Stock Digest - Teo Seng Capital Bhd - 23Aug23- Significantly above our earnings expectations

Although TEOSENG’s outlook has turned brighter amid the improved outlook on chicken eggs prices, we are ceasing coverage on TEOSENG due to reallocation of internal resources. Our last recommendation on TEOSENG was BUY with a fair value of RM1.34, derived by ascribing PER of 8.0x to its FY23f EPS of 16.8 sen. 

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