KUALA LUMPUR (May 9): Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Autocount Dotcom Bhd at 56 sen and said Autocount is set to capitalise on the increasing digitalisation trend among small and medium enterprises in Malaysia and Singapore.

In a stock watch note on Tuesday (May 9), HLIB said the group is also expanding into other Asean countries, where the demand for financial management software is on the rise.

“We are projecting ADB’s (Autocount) FY2023-2025 forecasted core net profit to grow at a strong CAGR (compound annual growth rate) of 12.5%.

“We value ADB at 56 sen based on 17.5 times FY2024 forecast EPS (earnings per share) of 3.2 sen,” it said.

HLIB does not have a rating on Autocount as yet.