Thanks for this. FLC is trading at 8.5x Price Earnings FY20. Valuation has finally caught up with price. Problem is, the basket of water stocks in HK, Singapore are also trading around these same valuations. Only in the US do water stocks trade on a higher valuation of 14X.
The question begs, why isn’t the sector better appreciated in HK and Singapore, and now, FLC, especially a sector as essential for life as this? Sorry, don’t have the answer. If somebody does, please share.
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