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Research by TA Securities
Not Rated – Target Price RM0.32
“Rising Demand for Pawnbroking Services”
At an IPO price of RM0.24/share, EMCC is priced at a trailing PER of 13.3x FY22 EPS. Ascribing a 10% discount to Malaysia’s average NBFI (including Pappajack) P/B ratio of 2.1x due to EMCC’s smaller market cap to FY23e BV, we arrive at a fair value of RM0.32/share.
i optimistically believe it can be achieved......it's a recession proof business & some more our country directions' is to reintroduce GST & rationalize subsidies.....those who are underbanked would be affected.......There are a lot of rooms for EMCC to grow since their current market share only 3.3%...the most important thing is how the "towkay" take care of the share price