Continue to hold
Bought 50k $EVERGRN(5101.MY$ at RM0.315 around March 2024 and holding til now. after thr Q1 results, revenue started to normalise despite US is still facing inflation pressure. Should the same performance continue for the remaining 3 quarters, RM0.39 still very cheap in valuation. do not forget that their relocation of factory to Indonesian will only be completed by Sep 2024 and the lower cost structure, better domestic demand and lower raw material input cost will further strengthen the earning capability of the Company. Conservatively speaking, 50 sen by end of year should be something inside the pocket. 50 sen is also 38.2% Fibonacci retract from the previous high in 2020.
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