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Allan Tham commented on SCICOM.
1 month
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The government is aggressively pushing the 13th Malaysia Plan (MP13), which has set a target of 70% SPM graduate participation in TVET.
Budget 2026: A record RM7.9 billion was allocated to TVET (up from RM7.5 billion), specifically to integrate AI, robotics, and digital skills into the curriculum.
National TVET Day: Scheduled for June 5–7, 2026, in Putrajaya. This will likely be the next major milestone where industry players (like Scicom) showcase their platform’s progress.
Budget 2026: A record RM7.9 billion was allocated to TVET (up from RM7.5 billion), specifically to integrate AI, robotics, and digital skills into the curriculum.
National TVET Day: Scheduled for June 5–7, 2026, in Putrajaya. This will likely be the next major milestone where industry players (like Scicom) showcase their platform’s progress.
全球AI大模型受到袭击和股票暴跌！被一家叫Anthropic的公司颠覆了整个AI 大模型市场，造成AI开发公司哀鸿遍野。。。
Anthropic 的新软件技术突破，直接影响了全球生产AI大模型的企业股价暴跌，例如Open Ai, Google, Meta, Gemini, Grok等等AI公司。
甚至波及一些使用（AI leverage company like Scicom）AI软件企业公司的股价暴跌。
本人分析认为，这些使用AI软件的公司只是市场的过敏反应而暂时下调，没有影响公司的基本面，合约，工程和盈利。好的AI Leverage 公司，现在是一个好的机会。例如Scicom 没有买卖建议，买卖自负。
Anthropic 的新软件技术突破，直接影响了全球生产AI大模型的企业股价暴跌，例如Open Ai, Google, Meta, Gemini, Grok等等AI公司。
甚至波及一些使用（AI leverage company like Scicom）AI软件企业公司的股价暴跌。
本人分析认为，这些使用AI软件的公司只是市场的过敏反应而暂时下调，没有影响公司的基本面，合约，工程和盈利。好的AI Leverage 公司，现在是一个好的机会。例如Scicom 没有买卖建议，买卖自负。
短期内会上看2.00. 中期目标价3.00. 因为Scicom 的 projects 满满，而且都是高利润的政府工程。买卖自负。
今日（1月21日），Scicom (0099) 表现异常强劲，盘中冲破 RM1.60，最终收于 RM1.57。目前的走势不仅是技术面的突破，更是市场对其近期多个国家级/巨头级项目落地实施的信心体现。
以下是建议您立即加仓的三个核心逻辑：
1. 强强联手：与巨头（TM & SIRIM）的落地执行
Scicom 目前已不再只是传统的 BPO 公司，而是转型为 AI 驱动的数字服务商：
Telekom Malaysia (TM) 战略合作： 公司已与 TM 达成战略协议，共同开发 AI 驱动的客户体验平台。随着实施进程的推进，这将为 Scicom 带来长期的服务费收入，并深度嵌入马电讯的数字化生态。
SIRIM 数字化项目： 与 SIRIM 的合作标志着 Scicom 在政府工业技术数字化领域的权威地位。这些“大客户”项目的实施，确保了未来几年收入的高可见度和稳定性。
2. 财务数据极度亮眼 (FY26 Q1)
净利激增 57.4%： 最新的季度净利润达到 RM12.32 million，每股收益 (EPS) 从 2.20 仙跳升至 3.47 仙。
现金为王： 公司维持零负债状态，拥有超过 RM6,000 万现金，足以支撑其未来的业务扩张和高额派息。
3. 丰厚的红利回报 (Dividend Yield)
公司已宣布第一季度股息为 3.0 仙（较去年同期大幅增加）。
按当前股价计算，预计全年股息率将超过 8%。这在当前利息环境下，是极具竞争力的“现金奶牛”。
结论：
Scicom 的股价目前正处于“业绩爆发+大项目落地+技术突破”的三重共振期。RM1.57 - RM1.60 只是上涨通道的起点，建议趁回调或当前势只是上涨通道的起点，建议趁回调或当前势头继。 Trade at your own risk.
以下是建议您立即加仓的三个核心逻辑：
1. 强强联手：与巨头（TM & SIRIM）的落地执行
Scicom 目前已不再只是传统的 BPO 公司，而是转型为 AI 驱动的数字服务商：
Telekom Malaysia (TM) 战略合作： 公司已与 TM 达成战略协议，共同开发 AI 驱动的客户体验平台。随着实施进程的推进，这将为 Scicom 带来长期的服务费收入，并深度嵌入马电讯的数字化生态。
SIRIM 数字化项目： 与 SIRIM 的合作标志着 Scicom 在政府工业技术数字化领域的权威地位。这些“大客户”项目的实施，确保了未来几年收入的高可见度和稳定性。
2. 财务数据极度亮眼 (FY26 Q1)
净利激增 57.4%： 最新的季度净利润达到 RM12.32 million，每股收益 (EPS) 从 2.20 仙跳升至 3.47 仙。
现金为王： 公司维持零负债状态，拥有超过 RM6,000 万现金，足以支撑其未来的业务扩张和高额派息。
3. 丰厚的红利回报 (Dividend Yield)
公司已宣布第一季度股息为 3.0 仙（较去年同期大幅增加）。
按当前股价计算，预计全年股息率将超过 8%。这在当前利息环境下，是极具竞争力的“现金奶牛”。
结论：
Scicom 的股价目前正处于“业绩爆发+大项目落地+技术突破”的三重共振期。RM1.57 - RM1.60 只是上涨通道的起点，建议趁回调或当前势只是上涨通道的起点，建议趁回调或当前势头继。 Trade at your own risk.
Executive Summary – Scicom (MSC) Bhd
Stock price: RM 0.965 | FY2025 net profit: ≈ RM 20.35 million | Cash: ≈ RM 50 million | Debt: 0 | Dividend payout: 80-90 % of earnings (quarterly since 2005)
Scicom (MSC) Bhd is a Malaysian BPO and government-technology specialist entering a potential new growth phase. For FY2025, Scicom delivered ≈ RM 20.35 million net profit (EPS ~5.7 sen/share based on ~356 million shares), while maintaining its high 80-90 % dividend payout policy.
? Growth Catalysts
Three Government Concessions Secured:
• TVET – 15-year contract serving ≈ 436,000 vocational students in partnership with > 150 companies (with more expected to join)
• SIRIM and MDEC – additional long-tenure gov-tech mandates
Strategic BPO / AI Partnership with Telekom Malaysia – expands enterprise solutions and is expected to lift operating margins as clients migrate to AI-enabled platforms.
Workforce expansion: recruiting > 800 staff to support contract execution.
Management guidance: in Q3 FY2025 Scicom highlighted “significant growth” for FY2026, while Q4 FY2025 results cited “robust” momentum ahead.
CEO interview with The Edge: if the three major contracts reach full scale, profit could quadruple vs FY2025.
? Financial Strength
Zero debt and ≈ RM 50 million cash reserve
Unbroken quarterly dividends since IPO in 2005
Payout ratio 80-90 % means future earnings growth flows directly to shareholders.
? Illustrative EPS & DPS
Scenario Profit (RM m) EPS (sen/share) DPS @ 80-90 % (sen/share) Approx. DPS/quarter
FY2025 baseline ≈ 20.35 ≈ 5.7 ≈ 4.6 – 5.1 ≈ 1.1 – 1.3
Upside – profit × 4 (CEO guidance) ≈ 80 ≈ 22 – 23 ≈ 18 – 21 ≈ 4.5 – 5.3
? Valuation at Target Yield
If the market prices Scicom at a 7 % dividend yield, the upside DPS (≈ 18-21 sen) implies a potential fair-value range of ≈ RM 2.60 – RM 3.00 per share.
Current price (RM 0.965) reflects mainly baseline earnings and has not priced in the expected contract ramp-up.
? Investment View
Scicom’s debt-free balance sheet, three secured concessions, expanding AI-driven BPO business, and high payout policy provide a solid platform for multi-year earnings and dividend growth.
Execution of the TVET, SIRIM, and MDEC contracts—together with AI-enabled margin gains—could transform Scicom’s earnings profile, potentially quadrupling profits and lifting annual dividends to ~18–21 sen/share, translating to an attractive potential yield and re-rating opportunity at current levels.
> All forecasts above are illustrative and subject to operational delivery, contract ramp-up, and board approval of dividends.
Stock price: RM 0.965 | FY2025 net profit: ≈ RM 20.35 million | Cash: ≈ RM 50 million | Debt: 0 | Dividend payout: 80-90 % of earnings (quarterly since 2005)
Scicom (MSC) Bhd is a Malaysian BPO and government-technology specialist entering a potential new growth phase. For FY2025, Scicom delivered ≈ RM 20.35 million net profit (EPS ~5.7 sen/share based on ~356 million shares), while maintaining its high 80-90 % dividend payout policy.
? Growth Catalysts
Three Government Concessions Secured:
• TVET – 15-year contract serving ≈ 436,000 vocational students in partnership with > 150 companies (with more expected to join)
• SIRIM and MDEC – additional long-tenure gov-tech mandates
Strategic BPO / AI Partnership with Telekom Malaysia – expands enterprise solutions and is expected to lift operating margins as clients migrate to AI-enabled platforms.
Workforce expansion: recruiting > 800 staff to support contract execution.
Management guidance: in Q3 FY2025 Scicom highlighted “significant growth” for FY2026, while Q4 FY2025 results cited “robust” momentum ahead.
CEO interview with The Edge: if the three major contracts reach full scale, profit could quadruple vs FY2025.
? Financial Strength
Zero debt and ≈ RM 50 million cash reserve
Unbroken quarterly dividends since IPO in 2005
Payout ratio 80-90 % means future earnings growth flows directly to shareholders.
? Illustrative EPS & DPS
Scenario Profit (RM m) EPS (sen/share) DPS @ 80-90 % (sen/share) Approx. DPS/quarter
FY2025 baseline ≈ 20.35 ≈ 5.7 ≈ 4.6 – 5.1 ≈ 1.1 – 1.3
Upside – profit × 4 (CEO guidance) ≈ 80 ≈ 22 – 23 ≈ 18 – 21 ≈ 4.5 – 5.3
? Valuation at Target Yield
If the market prices Scicom at a 7 % dividend yield, the upside DPS (≈ 18-21 sen) implies a potential fair-value range of ≈ RM 2.60 – RM 3.00 per share.
Current price (RM 0.965) reflects mainly baseline earnings and has not priced in the expected contract ramp-up.
? Investment View
Scicom’s debt-free balance sheet, three secured concessions, expanding AI-driven BPO business, and high payout policy provide a solid platform for multi-year earnings and dividend growth.
Execution of the TVET, SIRIM, and MDEC contracts—together with AI-enabled margin gains—could transform Scicom’s earnings profile, potentially quadrupling profits and lifting annual dividends to ~18–21 sen/share, translating to an attractive potential yield and re-rating opportunity at current levels.
> All forecasts above are illustrative and subject to operational delivery, contract ramp-up, and board approval of dividends.
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