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How low can it go? Its peers both PPHB and Ornapper have shown improved 3Q results. With available cash in hand for the acquisition, there could be more positives to the share price than negatives.
When screening for stocks, I some times do a scattergram of the PE and PBV. I then look for those with both low values for both. There are about 20 odd Bursa companies under the packaging sector. The PE: PBV scattergram of them as of Sep 2023 is shown in the chart below. Note that I have excluded those whose PE < negative 20 for the purpose of this chart https://i.postimg.cc/90C1kzPw/Packaging-PE-PBV.png.
You can see that there are 2 companies as circled in red that have the lowest PE : PBV values. They are KYM and PPHB
Note that a cheap stock does not necessarily mean a good investment ie one that can enable you to make money. As a value investor, I use these in conjunction with some other fundamental metric eg ROE to narrow the screen.
In my ROE screens, I not only look at the historical ROE but also compare them to my reference – New Toyo and Canone – where I have detailed analysis. https://www.i4value.asia/2022/03/has-new-toyo-move-beyond-being-cigar.html#more
KYM returns are not as good as my reference. In the packaging sector, companies differ by products and the industry they serve. So no 2 companies are alike. So when I screen for companies, I look at ROE with reference to some based companies that I have analyzed in detail. Then I have a better feel of whether the target company is a better choice than my base. In the case of the packaging sector, by bases are Canone and New Toyo https://www.i4value.asia/2022/03/has-new-toyo-move-beyond-being-cigar.html#more