Infomina's chart is very interesting. The price on its daily chart is climbing up the slope at support but its price on its weekly chart seems to be pending a breakout. Hopefully it will be a positive breakout.
Infomina bags contract worth US$3.3 mil from Bank Maybank Indonesia. Yee Chee Meng, managing director of Infomina in a press statement said the contract adds to the company's outstanding orderbook which has increased to over RM500 million. http://www.theedgemarkets.com/node/655381#.Y-zU8mITFXk.telegram
Securing a place in the heart of the tiger ■ Infomina announced today that it has secured a US$3.3m (RM14.4m) contract from Maybank Indonesia for services under its renewal segment. ■ We estimate that Infomina currently has an orderbook of RM400m across FY23-25F and a tenderbook of above RM550m. ■ Infomina remains a key proxy to ride on rising demand for mainframe and IT transformation services in Asia. Reiterate Add.
Wins a RM14.4m contract from Maybank Indonesia ● In a Bursa announcement today, Infomina announced that it has obtained a letter of confirmation to provide a contract worth US$3.3m (RM14.4m) from Maybank Indonesia. This is to provide technology applications and infrastructure operations, maintenance and support services over a five-year tenure (from 30 Nov 2022 to 27 Nov 2027).
Positive on this contract win; opens doors of opportunities ● We view this contract positively, as this is Infomina’s maiden contract in Indonesia. We believe that this is the testament to Infomina’s ability in the mainframe and IT transformation space and a strong demonstration of the close working ties of Infomina and Broadcom, especially in its partner regions (Malaysia, Singapore, Thailand, Indonesia, the Philippines, China, Hong Kong and Taiwan). ● In our view, this is also another feather in Infomina’s cap (in terms of reputable clientele), given the profile of Maybank as a leading banking group in Southeast Asia. We also believe that it would further strengthen opportunities for Infomina to obtain more contracts from Maybank, which has operations across various countries.
Expecting more contract wins to add to its RM400m orderbook ● In terms of earnings contribution, this RM14.4m first new contract has already been accounted for in our forecast of RM275m contract wins in FY23-25F. We estimate that Infomina’s current orderbook stands at above RM400m (as at end-Jan 23) for the next three years. ● We gather from Infomina that it is still targeting to obtain more contracts from local and overseas customers in the next six months (estimated to be another RM100m-150m for the next five years). We estimate that Infomina’s tenderbook currently stands above RM550m; we expect it to further grow as Infomina’s existing and potential customers expand their businesses in the IT transformation and mainframe space.
Reiterate Add; TP unchanged at RM1.70 (25x CY24F P/E) ● No changes to our FY23-25F EPS estimates as we had earlier inputted RM275m contract wins for the next three years into our forecast. We maintain our Add call, with a TP of RM1.70, pegged to 25x CY24F P/E, a 29.5% premium to the weighted average CY23F P/E of its local peers in the IT space (19.3x). We continue to like Infomina for: i) its unique exposure to rising demand for mainframe and related-businesses, ii) its regional position as sole appointed Value-Added Distributor in Asia Pacific for Broadcom’s mainframe software, and iii) its robust earnings growth profile (3-year EPS CAGR of 41.6% vs. peers’ weighted average of 16.2%). ● Re-rating catalysts: robust EPS growth and more contract wins. Downside risks: nonrenewal of Tier 1 VAD status with Broadcom, a sharp dip in orderbook value, and lowerthan-expected margins.
PureBULL >>>, [2023-04-03 9:22 PM] INFOM this pic looks like it has just entered Form 1. n the height of its potential big money in MAJOR C is tempting. I hope it comes true soon.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
rr88
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Posted by rr88 > 2023-01-04 09:35 | Report Abuse
I told u mountain top at 1.45.
Now early stage of descend.
You will be surprised how low it will go.
The earlier you cut loss the better.