Hartalega (HART MK)
ESG 2.0: Defending an above
average scoring
ESG score improves, to 64/100; maintain BUY
We revisit HART’s ESG disclosures post release of its FY24 Annual and
Corporate Governance Reports and have assigned an above average ESG
score of 64 (out of 100), which is higher than its previous ESG score of 61
when first introduced in FY22. We maintain our earnings forecasts and
MYR4.28 TP based on an unchanged 3x CY26E P/B peg. Reiterate BUY.