Skyechip
1. Global IP Peer Premium: International silicon IP companies trade at 124x+ PE. At RM2.7, SkyeChip is still trading at a discount to ARM (201x) and M31 (281x)
2. Growth Trajectory: 44.6% revenue CAGR (FY23-FY25) with RM130.3m unbilled order book
3. Geopolitical "Neutral" Advantage: China+1 strategy benefits as Chinese chipmakers diversify away from US/IP restrictions
4. Memory IP Growth: Memory interface IP revenue grew 530% from FY23-FY25, driven by HBM4 and LPDDR6 upgrade cycles
5. ARM CSS Partnership: Access to Malaysia's RM1.1 billion ARM collaboration for server CPU development.

Good Luck, Comrades!