Broker Name: CGS International
Date of Report: August 22, 2025
Excerpt from CGS International report.

Report Summary

• ISDN Holdings’ 1H25 revenue grew 22% year-on-year to S\$212.9m, driven by construction revenue and recovery in China and Southeast Asia, but net profit fell 66% due to unrealised foreign exchange losses from its mini-hydropower business.
• The company remains positive on long-term prospects, especially in industrial automation and hydropower, but has cut FY25-27 earnings forecasts due to currency impacts and lower margins from ongoing construction revenue.

Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgs-cimb.com