MSGB's 3Q21 net profit of MYR40m (+55% YoY, +2x QoQ) was above our expectation but below consensus. MSGB's 9M21 locked-in sales of MYR1.28b are on track to meet its FY21 sales target of MYR1.6b (+45% YoY). Elsewhere, MSGB has acquired 8.1 acres of land in Kepong for MYR95m cash. We raise our earnings forecasts by […]

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