Notwithstanding the warrants being exercised, the increase to the total available shares is negligible. Based on the last quarter results reported as at 31 March 2015, the company's annualized EPS for FYE 2015 is expected to average at around 8 sen per share against outstanding shares of 603 million units. The entry of Credit Suisse as a major shareholder since late May and early June this year further affirms the company's stock is actually worth more than 60 sen per share which stands at a modest 7.86x its expected price to earnings ratio (PE) for the annualized FYE 2015. The company's proposed foray into rubber recycling business in Xiamen, China in partnership with Sekhar Research Innovations Sdn Bhd is a game changer and will certainly diversify the company's earnings in 2016. All considered I'd say a fair price for CAP ought to be between 70 sen and a ringgit per share - even if one assumes sales and earnings were to remain flat in 2016.

                                                                                                                                              Ezra, 11 June 2015