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At the initial public offering (IPO) price of 60 sen per share, Hock Soon would be valued at about seven times the latest reported profit, but the earnings multiple would jump to more than 100 times when accounting gains and government subsidies are excluded
In tandem, mega development launches have captured headlines across Malaysia, including SkyWorld Development Bhd’s launch of its largest affordable project in Penang and the Negeri Sembilan government’s unveiling of the RM1 billion Auto City development in Nilai.