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Not necessarily need to wait for the price to drop back to IPO level. Sometimes it’s better to wait for earnings growth to catch up with the valuation.
The company is good and has a strong moat, but at the current price, it still doesn’t look attractive enough for me to enter. In the future, if earnings continue growing and they start giving decent dividends, it could attract more long-term investors.
Can compare it with KPJ Healthcare Berhad and IHH Healthcare, both trading at around a PE ratio of 40. Sunway Medical Centre has a strong moat, so I’d consider it attractive at around a 45–50 PE range.
