KUALA LUMPUR: Careplus Group Bhd, which made its debut on the ACE Market on Monday, Dec 6, is set to double its capacity from 420 million gloves annually.
The company said the increase in capacity would come into effect when its new five lines are completed by the third quarter of 2011.
'Careplus' new lines will focus on nitrile gloves,' a company official said.
Its shares opened higher, up 4.5 sen to 27.5 sen with 3.15 million shares done.
Maybank Investment Bank Research said Careplus was fairly valued at its IPO price of 23 sen. The research house said at 23 sen, Careplus was valued at historical PER of 7.8 times.
'Annualising its 1HFY11 EPS, the stock is fairly valued ' it will trade at 8.5 times FY11 PER versus small-cap peer Latexx Partners' 6.0 times,' it said.
The company said the increase in capacity would come into effect when its new five lines are completed by the third quarter of 2011.
'Careplus' new lines will focus on nitrile gloves,' a company official said.
Its shares opened higher, up 4.5 sen to 27.5 sen with 3.15 million shares done.
Maybank Investment Bank Research said Careplus was fairly valued at its IPO price of 23 sen. The research house said at 23 sen, Careplus was valued at historical PER of 7.8 times.
'Annualising its 1HFY11 EPS, the stock is fairly valued ' it will trade at 8.5 times FY11 PER versus small-cap peer Latexx Partners' 6.0 times,' it said.
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