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Integrated Rubber Corp trading at PE 82.16 times, highest in sector

Tags: glove makers | Integrated Rubber Corp Bhd | price to earnings

Written by Joseph Chin

Thursday, 14 January 2010 14:40

KUALA LUMPUR: Integrated Rubber Corp Bhd (IRCB), whose share price surged to RM1.74 at the midday break on Thursday, Jan 14, is trading at a price-to-earnings of 82.16 times, which is the highest in the sector. Due to the unusual market activity regarding the share price and volume traded, the company said it was unaware of the reasons. Trading was halted from 2.30pm to 3.30pm. Data obtained from Bloomberg showed the average PE for the sector in the healthcare equipment and services was 23.94 times. ADVENTA BHD [], whose share price was at RM4.22 at midday, was trading at a PE of 35.9 times; LATEXX PARTNERS BHD [] RM4.84 (22.67 times), KOSSAN RUBBER INDUSTRIES BHD [] RM6.93 (19.19 times) and Supermax Corp Bhd RM6.09 (18.47 times). Top Glove Bhd, the world's largest glove maker, which closed at RM11.74 at midday, is only trading at a PE of 17.27 times and HARTALEGA HOLDINGS BHD [] RM7.34 (15.85 times).

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http://nexttrade.blogspot.com/2010/01/rubber-glove-stocks-time-to-take-profit.html