DJ MARKET TALK: China Flexible Packaging +2.2%; Stock Cheap -KE
03/01/2008
DJ MARKET TALK: China Flexible Packaging +2.2%; Stock Cheap -KE
0422 GMT [Dow Jones] China Flexible Packaging (C59.SG) +2.2% at S$0.46 as investors possibly attracted by stock's low valuations. Kim Eng Securities says shares trade at only 4.5X FY08 P/E, 0.7X P/B, "which is wholly underrated." Says renewed confidence in company justified given steady recovery in earnings, capacity expansion, good utilization rates; "the presence of sophisticated investors is a reflection of increasing institutional awareness and market confidence in CFP," Kim Eng says of combined 4.5% investment in company last year by Newsmith Asia Absolute Fund and undisclosed institutional investor. Modest volume suggests stock may struggle to head higher; resistance at S$0.50 (Oct. 4 close). (FKH)
Contact us in Singapore. 65 64154 150; MarketTalk@dowjones.com
郑姬
DJ MARKET TALK: China Flexible Packaging +2.2%; Stock Cheap -KE
03/01/2008
DJ MARKET TALK: China Flexible Packaging +2.2%; Stock Cheap -KE
0422 GMT [Dow Jones] China Flexible Packaging (C59.SG) +2.2% at S$0.46 as investors possibly attracted by stock's low valuations. Kim Eng Securities says shares trade at only 4.5X FY08 P/E, 0.7X P/B, "which is wholly underrated." Says renewed confidence in company justified given steady recovery in earnings, capacity expansion, good utilization rates; "the presence of sophisticated investors is a reflection of increasing institutional awareness and market confidence in CFP," Kim Eng says of combined 4.5% investment in company last year by Newsmith Asia Absolute Fund and undisclosed institutional investor. Modest volume suggests stock may struggle to head higher; resistance at S$0.50 (Oct. 4 close). (FKH)
Contact us in Singapore. 65 64154 150;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
January 02, 2008 23:22 ET (04:22 GMT)
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