“Furthermore, Silverlake expects revenue from the multi-million 10-year core and channels digital banking Mobius deal with a client in Malaysia to come in FY2024. Silverlake is beginning to close more deals and is witnessing an uptick in inquiries about its financial services market solutions and capabilities,” he adds.
Analysts at CGS-CIMB Research and PhillipCapital Research are maintaining their “add” and “buy” calls on Silverlake Axis (SGX:5CP
) with lower target prices of 36 cents following the company’s 2QFY2024 ended December results release.
PhillipCapital analyst Glen Thumm notes that the quality of Silverlake’s earnings is improving, meeting his estimates. He also highlights that the company’s project pipeline is healthy at RM1.4 billion ($394 million), with contract wins of RM114 million in 2QFY2024 and an order backlog of RM790 million going into the rest of FY2024.
