SkyWorld Development Berhad
Tue, 27-Feb-2024 08:05 am
by Research Team • Apex Research

Counter

SKYWLD (5315)

Target Price (RM)

0.94

Recommendation

Buy

• 9MFY24 core net profit at RM86.0m came slightly ahead of our

expectations, accounting to 76.2% of our core net profit forecast.

• Unbilled sales stood at RM725.2m (up from RM713.6m in 2QFY24)

implies 0.9x of trailing-12-months revenue will sustain revenue visibility

over the next 12 months.

• Re-iterate our BUY recommendation on SKYWLD with a lower target price

of RM0.94, based discount rate of 25% to our RNAV.

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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.

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.431349 4.466109
EUR 4.725230 4.729698
CNY 0.615997 0.616606
HKD 0.569934 0.573901
SGD 3.315285 3.338615