APEX Healthcare stable strong growth performance

We have been holding APEX Healthcare 4 years ago and we continue to call for a hold. Buy if market in weak position. Pharmacy and drugs related business has given APEX a stable growth trend. Strong revenue increased with mild profit increment may drive the company EPS ratio around 10 and below. Given pharmaceutical industry valuation above 15 times. APEX worth around RM 6.00 and above. With a propose bonus issue up coming. We believe the stock will be a long term hold for us.