ACE Market-bound Autocount Dotcom gets bullish target price of 61 sen

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

ACE Market-bound Autocount Dotcom gets bullish target price of 61 sen FMTNews FMTBusiness

Proceeds from Autocount Dotcom Bhd’s listing exercise will be used on R&D for its software, and setting up offices in Thailand, Indonesia, Vietnam and the Philippines.

It said the TP of 61 sen was based on FY2023F earnings per share of 2.8 sen and a price-to-earnings ratio of 22x, which is a 10% discount to the technology sector’s FY2023F PE. Autocount has so far sold about 70,000 software licences for use by about 210,000 businesses and companies in Malaysia and Singapore to support its finance and accounting functions, it added.

“The company intends to leverage on the success of its business growth in Singapore by diversifying its revenue stream and expanding its business across various countries such as Thailand, Vietnam, Indonesia, and the Philippines with the primary focus of selling cloud-native software.” said Mercury.Autocount plans to facilitate this expansion along with other research and development efforts to enhance existing software and develop new software using proceeds from the IPO.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Signs of hope for China property market, but boom is over: analystsPummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term.
Source: staronline - 🏆 4. / 75 Read more »

Analysts see signs of hope for China property market, but boom is over | The Malaysian InsightFor 20 years, developers were able to build at breakneck speed thanks to easy bank loans, but high debts have put paid to that.
Source: msianinsight - 🏆 8. / 63 Read more »

Chinese digital currency stocks surge amid new efforts to promote e-CNYSHANGHAI/SINGAPORE: Chinese digital currency-related stocks jumped on Monday in a weak broader market, amid the latest measures that China is taking to promote the use of its own central bank digital currency (CBDC), the digital yuan.
Source: staronline - 🏆 4. / 75 Read more »