TP Rm2.5
The current FCPO just stood at Rm5,100, a price level of early 2022. The price rally similar to 2020 to 2022 previously seems to be repeating. The market cap would be 6307m based on average PAT for 2021 and 2022, with undemanding 15x PE. The upside potential is 100% based on the current market cap of 3150m (1.26/share).
JPG’s profits after tax were 345m (2021) and 496m (2022) respectively.