Improving outlook from 4Q21F onwards■ 1H21 core net profit of RM100m missed estimates, due to lower salesvolume and temporary suspension of operations during MCO in 2Q21.■ Despite potentially weaker qoq results in 3Q21, we think HEIM should see agradual recovery from 4Q21F onwards as lockdown measures are eased.■ Upgrade to Add from Hold. Our DDM-based […]

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