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Hot Stock Century Bond jumps 6.5% on positive report by PublicInvest Research
by Cals Wed 15 Apr 2015, 19:58
Hot Stock
Century Bond jumps 6.5% on positive report by PublicInvest Research
[You must be registered and logged in to see this image.]
By Surin Murugiah / theedgemarkets.com | April 15, 2015 : 10:11 AM MYT
[size=14]KUALA LUMPUR (April 15): Shares of [size=14]Century Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) Bhd jumped this morning afterPublicInvest Research said the company’s shares were worth at least RM2.19.
At 9.53am, Century Bond ([You must be registered and logged in to see this image.] Financial Dashboard) rose 6.52% or nine sen to RM1.47 with 688,400 shares done.
In a note today, the research house, which does not have rating on the stock, said Century Bond’s integrated and diversified packaging businesses were valued at only PER of 5-6x compared to the industry average PER of 15x after stripping out its net cash holdings of RM80 million.
“Despite having a solid earnings record over the last 11 years, we think its existing businesses are significantly overlooked mainly because of low visibility on the company, and possibly its small shareholding spread.
“Be that as it may, it does warrant a look. Assuming a 20% discount to the industry average PER of 15x for its packaging business, our SOP-based valuations show that the company being worth at least RM2.19,” it said.[/size]
[/size]
Century Bond jumps 6.5% on positive report by PublicInvest Research
[You must be registered and logged in to see this image.]
By Surin Murugiah / theedgemarkets.com | April 15, 2015 : 10:11 AM MYT
[size=14]KUALA LUMPUR (April 15): Shares of [size=14]Century Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) Bhd jumped this morning afterPublicInvest Research said the company’s shares were worth at least RM2.19.
At 9.53am, Century Bond ([You must be registered and logged in to see this image.] Financial Dashboard) rose 6.52% or nine sen to RM1.47 with 688,400 shares done.
In a note today, the research house, which does not have rating on the stock, said Century Bond’s integrated and diversified packaging businesses were valued at only PER of 5-6x compared to the industry average PER of 15x after stripping out its net cash holdings of RM80 million.
“Despite having a solid earnings record over the last 11 years, we think its existing businesses are significantly overlooked mainly because of low visibility on the company, and possibly its small shareholding spread.
“Be that as it may, it does warrant a look. Assuming a 20% discount to the industry average PER of 15x for its packaging business, our SOP-based valuations show that the company being worth at least RM2.19,” it said.[/size]
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