Johore Tin Berhad (JTB) is a manufacturing company that focuses on the production of tin cans ranging from confectionary to paint and chemicals. Furthermore, it has also expanded into the F&B industry via the production of condensed milk, evaporated milk, and other dairy products.
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Desktop Valuation – For Illustrative Purpose Only
Due to competitive prospects (as highlighted by management), I have assumed the following:
- EPS at $0.15
- EPS annual growth rate at 3%, long term perpetual growth rate at 2%
- Discount rate at 10%
I acknowledge that the tin can industry is competitive. Nevertheless, I believe this industry is consumer-driven, hence will possess some level of business resilience. The company has also been buying back its own shares.
Disclaimer: This is not an investment advice or endorsement. Please refer to general disclaimer of this blog.