Stock Digest - Autocount Dotcom Bhd - Leveraging Onto Businesses Digitalisation Efforts

Market leader for accounting software in Malaysia that raked in approximately 70,000 AutoCount software licenses sales to approximately 210,000 businesses and companies, primarily in Malaysia and Singapore. Core earnings may register sequential improvement to RM17.8m in FY24f, on the Malaysia government led initiatives to boost the adoption of business digitalisation and replicate their success in Malaysia and Singapore to the ASEAN market. ADB is valued through pegging 16.5x P/E to FY24f EPS of 3.2 sen, leading to a FV of RM0.53 (potential upside of 60.6% from IPO price).