CGS-CIMB’s William Tng has initiated coverage on Aztech Global with a “buy” rating and a target price of $1.91. 

This comes after Aztech reported earnings of $13.2 million for the 1QFY2021 ended March, 22 times higher than the $0.6 million recorded for 1QFY2020. At the same time, revenue grew 211% y-o-y to $115.9 million from $37.3 million previously. 

The higher revenue was driven mainly by strong production volume and shipment of IoT and Data-communication products to customers that boosted revenue from this segment to $106.3 million.

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)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook