As a provider of a suite of services related to personal identity management and biometrics, TOTM Technologies is one of a kind on the Singapore Exchange.

Stock price

15.2 c

52-week
range

13.9 –
32.5 c

PE (ttm)

--

Market cap

S$129 m

Price-to- book

2

Dividend 
yield 
(ttm)

--

1-year return

- 51%

Source: Yahoo!

Formerly known as Yinda Infocomm, it entered the industry about 15 months ago with the acquisition of a 51% stake in International Biometrics (InterBIO).

Though Singapore-incorporated, InterBIO's business was in Indonesia where it won an Indonesian national tender for a biometrics project way back in 2011.

It has since been maintaining the country's national biometric system covering 200 million citizens.

Below is KGI's research note on the most recent milestone -- a significant one -- of TOTM. Is a near-term future of profitability on the cards for TOTM?


Totm overview6.22
TOTM Technologies Ltd (TOTM SP): Joining hands with Presight to scale solutions

  • BUY Entry – 0.155 Target – 0.183 Stop Loss – 0.142
  • The Group is an integrated solutions and services provider in personnel identity management and biometric technology. Its solutions leverage platforms from strategic partners and are applied to public and private projects across North America, Europe, Middle East, Asia Pacific, Latin America, and Africa. It manages and maintains one of the largest biometrics National ID databases in the world with about 200m enrolled citizens.

  • "The new agreement with Presight.AI will, in our view, surely help cement TOTM’s revenue growth trajectory and place it in good steam to return to profitability."

    -- KGI
    Scaling up solutions in MENA and APAC. TOTM signed a strategic teaming agreement with Presight.AI, a G42 and Rafael Advanced Defense Systems JVCo, to develop and deploy proprietary technologies to deliver high performance biometric, AI capabilities and solutions to clients in MENA and Southeast Asia.

    Specifically, the partners will be looking to develop hardware-less eKYC authentication and build new systems that may not require internet connectivity for biometric authentication.

  • Starting to see revenue traction. As at last update in January 2022, TOTM was in the midst of ramping up its operations, with 1H22 revenue surging 263% YoY to S$10.1m mainly on virgin contributions of S$8m from its biometrics business.

    PierrePrunier yindaPierre Prunier, CEO of TOTMImportantly, we observed that c.97% of revenue was derived from recurring sources.

    Nonetheless, as part of its ramping up, TOTM remained loss making, extending losses to S$5.3m mainly on cost of sales of S$5.8m as well as general jump across salaries, legal and professional expenses.

  • Revenue traction to continue even as peers’ growth tapers. There is currently no coverage on the stock. Looking across horizontally, listed biometrics companies in Asia are few, with the bulk listed in western markets.

    According to Bloomberg data, TOTM’s western peers reported median YoY revenue growth of just 14.5%. Notably, sectoral ROEs are negative, with slightly more than half of our peer list recording positive historical ROE.

    The new agreement with Presight.AI will, in our view, surely help cement TOTM’s revenue growth trajectory and place it in good steam to return to profitability.

You may also be interested in:


Share Prices

Counter NameLastChange
AEM Holdings4.140-0.020
Avi-Tech Electronics0.3250.040
Broadway Ind0.157-0.003
China Sunsine0.4400.005
DISA0.003-
Food Empire0.5150.005
Fortress Minerals0.3850.010
Geo Energy Res0.365-0.015
Golden Energy0.450-0.020
GSS Energy0.060-
InnoTek0.5200.005
ISDN Holdings0.485-
ISOTeam0.095-
IX Biopharma0.163-0.007
Jiutian Chemical0.093-0.001
KSH Holdings0.340-
Leader Env0.057-0.004
Medtecs Intl0.199-0.006
Meta Health0.0380.002
Moya Asia0.058-0.002
Nordic Group0.4000.005
Oxley Holdings0.169-0.001
REX International0.275-0.005
Riverstone0.7400.005
Sinostar PEC0.2350.025
Southern Alliance Mining0.6350.030
Straco Corp.0.410-0.005
Sunpower Group0.385-0.005
The Trendlines0.102-0.002
Totm Technologies0.149-0.001
UG Healthcare0.220-
Uni-Asia Group1.040-0.020
Wilmar Intl4.040-0.050
Yangzijiang Shipbldg0.930-

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 914 guests and no members online