PETALING JAYA: Investor sentiment on CTOS Digital Bhd continues to improve after the credit rating agency announced several corporate exercises that could accelerate its growth. Last Friday, CTOS proposed three corporate exercises – the first entails the buying of a 49% stake in Juris Technology Sdn Bhd for RM205.8mil. Kenanga Research estimated that CTOS is paying about 23 times FY21 price-to-earnings ratio (PER) for JurisTech. Kenanga Research added that the acquisitions would increase CTOS’ profits from its associates, lifting FY22 core net profit by 7%. Both RHB Research and HLIB Research retain their “buy’’ calls with target prices of RM2.42 and RM2.45 a share, respectively.

Source: The Star December 28, 2021 13:29 UTC