SINGAPORE (May 20): Despite forecasting a poor 2HFY20 on the back of a bearish Covid-19-hit economy, most analysts have maintained “hold” calls on Silverlake Axis on the back of attractive valuations for the software firm. 

How the firm - which specialises in software for the finance industry -- performs going forward, will depend on the willingness of banks and financial institutions to keep up with their IT capital expenditure post-crisis. 

“Silverlake Axis reported a weaker 3QFY20, below our estimate. It also guided for a weaker 4Q20, due to the Movement Control Order (MCO) in Malaysia. Large deals continue to be a challenge to close, with many delayed by MCO measures or economic uncertainties,” report RHB analysts Jarrick Seet and Lee Cai Ling. 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook