• 1HFY24 core net profit at RM8.5m came in line with our expectations, making up to 50.2% of our core net profit forecast at RM17.0m.
• Earnings growth in coming quarters will be supported by (i) progressive rollout of new products under PeopleTech, (ii) contribution from newly acquired GeekStart, (iv) introduction of AutoTech in 2HFY24 and (v) additions of EXCEL courses under EduTech.
• Re-iterate BUY recommendation with a higher target price of RM0.89, by pegging 21.0x P/E multiple to fully diluted FY25F EPS of 4.2 sen.
Disclaimer
The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.
Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.
Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 0.390 | 0.045 | 72.22M | |
| 2.490 | -0.210 | 60.06M | |
| 4.750 | 0.000 | 44.92M | |
| 0.005 | 0.000 | 44.12M | |
| 3.540 | -0.150 | 38.48M | |
| 0.345 | 0.005 | 37.11M | |
| 0.915 | 0.000 | 36.46M | |
| 1.090 | 0.010 | 29.01M | |
| 0.175 | 0.010 | 24.89M | |
| 1.080 | 0.060 | 24.22M |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 30.600 | 0.200 | 9.70K | |
| 6.600 | 0.160 | 13.81M | |
| 1.960 | 0.110 | 11.42M | |
| 1.080 | 0.105 | 10.50K | |
| 21.100 | 0.100 | 1.30M | |
| 3.040 | 0.080 | 11.39M | |
| 1.400 | 0.080 | 1.00K | |
| 1.840 | 0.080 | 2.75M | |
| 0.105 | 0.080 | 150.00K | |
| 1.080 | 0.060 | 24.22M |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 101.600 | -1.400 | 69.20K | |
| 26.920 | -0.980 | 329.50K | |
| 19.740 | -0.540 | 154.40K | |
| 7.920 | -0.360 | 4.37M | |
| 0.245 | -0.240 | 5.00K | |
| 3.090 | -0.220 | 1.23M | |
| 3.190 | -0.210 | 2.78M | |
| 2.490 | -0.210 | 60.06M | |
| 19.520 | -0.200 | 171.70K | |
| 3.680 | -0.190 | 1.11M |
| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.324289 | 4.356381 |
| EUR | 4.811286 | 4.818234 |
| CNY | 0.611140 | 0.611494 |
| HKD | 0.554703 | 0.558834 |
| SGD | 3.320927 | 3.345892 |
Last Updated: Friday, September 6, 2024
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