Sunday 19 May 2024
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KUALA LUMPUR (Sept 21): Hong Leong Investment Bank (HLIB) Research has maintained its “buy” rating on Focus Point Holdings Bhd at 76 sen with an unchanged target price of RM1.15 and said it remains upbeat on Focus Point's optical segment and reckon that the momentum will continue with store expansion and on-boarding of new corporate clients.

In a note on Thursday, the research house said that encouragingly, corporate sales chartered a 56% year-on-year (y-o-y) growth on the back of active on-boarding of new customers.

It said the group also continues to drive stronger marketing and promotional activities to push retail sales.

“As for F&B (food and beverage), we are confident that the sales momentum will continue with the increase in orders from new corporate clients.

“Apart from supplying white-labelled products, the diversification includes supplying Komugi’s own frozen products at selected stores.

“We expect pockets of opportunities with the reopening of China borders that could spur tourist momentum,” it said.

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