Cloudpoint Technology: Another Record Finish

Excluding RM1m Main Market transfer costs and minority interests, Cloudpoint Technology achieved a record FY25 core net profit of RM22.6m (+9.7% YoY), meeting 95% of our full-year estimate but 93% of consensus. Results were resilient despite delays in three major tech refresh contracts.

Meanwhile, the 75%-owned Unique Central (UC) continued to excel in its second year, contributing RM9m in net profit.

Cloudpoint Technology

“We think the company’s share price has overreacted negatively, trading at an unwarranted P/E multiple of only 11-12x compared to the local software valuation of 20x following the recent correction.

“Hence, we revise our TP from RM1.22 to RM0.94, pegged to a revised 20x FY26 EPS. We make no changes to our earnings forecasts. A final DPS of 1sen was declared for the quarter, bringing the full-year DPS to 2sen (4.1% dividend yield),” says PIB.

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