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Ramssol is not being appreciated by the market. Trading at a historical price-earnings ratio of around 14 to 15 times, the group’s growth prospects warrant a higher multiple
Apex Securities and Maybank Investment Bank, have on average projected the company to register net profit of RM29.6 million and RM39.1 million on revenue of RM115 million and RM156 million in FY2026 and FY2027 respectively, according to Bloomberg data.
Both Apex Securities and Maybank IB remain bullish on Ramssol with a “buy” recommendation, resulting in a consensus 12-month target price of RM1.45.
Apex said the suspension could accelerate Rider Gate’s JPJ transaction ramp-up if users seek alternative digital channels, but cautioned against assuming a one-for-one transfer of MyEG’s historical volumes
Recent news memang golden opportunity for Ramssol to step up, with Rider Gate already on board the potential for consistent recurring revenue looks quite promising
The Road Transport Department’s (JPJ) suspension of MyEG Sdn Bhd and Zetrix AI Bhd as collection agents, effective Oct 5, 2026, has opened a potential growth avenue for Ramssol Group Bhd.
Apex Research thinks Ramssol’s wholly- owned unit, Rider Gate Sdn Bhd, is well-placed to handle a portion of the displaced transaction volume as the unit was appointed by the JPJ in December last year as a collection agent for a two-year period.
