CTOS To Rebound From 1H24 Setbacks With Anticipated Robust Finish For FY24
CTOS To Rebound From 1H24 Setbacks With Anticipated Robust Finish For FY24
CTOS's management remains optimistic about its growth potential despite challenges. It has revised its FY25 forecast to a range of RM125-RM130 million from an earlier estimate of RM150-RM160 million, reflecting a more conservative outlook on revenue growth and project timelines in its digital solutions.
RHB Investment Bank Bhd (RHB Research) and Maybank Investment Bank Bhd (Maybank IB) have maintained a BUY rating for CTOS Digital Bhd following its stronger performance in the second half of 2024 (2H24).
RHb投資銀行有限公司（RHb研究）和馬來亞銀行投資銀行有限公司（馬來亞銀行IB）在2024年下半年（2H24）表現強勁後，維持對CTOS Digital有限公司的買入評級。
Both research houses expect CTOS to recover from earlier setbacks in the year, with fourth-quarter (4Q) results expected to cap off a seasonally robust 2H24. This comes on the back of a 9% quarter-on-quarter and 13% year-on-year rebound in 3Q where CTOS reported core profits of RM27.6 million.
兩家研究機構均預計CTOS將從年初的挫折中恢復，預計第四季度（4Q）的業績將爲季節性強勁的2H24畫上句號。這是在CTOS報告第三季度核心利潤爲2760萬令吉的基礎上，第三季度環比增長9%，同比增長13%。
As such, RHB Research has set a target price (TP) at RM1.58, indicating a 38% upside, while Maybank IB with a TP of RM1.65.
因此，RHb研究將目標價（TP）設定爲1.58令吉，預示着38%的上漲，而馬來亞銀行IB的目標價爲1.65令吉。
CTOS's management remains optimistic about its growth potential despite challenges. It has revised its FY25 forecast to a range of RM125-RM130 million from an earlier estimate of RM150-RM160 million, reflecting a more conservative outlook on revenue growth and project timelines in its digital solutions.
儘管面臨挑戰，CTOS的管理層仍對其增長潛力持樂觀態度。它已將FY25預測修正爲從先前的150-16000萬令吉的範圍調整爲125-13000萬令吉，反映了對營收增長和數字解決方案項目時間表的更爲保守的展望。
Nevertheless, the company is well-positioned within a rapidly expanding digital and credit solutions market in ASEAN, with a penetration rate of 10%-15% and an estimated total addressable market of RM2.7 billion.
然而，該公司在東盟日益擴大的數字和信貸解決方案市場中處於有利地位，擁有10%-15%的滲透率和約27億令吉的估計總市場需求量。
Looking ahead, CTOS anticipates a robust finish for FY24, supported by deferred project implementations and growing contributions from associates such as JurisTech and RAM Holdings. Maybank IB noted that 4Q earnings should benefit from stronger associate contributions, including from RAM Holdings and JurisTech, which reported a cumulative pipeline worth RM91 million.
展望未來，CTOS預計FY24將有一個強勁的收官，得益於推遲的項目實施和與JurisTech和RAm Holdings等合作方的增長貢獻。馬來亞銀行IB指出，第四季度的收益將受益於更強勁的合作伙伴貢獻，包括RAm Holdings和JurisTech，後者報告稱總計價值達9100萬令吉的優先事項。
As, CTOS' share price correction has provided an attractive entry point, especially given the company's dominant market position in credit reporting.
隨着CTOS的股價修正提供了一個有吸引力的入場點，尤其是考慮到該公司在信用報告領域的主導地位。
譯文內容由第三人軟體翻譯。
