KUALA LUMPUR (June 28): PublicInvest Research has derived a fair value of 42 sen for Infoline Tec Group Bhd based on an about 19x P/E multiple to its FY23F EPS of 2.2 sen.

Infoline Tec is principally involved in providing information technology (IT) infrastructure solutions, cybersecurity solutions, managed IT and other IT services, together with trading of ancillary hardware and software.

In a note on Tuesday (June 28), PublicInvest said for the FY18 to FY21 period, Infoline Tec has implemented solutions for customers’ offices primarily based in Malaysia and Shenzhen, China.

The research house said the group has also implemented solutions for customers’ offices based in other countries and regions in Asia-Pacific, namely Hong Kong, Australia, Singapore, Thailand, Taiwan, South Korea, India, Myanmar, Indonesia and the Philippines.

“Moving forward, apart from setting up its security operations centre, technology centre and disaster recovery centre Infoline Tec intends to enhance its existing network operations centre as well as expand its geographical presence.

“We derive a fair value of RM0.42 based on an about 19x P/E multiple to its FY23F EPS of 2.2 sen,”it said.

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