I cant really understand the rationale behind low valuation given by MIDF. I mean this company acquire a company with market capitalization of RM1.3 million and sold its condensed milk unit for RM800 million to RM1 billion.
But at RM3.65 a share, this company is only worth RM700 million which is slightly more than half of value of assets acquired and much less than assets that they are selling.
Not to mention Can-One has its own tin can business too.
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mcheat
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Posted by mcheat > 2019-06-17 17:08 | Report Abuse
I cant really understand the rationale behind low valuation given by MIDF. I mean this company acquire a company with market capitalization of RM1.3 million and sold its condensed milk unit for RM800 million to RM1 billion.
But at RM3.65 a share, this company is only worth RM700 million which is slightly more than half of value of assets acquired and much less than assets that they are selling.
Not to mention Can-One has its own tin can business too.
Strange! Perhaps MIDF knows something we don't.