Is there value in Pelikan?

CEO Loo Hooi Keat

Pelikan International Corp Bhd is in the final stages of its most significant corporate exercise, which will see it transformed into a holding company with a potential value of over RM1bil.

However, the restructuring plan that Pelikan announced in July seems to have had little impact on its share price, which only perked up briefly last week to a three-month high of RM1.33 on Oct 2.