Halex, another blackhorse ??

What we can expect for next IPO -- Halex ??

Halex IPO to list its shares on September 16 2009 in bursa, plans to raise RM7.8 million by issuing 10 million shares at 78 sen per share through the initial public offering. Oversubscription of 7.14 times
Product mostly focus on tissue cultured plants, festive plants, agrochemicals, horticulture and healthcare disposable products. They plans to expand the existing facilities in Kawasan Industri Bandar Tenggara, Johor, to cater to more production lines.
75% revenue from local & 25% oversea
After reading their financial report, it's what I understand:

Revenue : 26 million
EPS: 3.74 (cent)
PE: 5.21 (base on 3.74 for 4 qtr & IPO price 0.78)
Debt : 1: 0.5 healthy

If market price go up to RM1, PE still healthy as 6.7 only...
Overall look good & healthy for me compare to previous 2 IPO (msports and Tas), but it's quite a small scale. Performance should be better than others 2, hopefully ^-~