TA issued a report on PGF... bullish. Target price is RM2.76.
"We remain optimistic about the outlook for PGF as robust demand for glass wool insulation in the Australian housing market. Its participation in the new Western Sydney International Airport project is expected to fuel FY25-26 earnings growth. Moreover, we believe the company stands a good chance of supplying insulation products for the upcoming Penang LRT project. Note that PGF supplied its glass wool products to Kajang MRT and Singapore MRT projects for roof insulation and noise barrier usage."
"As far as Automotive High Tech Valley (AHTV) is concerned, the introduction of the “Muallim Speed-Lane” initiative is expected to expedite the process of developing AHTV in Tanjung Malim. Also, the MoF has recently registered the proposed construction of a new highway that will connect Tanjung Malim to Lumut. The Menteri Besar of Perak
was quoted as saying that the new highway is necessary to facilitate export logistics services through the LuMIC when AHTV begin operations. All these would bode well for PGF, given its significant 1,311-acre landbank just next to the AHTV."