KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research has downgraded Kobay Technology Bhd
to “hold” with a lower target price of RM2.38 from RM4 previously.
The research house said Kobay’s 9MFY23 core net profit of RM29mil was a disappointment due to under delivery by the manufacturing division, which was also impacted by two new projects that are in incubation stage.
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