Kronologi Asia Berhad posted a RM79.6m revenue in its 2QFY24 results which grew 26.1% yoy and 26.3% qoq. The better yoy revenue performance was mainly boosted by strong growth in the EDM Infrastructure Technology segment, particularly from its China operation.
We maintained BUY call with unchanged target price on RM 0.53. Our target price is pegged at 17x PER (which is -0.5 stdv based on its 3-year mean of PER) on the EPS 3.1 sen of FY25F. Our target price has adjusted (previously RM 0.64) to account for the change of shares base after new issuance of shares (bonus issue). Our target price is rendering a 28% upside from current share price of RM 0.415. We favour the stock for its: Gaining traction in sustainable income; Promising industry outlook driven by digitalized data era from increasing adoption of AI; Robust balance sheet minimize risk amidst downturn economic.
Read more in the attached pdf
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| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 0.520 | 0.000 | 76.51M | |
| 0.100 | -0.005 | 19.85M | |
| 0.370 | 0.005 | 17.86M | |
| 0.065 | 0.000 | 15.29M | |
| 0.040 | 0.000 | 11.04M | |
| 0.185 | 0.000 | 10.35M | |
| 0.825 | 0.045 | 8.99M | |
| 0.175 | 0.000 | 8.96M | |
| 0.045 | -0.005 | 8.46M | |
| 0.550 | 0.015 | 8.00M |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 22.920 | 0.320 | 19.70K | |
| 13.160 | 0.140 | 3.10K | |
| 13.100 | 0.120 | 8.50K | |
| 3.130 | 0.120 | 585.50K | |
| 3.080 | 0.100 | 1.01M | |
| 4.750 | 0.090 | 102.60K | |
| 21.280 | 0.080 | 121.10K | |
| 5.270 | 0.070 | 1.53M | |
| 7.870 | 0.070 | 294.30K | |
| 1.690 | 0.070 | 461.30K |
| Stock | Last (RM) | Change (RM) | Volume |
|---|---|---|---|
| 101.100 | -0.600 | 0.60K | |
| 26.880 | -0.220 | 9.80K | |
| 26.440 | -0.120 | 54.60K | |
| 19.360 | -0.120 | 4.50K | |
| 2.290 | -0.110 | 252.30K | |
| 0.040 | -0.110 | 500.00K | |
| 6.700 | -0.100 | 3.00K | |
| 3.030 | -0.080 | 834.20K | |
| 0.400 | -0.075 | 90.40K | |
| 2.560 | -0.070 | 1.50K |
| Currency | Buy Rates (RM) | Sell Rates (RM) |
|---|---|---|
| USD | 4.226942 | 4.260444 |
| EUR | 4.723982 | 4.728876 |
| CNY | 0.598324 | 0.598990 |
| HKD | 0.542537 | 0.546362 |
| SGD | 3.269503 | 3.292710 |
Last Updated: Thursday, September 19, 2024
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