Maybank Kim Eng analyst Eric Ong is positive on Sarine Technologies as it posted its best results in the 1HFY2021 ended June since 2014.

He has also increased his target price to 94 cents from 70 cents previously as he rolls forward his valuation on the counter to FY2022.

Sarine Tech’s net profit of US$12.6 million ($17.0 million), which surged 972.4% y-o-y, exceeded the FY2021 estimates forecasted by the brokerage as well as the consensus.


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