Focus Point’s Store Expansion Plan On Track

Focus Ppoint Holdings (FOCUSP) has set a target of a 20-store expansion in 2024, which will increase its market share and  contribute to topline in tandem with the gradual growth in myopia patients in the  general population.

Malacca Securities (MSSB), in its Technical Focus note today (May 31) said the implementation of the new flexible EPF account and the salary revision in civil  servants should boost demand. The increase in disposable income from these  policies will increase purchasing power which in turn to benefit FOCUSP.

With a stronger outlook in the F&B segment, FOCUSP has resolved the over-manpower issue in its central kitchen and new corporate customer orders is set to contribute  significantly from 2H24. Furthermore, the newly launched HAP&PI frozen yogurt  brand is well-received and new stores will be opened soon.

FOCUSP’s share price could be poised for a flag formation breakout above RM0.83. As the  technical readings are positive, MSSB expects follow-through buying interest to be seen  in the near term, targeting RM0.89-0.91, with a LT target at RM0.93.

Support is set  around RM0.79-0.785, with a cut loss set around RM0.78.

FOCUSP owns and operates eye care centres. The Company also  franchises eye care centres and  provides medical eye care surgery  and services.

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