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Berjaya Research has assigned NWE Resources Group Bhd a fair value of 29 sen per share, implying 48.8% potential upside from its IPO price, supported by the group’s diversified business model and planned expansion in product development and in-house manufacturing.
The research house valued NWE at 12 times FY2028 forecast core earnings per share of 2.4 sen, a multiple it said is broadly in line with selected Bursa Malaysia-listed peers involved in health food and personal care product distribution
From a technical perspective, the share price closed at RM0.26 on 2 October, up 4%, with 4.09 million shares traded. The stock is trading above its 20-, 60-, and 120-day moving averages. Momentum has started to turn upward, while the KC money-flow indicator suggests a return of buying interest
