core net profit was ahead of / in-line with our/consensus estimates, at 84%/72% of FY21E forecast, respectively. On the back of its expeditious development of an innovative product line-up and strong financials, we maintain our BUY call and unchanged TP of MYR1.34 based on 28x FY22E P/E target, which is +0.5x standard deviations above its 5Y mean.

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