The Daily Pulse of Bursa Malaysia

A double joy for Redtone investors

zaclim
Publish date: Tue, 12 Mar 2024, 08:12 AM
zaclim
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Those who bought Redtone Digital Bhd shares a year ago would be happy to see their investments doubled. That is if they accumulated the shares at its year low of 50 sen whereby the counter shot up to RM1.11 recently.

As it is, there are expectations that the company will post record-high revenue from managed telco network services (MTNS). This will be largely driven by the unique selling proposition from National Digital Network (JENDELA) Phase 1 (P1), which started in 3Q20.

Since the commencement, Redtone received 46 towers (out of the total 213 towers secured) from a Part 1 contractor up to 1QFY24 (June), with 20 fully deployed for revenue recognition.

Analysts anticipate about 100 towers to be deployed in toal up to FY24. Its current orderbook stands at around RM700 million, which includes a substantial portion of RM500 million to RM600 million from JENDELA P1, half of which is on a 5-year operational and maintenance contract. REDtone's tenderbook remains strong at RM 1 billion, and includes several ICT projects.

Presently, it is managing 300 towers that generate income for the MTNS segment. More excitingly, the company stands to benefit from the JENDELA P2 open tender sometime this year.

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