[%owwA%] 
Research by APEX
Hold – TP of MYR 0.44

“Lacklustre Start” 

Results review. In 1QFY25, net profit declined 43.4% yoy and 10.4% qoq to RM1.4m. The yoy decrease was primarily due to lower revenue and higher costs, particularly from depreciation. The qoq decline was attributed to seasonality effects, as clients typically spends lower IT expenditure at the beginning of the year. Revenue for the quarter decreased 8.4% yoy and 36.5% qoq to RM57.8m.

Analyst(s):
Jayden Tan
[%QOaJ%]

$KLSE-KRONO 
Research by APEX
Hold – TP of MYR 0.44

“Lacklustre Start” 

Results review. In 1QFY25, net profit declined 43.4% yoy and 10.4% qoq to RM1.4m. The yoy decrease was primarily due to lower revenue and higher costs, particularly from depreciation. The qoq decline was attributed to seasonality effects, as clients typically spends lower IT expenditure at the beginning of the year. Revenue for the quarter decreased 8.4% yoy and 36.5% qoq to RM57.8m.

Analyst(s):
Jayden Tan
kdtan@apexsecurities.com.my