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DBS ups forecasts, TP for Silverlake Axis; calls Mobius platform a ‘gamechanger’

Lim Hui Jie
Lim Hui Jie5/18/2022 02:04 PM GMT+08  • 2 min read
DBS ups forecasts, TP for Silverlake Axis; calls Mobius platform a ‘gamechanger’
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DBS Group Research analyst Ling Lee Keng has maintained her “buy” call and raised her target price on Silverlake Axis to 46 cents from 39 cents previously.

This comes after Silverlake released its 9MFY2022 ended March business update on May 13. Referring to the update, Ling says that license and project revenues, which have been challenging over the last two years, have exhibited a strong recovery, as evidenced from the 9MFY2022 results.

Silverlake revealed that software licensing revenue increased by 116% to RM60.9 million, largely contributed by the delivery of new software licensing contracts and banking deals secured in Indonesia and Thailand.

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