Reported Earnings • May 24
Second quarter 2026 earnings released: RM0.003 loss per share (vs RM0 in 2Q 2025) Second quarter 2026 results: RM0.003 loss per share (further deteriorated from RM0 in 2Q 2025). Revenue: RM51.3m (down 13% from 2Q 2025). Net loss: RM1.86m (loss widened RM1.65m from 2Q 2025). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Announcement • Jan 29
Revenue Group Berhad, Annual General Meeting, Mar 13, 2026 Revenue Group Berhad, Annual General Meeting, Mar 13, 2026, at 08:01 Singapore Standard Time. Location: langkawi room, bukit jalil golf & country resort, jalan jalil perkasa 3, bukit jalil, wilayah persekutuan kuala lumpur, 57000 kuala lumpur, Malaysia Announcement • Mar 07
Datasonic Group Berhad (KLSE:DSONIC) acquired 51% stake in Innov8tif Holdings Sdn Bhd from Revenue Group Berhad (KLSE:REVENUE) for MYR 40 million. Datasonic Group Berhad (KLSE:DSONIC) entered into a conditional sale agreement to acquire 51% stake in Innov8tif Holdings Sdn Bhd from Revenue Group Berhad (KLSE:REVENUE) for MYR 40 million on November 4, 2024. A cash consideration of MYR 2.75 million will be paid by Datasonic Group Berhad. As part of consideration, MYR 40 million is paid towards common equity of Innov8tif Holdings Sdn Bhd. which is subject to the terms as set out in the SSA.
On February 3, 2025, the parties entered into a letter of variation (“Letter of Extension”) to amend the definition of “Conditional Period” in the sale agreement to 5 months from the date of the agreement or such other extended date the parties may mutually agree in writing. As a result, the Conditional Period of the SSA has been extended for an additional 2 months, now ending on April 3, 2025.
The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders, consummation of due diligence investigation and third party approval needed. The expected completion of the transaction is April 1, 2025 to June 30, 2025.
TA Securities Holdings Berhad acted as Financial advisor to Revenue Group Berhad (KLSE:REVENUE).
Datasonic Group Berhad (KLSE:DSONIC) completed the acquisition of 51% stake in Innov8tif Holdings Sdn Bhd from Revenue Group Berhad (KLSE:REVENUE) March 6, 2025. Revenue Group Berhad (KLSE:REVENUE) has received MYR 37.35 million of the Disposal Consideration (excluding the Retained Purchase Consideration of MYR 2.75 million) and accordingly, all conditions precedent of the share sale agreement have been fulfilled. Announcement • Jan 24
Revenue Group Berhad, Annual General Meeting, Feb 28, 2025 Revenue Group Berhad, Annual General Meeting, Feb 28, 2025, at 09:00 Singapore Standard Time. Announcement • Nov 05
Datasonic Group Berhad (KLSE:DSONIC) agreed to acquire 51% stake in Innov8tif Holdings Sdn Bhd from Revenue Group Berhad (KLSE:REVENUE) for MYR 40 million. Datasonic Group Berhad (KLSE:DSONIC) agreed to acquire 51% stake in Innov8tif Holdings Sdn Bhd from Revenue Group Berhad (KLSE:REVENUE) for MYR 40 million on November 4, 2024. A cash consideration of MYR 2.75 million will be paid by Datasonic Group Berhad. As part of consideration, MYR 40 million is paid towards common equity of Innov8tif Holdings Sdn Bhd.
The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders, consummation of due diligence investigation and third party approval needed. The expected completion of the transaction is April 1, 2025 to June 30, 2025. New Risk • Aug 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 58% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Shareholders have been diluted in the past year (9.5% increase in shares outstanding). Market cap is less than US$100m (RM108.9m market cap, or US$24.9m). New Risk • Aug 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 58% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (RM102.7m market cap, or US$23.2m). New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 58% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (RM91.6m market cap, or US$20.7m). Reported Earnings • Feb 05
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: RM0.14 loss per share (down from RM0.012 profit in FY 2022). Revenue: RM425.5m (up 339% from FY 2022). Net loss: RM71.4m (down RM77.1m from profit in FY 2022). Revenue missed analyst estimates by 37%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Jan 31
Revenue Group Berhad, Annual General Meeting, Mar 04, 2024 Revenue Group Berhad, Annual General Meeting, Mar 04, 2024, at 09:00 Singapore Standard Time. Location: B-21-1, Level 21, Tower B, Northpoint Mid Valley City,No. 1, Medan Syed Putra Utara 59200 Kuala Lumpur Kuala Lumpur Malaysia Agenda: To receive the Audited Financial Statements for the financial period ended 30 September 2023 together with the Reports of the Directors and Auditors thereon; to re-elect Ng Chee Keong who is retiring in accordance with Article 101 of the Company's Constitution;to re-appoint ChengCo PLT as the Company's Auditors until the conclusion of the next Annual General Meeting and to authorise the Directors to fix their remuneration; and to consider other matters. New Risk • Oct 19
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (16% increase in shares outstanding). Market cap is less than US$100m (RM116.1m market cap, or US$24.3m). Reported Earnings • Sep 02
Full year 2023 earnings released: RM0.074 loss per share (vs RM0.027 profit in FY 2022) Full year 2023 results: RM0.074 loss per share (down from RM0.027 profit in FY 2022). Revenue: RM51.1m (down 46% from FY 2022). Net loss: RM36.0m (down 389% from profit in FY 2022). Revenue is forecast to grow 26% p.a. on average during the next 2 years, compared to a 9.3% decline forecast for the Diversified Financial industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Announcement • Aug 01
Revenue Group Berhad Announces Resignation of Heng Chiang Pooh as Company Secretary Revenue Group Berhad announced resignation of Heng Chiang Pooh as Company Secretary, effective from 31 July 2023. Reported Earnings • May 26
Third quarter 2023 earnings released: RM0.019 loss per share (vs RM0.01 profit in 3Q 2022) Third quarter 2023 results: RM0.019 loss per share (down from RM0.01 profit in 3Q 2022). Revenue: RM10.1m (down 56% from 3Q 2022). Net loss: RM9.36m (down 301% from profit in 3Q 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, while revenues in the Diversified Financial industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 38% per year, which means it has not declined as severely as earnings. Board Change • Apr 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Kamari Bin Juhari was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Second quarter 2023 earnings released: RM0.03 loss per share (vs RM0.01 profit in 2Q 2022) Second quarter 2023 results: RM0.03 loss per share (down from RM0.01 profit in 2Q 2022). Revenue: RM4.90m (down 82% from 2Q 2022). Net loss: RM14.3m (down 413% from profit in 2Q 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 12% growth forecast for the IT industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 34% per year whereas the company’s share price has fallen by 33% per year. Price Target Changed • Mar 01
Price target decreased by 55% to RM0.37 Down from RM0.82, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of RM0.36. Stock is down 77% over the past year. The company is forecast to post earnings per share of RM0.018 for next year compared to RM0.027 last year. Buying Opportunity • Feb 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 35%. The fair value is estimated to be RM0.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 6.6%. Revenue is forecast to grow by 2.8% in 2 years. Earnings is forecast to grow by 142% in the next 2 years. Board Change • Feb 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Executive Director Francis Leong was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 28
Revenue Group Berhad Announces Removal of Ng Shih Chiow and Ng Shih Fang as Director Revenue Group Berhad announced that Ng Shih Chiow and Ng Shih Fang be and is hereby removed as a Director of the Company with immediate effect, and is proposed to the upcoming Extraordinary General Meeting to be held on 17 February 2023. Announcement • Jan 18
Revenue Group Berhad Announces the Appointment of Mr. Leong Seng Wui as Executive Director Revenue Group Berhad announced the appointment of MR LEONG SENG WUI as Executive Director. Date of change is 17 Jan. 2023. Age is 43. Mr. Leong Seng Wui has been an entrepreneur in ICT industry for over 23 years. He started off in ICT retail sector after he graduated in IT studies from Binary Business School and was one of the pioneers technopreneur in Malaysia starting out on his own. In his own setup, he focused on the telco and mobile retailing industry. A driven individual, he was instrumental in driving his company and awarded the prestigious Golden Bull award (top 100 SME) by Alliance Bank Berhad and Nanyang Siang Pau, the notable PIKOM ICT Retailer of the year award, Dopod Retailer of the year, O2 Retailer of the year, Dopod Top 10 Retailer of Asia Pacific under his leadership. Thereafter, he was approached to join and lead the distribution unit of an ICT distributor of ICT products including notebooks, netbooks, tablets, and mobile/telco products to penetrate channels in Malaysia since 2009. He has successfully led the company to the greater expansion and market share. He was being credited with the fast expansion of the distribution company which resulted in the successful acquisition of the said company by another listed group. After the successful acquisition of the distribution company that he helped to grow, Mr. Leong joined 1 Utopia Berhad Group as Marketing Manager in 2011 to grow the brand as well as to assist with the creative aspect in the event and retail management. Due to his experience in the ICT product market and channel aspect, Mr. Leong also advised and assisted in the ICT products segment of 1 Utopia Berhad Group. Mr. Leong has led other public company that was involved in information technology. He was appointed as the Group Chief Operating Officer to lead the entire operations of 1 Utopia Group and subsequently appointed as Executive Director to lead the company to a further milestone. Announcement • Jan 06
Revenue Group Berhad Appoints Leong Kah Chern as Group Chief Executive Officer Revenue Group Berhad appointed Leong Kah Chern as Group Chief Executive Officer. His age is 51 and nationality is Malaysia. Date of change is 6 January 2023. Mr. Danny Leong Kah Chern joined Accenture Malaysia as a Senior Manager from year 1994 until year 2003. Subsequently, he co-founded Adeptis Solutions Sdn Bhd in year 2003 and acted as the Executive Director. In year 2006, he was appointed as the Group Chief Executive Officer at Cuscapi Berhad. He then joined E-Pay (M) Sdn Bhd as Chief Executive Officer from year 2010 until year 2013. In year 2014, he joined GHL Systems Berhad as a Chief Executive Officer. He was then promoted to Group Head in Strategic Planning in year 2015 and Group Chief Executive Officer in year 2016. In year 2021, he was appointed as the Chief Executive Officer (Designate) of UD Digital Bank application which was spearheaded by a consortium led by Sarawak State Government, Kenanga Investment Berhad and Revenue Group Berhad. Buying Opportunity • Jan 05
Now 28% undervalued after recent price drop Over the last 90 days, the stock is down 49%. The fair value is estimated to be RM0.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has declined by 6.6%. Revenue is forecast to grow by 2.8% in 2 years. Earnings is forecast to grow by 142% in the next 2 years. Announcement • Jan 04
Revenue Group Berhad Appoints Ooi Guan Hoe as Executive Director Revenue Group Berhad appointed Mr. Ooi Guan Hoe as Executive Director. Age is 48. Date of change is January 3, 2023. Mr. Ooi Guan Hoe started his career in Arthur Andersen Malaysia as Audit Assistant in year 1999 which responsible for conducting statutory audit works on public listed companies and matters pertaining to merger and acquisition exercises. Subsequently, he left Arthur Andersen Malaysia in year 2002 and join CIMB Investment Bank Berhad as executive in the corporate finance department. Within CIMB Investment Bank Berhad, he was subsequently promoted to Assistant Manager in year 2004. He was then promoted to Manager in year 2006 and Senior Manager in year 2008. He left the bank in October 2009. From 2010 to December 2021, he was Director and Management Board member of various listed companies in Malaysia and Germany. He was the Chief Financial Officer of MOG Holdings Limited, which is listed on The Stock Exchange of Hong Kong Limited from January 2019 to March 2022. Currently, he also sits on the board of directors of Techbond Group Berhad, TCS Group Holdings Berhad and Swang Chai Chuan Limited. Reported Earnings • Dec 03
First quarter 2023 earnings released: RM0.007 loss per share (vs RM0.008 profit in 1Q 2022) First quarter 2023 results: RM0.007 loss per share (down from RM0.008 profit in 1Q 2022). Revenue: RM20.8m (up 11% from 1Q 2022). Net loss: RM3.33m (down 196% from profit in 1Q 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the IT industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Nov 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 30%. The fair value is estimated to be RM0.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 2.9%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. Major Estimate Revision • Nov 30
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from RM105.6m to RM80.7m. EPS estimate unchanged from RM0.033 per share at last update. IT industry in Malaysia expected to see average net income growth of 15% next year. Consensus price target down from RM1.87 to RM1.26. Share price rose 4.2% to RM0.75 over the past week. Price Target Changed • Nov 16
Price target decreased to RM1.33 Down from RM1.65, the current price target is an average from 3 analysts. New target price is 93% above last closing price of RM0.69. Stock is down 53% over the past year. The company is forecast to post earnings per share of RM0.035 for next year compared to RM0.027 last year. Announcement • Nov 01
Revenue Group Berhad, Annual General Meeting, Dec 06, 2022 Revenue Group Berhad, Annual General Meeting, Dec 06, 2022, at 10:00 Singapore Standard Time. Location: Ballroom I & II, Main Wing, Tropicana Golf & Country Resort, Jalan Kelab Tropicana, 47410 Petaling Jaya,Selangor Selangor Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 30 June 2022 together with the Reports of the Directors and Auditors thereon; to approve the payment of Directors' fees and other benefits of up to an amount of MYR 510,000 to Non- Executive Directors for the period commencing from 6 December 2022 until the conclusion of the next Annual General Meeting of the Company; to re-elect the Directors who are retiring in accordance with Article 101 of the Company's Constitution; To re-elect the Directors who are retiring in accordance with Article 107 of the Company's Constitution; to re-appoint Messrs. UHY as the Company's Auditors until the conclusion of the next Annual General Meeting and to authorize the Directors to fix their remuneration; and to discuss other matters. Buying Opportunity • Sep 01
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be RM1.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 4.0%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 80% in the next 2 years. Reported Earnings • Aug 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: RM0.029 (up from RM0.027 in FY 2021). Revenue: RM97.7m (up 13% from FY 2021). Net income: RM13.4m (up 20% from FY 2021). Profit margin: 14% (in line with FY 2021). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 12%, compared to a 23% growth forecast for the IT industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Announcement • Jun 02
Revenue Group Berhad Announces Appointment of Madam Alwizah Al-Yafii Binti Ahmad Kamal as Independent and Non Executive Director Revenue Group Berhad announced appointment of MADAM ALWIZAH AL-YAFII BINTI AHMAD KAMAL as Independent and Non Executive Director. Date of change is June 1, 2022. Age is 48 years. Qualifications includes Professional Qualification in Fellowship of the Malaysian Institute of Chartered Secretaries and Administrators from Malaysian Institute of Chartered Secretaries and Administrators, Professional Qualification in Licensed Secretary under Companies Commission of Malaysia from Companies Commission of Malaysia, Professional Qualification in Institute of Chartered Secretaries and Administrators from Kensington School of Business, London, England. Professional Qualification in Certificate of Legal Practice from Legal Practice. Degree from Bachelor of Laws (Honours)from University of Bristol, United Kingdom. Madam Alwizah has over 20 years experience in corporate legal and company secretarial work. As the Founder of AKAL Advisors PLT and AKAL Corporate Advisors, Alwizah currently handles more than 300 private limited companies, public companies, financial institutions as well as foundations and advises them on all corporate secretarial matters, incorporation of private and public limited companies in Malaysia, foreign branches and foundations, ensuring compliance with the Companies Act, 2016 including circulars issued by the Companies Commission of Malaysia and HR-related and accounting matters for companies established in Malaysia. In 2021, she has been appointed as Independent Non-Executive Director of Cnergenz Berhad and Infoline Tech Group Berhad. She is also a director of ETC Technology Malaysia Sdn Bhd, a service provider for aviation services. Madam Alwizah's extensive experience includes advising clients on pre-incorporation and post incorporation corporate exercises including company restructuring, declaration of dividends, application for Ministers approval, conversion of private companies to public companies, alteration of Constitution, removal of directors, transfer and transmission of shares, allotment of shares in cash or other than cash and deregistration of companies pursuant to Section 550 of the Companies Act 2016. Prior to this, Madam Alwizah was a practicing lawyer for 7 years representing a number of international and local financial institutions in restructuring exercises involving public listed companies. She also advised on compliance with Bursa Malaysia Listing Requirements, Securities Commission Act and Guidelines as well as on various debt capital market related matters, one of which was the first Asia whole business securitisation transaction which won the International Financial Law Review Asian Legal Deal of the Year Award. Reported Earnings • May 24
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: RM0.01 (up from RM0.009 in 3Q 2021). Revenue: RM22.8m (down 21% from 3Q 2021). Net income: RM4.66m (up 25% from 3Q 2021). Profit margin: 20% (up from 13% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 33%, compared to a 131% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to RM1.01, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 19x in the IT industry in Malaysia. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.06 per share. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 17% share price decline to RM1.30, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 18x in the IT industry in Malaysia. Total returns to shareholders of 82% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.03 per share. Reported Earnings • Feb 27
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: RM0.01 (vs RM0.01 in 2Q 2021). Revenue: RM27.4m (up 32% from 2Q 2021). Net income: RM4.56m (up 13% from 2Q 2021). Profit margin: 17% (down from 19% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 22%, compared to a 140% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improved over the past week After last week's 15% share price gain to RM1.64, the stock trades at a forward P/E ratio of 52x. Average forward P/E is 20x in the IT industry in Malaysia. Total returns to shareholders of 140% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.04 per share. Reported Earnings • Nov 23
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: RM0.008 (up from RM0.005 in 1Q 2021). Revenue: RM18.8m (down 3.7% from 1Q 2021). Net income: RM3.46m (up 64% from 1Q 2021). Profit margin: 18% (up from 11% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) exceeded analyst estimates by 10%. Earnings per share (EPS) surpassed analyst estimates by 10%. Over the next year, revenue is forecast to grow 27%, compared to a 37% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 18
Full year 2021 earnings released: EPS RM0.027 (vs RM0.025 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: RM87.0m (up 12% from FY 2020). Net income: RM11.1m (up 45% from FY 2020). Profit margin: 13% (up from 10.0% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jun 16
Price target increased to RM2.13 Up from RM1.84, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of RM2.07. Stock is up 74% over the past year. Reported Earnings • Jun 02
Third quarter 2021 earnings released: EPS RM0.009 (vs RM0.002 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM29.1m (up 87% from 3Q 2020). Net income: RM3.71m (up 472% from 3Q 2020). Profit margin: 13% (up from 4.2% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Feb 20
Second quarter 2021 earnings released: EPS RM0.01 (vs RM0.014 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: RM20.8m (down 8.6% from 2Q 2020). Net income: RM4.04m (up 17% from 2Q 2020). Profit margin: 19% (up from 15% in 2Q 2020). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Feb 06
New 90-day high: RM1.59 The company is up 33% from its price of RM1.20 on 06 November 2020. The Malaysian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 18% over the same period. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improved over the past week After last week's 23% share price gain to RM1.59, the stock is trading at a trailing P/E ratio of 73.3x, up from the previous P/E ratio of 59.4x. This compares to an average P/E of 19x in the IT industry in Malaysia. Total returns to shareholders over the past year are 15%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 18% share price gain to RM1.47, the stock is trading at a trailing P/E ratio of 67.7x, up from the previous P/E ratio of 57.6x. This compares to an average P/E of 15x in the IT industry in Malaysia. Total returns to shareholders over the past year are 8.1%. Is New 90 Day High Low • Jan 06
New 90-day high: RM1.47 The company is up 21% from its price of RM1.21 on 08 October 2020. The Malaysian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 25% over the same period. Reported Earnings • Nov 27
First quarter 2021 earnings released: EPS RM0.005 The company reported a soft first quarter result with weaker earnings and profit margins, although revenues were improved. First quarter 2021 results: Revenue: RM19.6m (up 17% from 1Q 2020). Net income: RM2.11m (down 29% from 1Q 2020). Profit margin: 11% (down from 18% in 1Q 2020). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Nov 09
Market bids up stock over the past week After last week's 18% share price gain to RM1.23, the stock is trading at a trailing P/E ratio of 51.5x, up from the previous P/E ratio of 43.6x. This compares to an average P/E of 19x in the IT industry in Malaysia. Total returns to shareholders over the past year are 21%. Is New 90 Day High Low • Oct 21
New 90-day low: RM1.16 The company is down 14% from its price of RM1.35 on 23 July 2020. The Malaysian market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 3.0% over the same period. Is New 90 Day High Low • Oct 02
New 90-day low: RM1.17 The company is down 4.0% from its price of RM1.22 on 03 July 2020. The Malaysian market is flat over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 8.0% over the same period. 