SCIENTX hit RM2.00

I have written on Scientex 2 days ago, the link is here SCIENTX 1st Time Report.

The stock has really moved to RM2.00 (Meaning to say it hit my estimated potential of RM1.99 already).
If you look at the increasing volume, it shows that more investors are looking into this stock. However, RM2.00 may act as short term psychological barrier.

I will keep on watching this stock and temporary keep my estimate at RM1.99. However, my recent check on the news about this Company revealed 2 more catalysts which may be positive to the stock:

i) SCIENTX is planning to spend RM18m to increase capacity where investments will cover facilities for both the stretch film and strapping band. This is gathered from Business Times report, you can read the full report in this link.
My view: My earlier estimate on the earnings for the Manufacturing segment may have been too conservative as I have not factored in the new facilities which should then increase production. Will need to recalculate the value of the Manufacturing segment.

ii) It is also mentioned in the report that "As for property development, Lim said Scientex has several townships and mixed development projects in hand, namely in Pasir Gudang, Kulai, Skudai and Ayer Keroh, with a gross development value of RM1.8 billion". To my best knowledge, the land price in Johor should have increased. Will need to estimate the worth of their land using Revised Net Asset Value (RNAV) to capture the latest worth of SCIENTX land.

Valuation:
Keep the best part first... to be revealed on Sunday.