Stock Digest - OM Holdings Ltd - 1Q22 Sales volume affected by shipment delay

We understand that the decline in sales volumes was mainly impacted by the delay in shipments in end-March 2022. As such, a total of 405,269 MT of ores and alloys (-27.0% QoQ) were transacted during the quarter. Given that the production is touted to be within our expectations, we made no changes to our earnings forecast for now. Consequently, we maintained our BUY recommendation on OMH with an unchanged target price of RM3.65.