PETALING JAYA: AmInvestment Bank Research has cut its earnings estimate on Infomina Bhd
by 24% for the financial year 2025 (FY25), FY26 and FY27 due to concerns about the slower than anticipated progress in securing new projects.
The research house stated Infomina’s outstanding order book fell 10% quarter-on-quarter (q-o-q) to RM393mil as at end August. It stated this could be due more to a timing issue, adding that Infomina’s pipeline remained healthy with a tender book at RM860mil.
Infomina’s first quarter of FY25 earnings of RM8mil came in below the research house’s expectations, forming 17% of its and consensus estimates.
The shortfall was due to weaker-than-expected turnkey business, which fell by 63% year-on-year (y-o-y), outweighing renewal revenues which rose by 2% y-o-y. Its revenue dropped by 17.84% y-o-y to RM46.18mil.
On the brighter side, AmInvestment Research stated Infomina is currently working on a new artificial intelligence -powered solution, which could potentially be developed into a third income stream.
