Tuesday, November 8, 2016

Results Note � SCICOM (MSC) (BUY, maintain)


Top Calls

Results Note SCICOM (MSC) (BUY, maintain)

- A strong start

Scicom
s 1QFY17 core net profit of RM10.9m (+26.7% yoy) was within our expectations. The business process outsourcing (BPO) segment and the e-government service (EMGS) contract continued to grow, while the EBITDA margin expanded due to economies of scale. We believe the company will be able to extend its e-government services regionally. Maintain BUY and TP of RM2.74.



For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

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