Silverlake Axis / Goh Peng Ooi

Re: Silverlake Axis / Goh Peng Ooi

Postby winston » Thu Mar 28, 2019 10:50 am

not vested

Silverlake Axis (SILV SP) Buy (Maintained)
Solid In 2019; Keep BUY Target Price (Return) SGD0.65 (+18%)
Price: SGD0. (+18%) 55
Market Cap: USD1,075m
Avg Daily Turnover (SGD/USD) 0.7m/0.5m

Keep BUY on this country pick, SGD0.65 TP offers 18% upside plus 4% FY19F yield.

Silverlake Axis’ 2QFY19 revenue/PATMI surged 28%/84% YoY, mainly on wider margins
stemming from licensing revenue jumping 98% YoY as it continued to implement a major Malaysian contract.

This outperformance should continue into the rest of 2HFY19, which may lead to stellar
results again, in 3QFY19.

We expect 3QFY19 to be upbeat, on continued margin improvement and a positive PATMI uptrend.

Source: RHB

https://research.rhbtradesmart.com/atta ... ff1cdd.pdf
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Re: Silverlake Axis / Goh Peng Ooi

Postby winston » Sat Jun 22, 2019 6:42 am

not vested

Silverlake Axis on track for solid FY19, says RHB

by Samantha Chiew

SINGAPORE (June 20): RHB Research is keeping Silverlake Axis as its top pick in Singapore and in the technology sector, as the digital economy solutions and services provider stays on track to finish the year on a high.

“With improving fundamentals and strong earnings growth as of 9M19, Silverlake Axis is on track to record a robust FY19,” says lead analyst Jarick Seet in a Wednesday report.

“We expect the sturdy growth in earnings and margins to continue into 4Q19, as it continues to execute the major Malaysian core banking contract,” he adds.

The group saw its PATMI surge 77% y-o-y in 3Q19, as margins from licensing revenue growth nearly doubled, while revenue rose 12% y-o-y.

And Seet expects Silverlake to continue on this trajectory to see similar growth for 4Q19.

“Silverlake should book a positive 4Q19F performance, on continued margin and positive PATMI growth,” he says.

RHB is maintaining its “buy” rating on Silverlake Axis with an unchanged target price of 65 cents, representing an upside of 18%.

Looking ahead, the analyst says potential large order wins from the region could lift Silverlake’s PATMI even further.

“With banks budgeting for more IT investments, especially in Indonesia and Thailand, we understand management is actively in talks with a few potential new and existing customers,” Seet says.

Silverlake has signalled that it is confident of securing additional large-sized contracts by the end of 2019, which Seet believes should further contribute towards PATMI growth in FY20-21.

As at end 3Q19, Silverlake’s orderbook stood at RM250 million.

At the same time, the management has said that it intends to reward shareholders with better dividends.

The group declared distribution per share of 0.4 cents in 3Q19, 33% higher than DPS of 0.3 cents a year ago. And the management has guided that it will likely look to increase the payout ratio further for 4Q19.

Historically, the group has paid over 80% of earnings as dividends.

“In addition, we believe Silverlake will likely engage in more share buybacks, similar to what was done in 2018 – which is a positive,” says Seet. “Due to previous share buybacks, we expect its dividend payout ratio for 2H19 to be 60-70%, resulting in a projected FY19 yield of 4%.”

As at 1.15pm, shares in Silverlake are trading flat at 55 cents, or 7.7 times FY19 book.

Source: The Edge

https://www.theedgesingapore.com/capita ... 401b309bc7
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Re: Silverlake Axis / Goh Peng Ooi

Postby behappyalways » Thu Jul 11, 2019 10:58 am

Silverlake Axis announces 6 new contracts wins
https://www.theedgesingapore.com/news/c ... racts-wins
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Re: Silverlake Axis / Goh Peng Ooi

Postby behappyalways » Sat Aug 24, 2019 4:41 pm

Silverlake Axis posts 86% increase in 4Q earnings to $22.3 mil on higher sales, other income
http://www.theedgesingapore.com/capital ... her-income
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Re: Silverlake Axis / Goh Peng Ooi

Postby winston » Mon Aug 26, 2019 11:30 am

not vested

Take a breather

4Q19 NP was in line with our expectations, but below Bloomberg consensus.

Although SILV’s orderbook backlog of c.RM260m remains healthy, the absence of large-sized project wins could pressure margins in FY20F.

We also lower our dividend payout expectations as SILV is reserving cash for further M&As.

Resume coverage with a Hold rating and TP of S$0.53.

Source: CIMB

https://brokingrfs.cimb.com/5YBc8l7HV2n ... WZuJQ2.pdf
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