Friday, June 30, 2017

Results Note � HAI -O (BUY, maintain)

Top Calls

Results Note HAI -O (BUY, maintain)

- Ending on a high note

Hai-O
s FY17 core net profit of RM 59.3m came within our and consensus expectations, driven by the multi-level marketing (MLM) segment as membership continues to grow strongly. We believe the MLM segment still has more room to grow and reiterate our BUY call with a higher TP of RM 4.92 as we roll forward our valuation to CY18E.


Other Calls

Economic Update ASEAN Weekly Wrap

- Singapores inflation rose sharply to 1.4% yoy in May



For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

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