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Sorry* why it go down to 0.58. Currently company is able to back to profitable 2021 and latest 2022Q1 QR profit was highest since 2016. As I understand when company is making loss then share price was traded at discount PB around 0.5xBV. Now it has been profitable therefore share price movement shall reflect back as company earnings.. or fair value shall be around 1xBV.
I think because this stock is undervalue. Compare with its peers currently Evergrn was traded at 0.45 x PB 1.21 & PE 12.94, Mieco at 1.82 x PB 0.42 & PE 22.18 and Hevea at 0.59 x PB 0.74 & PE -xxx?.After restructure and dispose its China business with increasing ASP Evergreen is back to profitable. Currently shortages of foreign workers and container freight issue is affecting Malaysia furniture industry..once this being solve, Malaysia furniture factory may increase production & material
More and more good news is coming. 2022 will be more better than 2021. Currently urea prices already drop 40% from its peak on December 2021 and this will benefit Evergrn.