not true, peng. Oppstar is newly listed and there's limited data from the past and there is no sufficient data/objective evidence of its capabilities from IP perspectives driving future growth. A more relevant and realistic baseline relative comparison is indeed the PE of its peers which is based on their historical performance. And we are talking about experienced peers from Japan, Korea and India.

Will be tough to use PE for Oppstar as it is the only listed company in Malaysia in IC design services, Teong Poh. However, PE20 is similar with more experienced regional peers such Socionext Inc (Japan) and Silicon Works (Korea). Can be a good baseline for relative comparison.