DMX

DMX: its Indonesia subsidiary PT Packet Systems Indonesia (PSI) has secured its largest contract to date – a US$10.6m order from PT Pegadaian Persero, an Indonesian govt-owned corp with a monopoly in fiduciary services in Indonesia. PSI will provide data centre and net work infrastructure to interconnect 3,000 branches across Indonesia and enabling remote access. PSI has been making inroads in the information and communication technologies (ICT) business with telecom operators and enterprises, and this contract win has opened up another vertical sector for PSI. The group reported strong growth from Indonesia for FY12, with its Indonesia revenue (13% of group revenue) surging 25% yoy to US$51m. The stock trades at 11.1x P/E, 0.6x P/B.