CGS-CIMB's report on 9 July 2021 rated Silverlake Axis a 'buy' with a target price of 35 cents. The stock, a former market darling which is currently trading near 8-year lows, has prompted a favourable KGI report too (below).

 

SILVERLAKE AXIS (SILV SP): The future is digital

  • BUY Entry – 0.26 Target – 0.30 Stop Loss – 0.24

  • gohpengooi 11.17MD and controlling shareholder
    Goh Peng Ooi.
    Silverlake Axis is a software company that provides banking solutions to banks in Asia. The company has been operating for more than 30 years. Of the top 20 largest banks in Southeast Asia, 40% of them use Silverlake’s core banking solutions. 

  • Parent’s new partner. Earlier this month, The Edge reported that private equity firm Ikhlas Capital is investing US$40mn in Silverlake Group, the holding company of the SGX-listed Silverlake Axis Ltd. Silverlake Group is the largest shareholder of Silverlake Axis.

    In turn, Ikhlas Capital is partly owned by former banker Datuk Seri Nazir Razak, and the firm is one of the partners of a conglomerate comprising other firms including AirAsia’s Group e-wallet unit Big Pay and Malaysian Industrial Development Finance (MIDF) vying for one of the five digital banking licenses to be awarded by the first quarter of 2022. 

  • New opportunities. Given Silverlake Axis’s experience and expertise in providing banking solutions over the past 30 years, combined with the recent news of investment by Ikhlas Capital into its parent company, we think that the award of one of the five digital banking licenses could provide a much-need catalyst to Silverlake’s share price.

    Silverlake’s share price is currently trading near its 8-year low, partly due to business slowdown over the years, and also due to a damaging short-seller report in 2015 which caused its market cap to almost halve in value.

    Silverlake chart7.21


Share Prices

Counter NameLastChange
AEM Holdings4.010-0.120
Avi-Tech Electronics0.280-
Broadway Ind0.137-0.001
China Sunsine0.455-0.010
DISA0.003-
Food Empire0.510-
Fortress Minerals0.310-0.030
Geo Energy Res0.365-0.005
Golden Energy0.790-0.020
GSS Energy0.050-
InnoTek0.435-
ISDN Holdings0.435-0.020
ISOTeam0.104-
IX Biopharma0.135-0.004
Jiutian Chemical0.076-0.003
KSH Holdings0.340-0.005
Leader Env0.0500.001
Medtecs Intl0.101-0.013
Meta Health0.028-0.001
Moya Asia0.089-
Nordic Group0.495-0.010
Oxley Holdings0.158-0.002
REX International0.220-0.010
Riverstone0.545-0.010
Sinostar PEC0.180-0.010
Southern Alliance Mining0.630-
Straco Corp.0.410-
Sunpower Group0.285-0.005
The Trendlines0.086-0.003
Totm Technologies0.124-0.002
UG Healthcare0.179-0.001
Uni-Asia Group0.870-0.050
Wilmar Intl3.860-0.020
Yangzijiang Shipbldg1.040-0.040

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 394 guests and no members online