Saliran is currently below its RM0.27 IPO price and at a significant discount to peers despite demonstrating far larger revenue scale and stronger balance sheet metrics. Once listing expenses and elevated tax effects subside, could support a valuation closer to RM0.35 per share, implying over 60% upside from current levels.

SALIRAN recorded a revenue of RM116.3 million and a Profit After Tax (“PAT”) of RM1.4 million, reflecting continued progress in its growth journey.

Compared to the Q1, revenue rose 22.5% from RM95.0 million. Despite the revenue growth, PAT declined from RM2.6 million to RM1.4 million. The decrease in PAT stemmed from Saliran’s deliberate pricing strategy to retain existing clients and attract new accounts, which forms part of the Group’s long-term customer acquisition drive.