Car sales will drive demand for Oceancash Pacific's felt products
“Our 12-month sum-of-parts sed target price is based on target multiples of 12.9 times CY18 P/E for its felt segment (10% discount to CIMB’s CY18 automotive peer average) and 14.8 times for its non-woven segment (20% discount to CIMB’s industrial sector CY18 multiple P/E).
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