Shares of state gas distributor Perusahan Gas Negara (PGAS) declined 0.74% to Rp1350 on Friday last week (July 7), to make market capitalization of Rp32.72 trillion, way below equity (Rp53 trillion). The stock was last traded with PE multiple 6 on annualized earnings in the first quarter. What an irony for a market leader in the gas transportation and distribution industry. To subscribe please click here
