MARUICHI Malaysia Steel Tube Bhd chief executive officer and managing director Tunku Ya'acob Tunku Abdullah believes the company's shares are currently still “grossly undervalued”, given that shareholders would soon be receiving dividends of RM2 net cash per share.
Assuming price earnings of 12 times, Ya'acob said Maruichi's shares were worth about RM4 post-payment of the dividends.
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