Zantat Holdings Berhad
Mon, 11-Mar-2024 07:37 am
by Jayden Tan • Apex Research

Counter

ZANTAT (0301)

Target Price (RM)

0.32

Recommendation

Buy

  • One of the leading producers of high-grade Calcium Carbonate (CC) powder and CC dispersions products in Malaysia with 4 production plants and 2 parcels of leasehold lands with limestone reserves in Perak that commands approximately 7.0% market share from production volume of GCC in Malaysia.
  • Earnings are anticipated to strengthen, driven by contributions from the Bioplastics compounding business and rising exports to India, alongside the normalisation of Crude Palm Oil (CPO) prices.
  • Zantat is valued by pegging its FY24F core EPS of 2.47 sen to PE of 13.0x, leading to a FV of RM0.32 (28.0% potential upside from IPO price).
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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.431349 4.466109
EUR 4.725230 4.729698
CNY 0.615997 0.616606
HKD 0.569934 0.573901
SGD 3.315285 3.338615