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WE remain positive on the long-term outlook for Matrix Concepts Holdings Bhd as the situation in Negeri Sembilan is unlikely to affect business operations and prospects of Malaysian Vision Valley (MVV) City. Besides, new sales prospects and earnings outlook are expected to be better in FY27 following the temporary weakness seen in FY26. Our target price for Matrix Concepts is maintained at RM1.55, based on 30% discount to revalued net asset value. We believe the recent share price decline to 2-year low does not reflect Matrix Concepts’ underlying fundamentals. Combined with an expected dividend yield of 6.0% for FY27, the current valuation provides an attractive entry point for long-term investors. Maintain Buy with an unchanged target price at RM1.55.- MBSB Investment Bank Bhd (June 30, 2026)
(Calls by analysts tracked by Bloomberg: 8 Buy, 1 Hold, 0 Sell; Consensus target price:RM1.60)
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