KUALA LUMPUR: Shares of Apex Healthcare Bhd , which have been on an uptrend, hit a record high on Monday, reaching RM8.61 at midday.
The pharmaceutical counter surged 36 sen, or 4.36% to RM8.61, giving it a market capitalisation of RM1.011bil. It high a high of RM8.72. The stock rose 12% in the past month.
The counter is currently trading at 19.8 times trailing 12-month earnings per share and 20 t0 times its estimates for the coming year.
In a recent sectorial report, Affin Hwang Capital expects the generic pharmaceutical producers to be best poised to benefit from the deliberated policies overlooming the healthcare sector.
The research house said Apex Healthcare could raise its average selling price (ASP) in 4Q18 depending on market conditions post the implementation of the sales and services tax.