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The report by Maybank Investment Bank evaluates Aurelius Technologies (ATECH MK) with an ESG score of 41, slightly below the industry average.
Despite room for improvement in sustainability, ATECH has progressed since its IPO, establishing a Sustainability Management Committee and Working Team.
Recent milestones include a commitment to achieve net-zero emissions by 2050 and supporting the global 30×30 goal. Successful installation of rooftop solar panels and EV charging stations showcase sustainability efforts.
Areas for improvement include enhanced reporting on emissions, waste disposal, and water consumption, along with increasing local sourcing and maintaining women board members. The report remains optimistic about ATECH’s prospects as a beneficiary of supply chain diversification and local investments.
While potential short-term challenges exist, significant growth is expected when mass production intensifies in the second half of 2024. The report maintains a BUY recommendation with an unchanged target price of MYR3.05.
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