<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 31): TA Securities has valued ACE Market-bound Plytec Holding Bhd at 12x CY2024 EPS, arriving at a fair value of 35.5 sen.</p></div>

<div class=newsTextDataWrapInner><p>The construction engineering solutions and services provider is set to be listed on Nov 15.</p></div>

<div class=newsTextDataWrapInner><p>In a note on Tuesday, the research house said that moving forward, it estimates Plytec to record earnings growths of 4.6% to RM14.6 million for FY2023, 22.9% to RM18.0 million for FY2024, and 10.5% to RM19.8 million for FY2025, underpinned by its expansion plans and growing demand from the construction and engineering industry.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We expect the domestic market will remain as the main market for the group.</p></div>

<div class="mt-3  imgw-400 embed-right"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2023/Plytec-TA-3110.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/Plytec-TA-3110.png" /></a></div>

<div class=newsTextDataWrapInner><p>“Currently, there is no listed company from Bursa Malaysia that is directly comparable with Plytec.</p></div>

<div class=newsTextDataWrapInner><p>“We assign a target PE multiple of 12x to Plytec and arrive at a fair value of 35.5 sen share,” it said.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/690007" target="_blank">New ACE Market-listed Plytec drops 5.71% at midday break</a><br />
<a href="https://theedgemalaysia.com/node/688653" target="_blank">ACE Market-bound Plytec’s IPO oversubscribed by 6.72 times</a><br />
<a href="http://theedgemalaysia.com/node/687364" target="_blank">Construction engineering solutions group Plytec seeks ACE Market listing to raise RM37.1 mil</a></em></p></div>


TA Securities has valued ACE Market-bound Plytec Holding Bhd at 12x CY2024 EPS, arriving at a fair value of 35.5 sen.

TA Securities values ACE Market-bound Plytec at 35.5 sen

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