Malayan Cement

Malayan Cement

Postby winston » Mon Feb 24, 2020 2:19 pm

not vested

Malayan Cement Berhad (LMC MK) : BUY
Mkt. Cap: US$739m I 3m Avg. Daily Val: US$0.07m
Last Traded Price ( 20 Feb 2020): RM3.62
Price Target 12-mth: RM4.40 (22% upside) (Prev RM3.95)

Lifted by better gross margin
Net loss continued to narrow with improved gross margin
Gross margin was supported by better cement prices and lower coal prices
Expect better quarters ahead, backed by improved demand and more cost savings
Sentiment has turned positive; maintain BUY with higher TP of RM4.40

Source: DBS

https://researchwise.dbsvresearch.com/R ... bgfikfcafi
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: Malayan Cement

Postby winston » Tue Apr 21, 2020 8:12 am

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Malayan Cement's post-merger turnaround to continue after MCO

KUALA LUMPUR: RHB research has initiated coverage on Malayan Cement Bhd with a buy rating as the manufacturer's turnaround story is expected to continue on pent-up demand from domestic construction projects and exports traction spilling over into 2021.

Ther research house said in a note that the cement producer's losses have narrowed on cost rationalisation and easing industry headwinds since YTL Cement Bhd's takever in May 2019, and this should continue after the movement control order is lifted.

"Recovering ASPs and decline in key input costs should drive a sharp earnings rebound in 2H20, outpacing the broader economy on back-loaded volume demand supporting utilisation rates," it said.

In addition, RHB expects the upcoming 12th Malaysian Plan to provide longer-term volume visibility, with potential upsides due to pent-up demand from previously delayed infrastructure project roll-outs.

"Malaysia’s 2019 cement consumption of 424kg/capita trails its long-term average of 632kg, suggesting a potential ‘rubber-band’ mean reversion down the line as macroeconomic conditionsimprove post-pandemic and spur a broad recovery in building materials demand.

"We note that public development expenditure increased during the 2008-2009 global financial crisis despite reporting a wider fiscal deficit," it said.

RHB has a target price of RM3 for the stock, which offers a 33% upside from its last traded price of RM2.25 on Friday.

Source: The Star

https://www.thestar.com.my/business/bus ... -after-mco
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Re: Malayan Cement

Postby winston » Tue Feb 16, 2021 3:52 pm

vested

Dec 31, 2020

AmInvest’s top pick for the sector is Malayan Cement (‘Buy’ with a fair value of RM3.36).

“At its current share price, the market is effectively valuing Malayan Cement at a 30% discount to its replacement cost (based on the replacement cost for clinker capacity of US$120 per tonne).

“We believe this is unjustified given that it is turning around with rational competition among players after the recent industry consolidation.

We believe our valuation for Malayan Cement, based on a 10% discount to replacement cost, is more appropriate,” said Yap.

Source: Malaysia Reserve
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Re: Malayan Cement

Postby winston » Fri Feb 19, 2021 8:05 am

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Malayan Cement staging breakout above resistance level, says RHB Retail Research

by Surin Murugiah

KUALA LUMPUR (Feb 19): RHB Retail Research said Malayan Cement Bhd is staging a breakout above the resistance level of RM2.30.

In a trading stocks note today, the research house said due to the surge in trading volume, the bullish momentum is gaining strength and this may propel the stock towards the next resistance level of RM2.43, followed by RM2.60.

“Meanwhile, a downward breach of the RM2.13 support would negate this expectation,” it said.

Source: theedgemarkets.com

https://www.theedgemarkets.com/article/ ... l-research
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Re: Malayan Cement

Postby winston » Sun Feb 21, 2021 5:33 pm

vested

Dec 24, 2020

Compelling Valuations; Stay BUY
Buy (Maintained)
Target Price (Return): MYR3.75 (50.6%)
Price: MYR2.49
Market Cap: USD521m
Avg Daily Turnover (MYR/USD) 0.51m/0.12m

Keep BUY and MYR3.75 TP, 51% upside.

Malayan Cement’s FY21F (Jun) turnaround trajectory remains on track despite the recent Conditional Movement Control Order (CMCO) reinstatement, with 1QFY21 hitting breakeven at PBT level, led by the cement segment.

A cement demand recovery heading into 2021, accommodative cost environment, and further benefits accrued from ongoing integration with parent YTL Cement should
continue to underpin sequential earnings recovery going forward.

Source: RHB

https://research.rhbtradesmart.com/view ... e2942f5a46
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Re: Malayan Cement

Postby winston » Tue Feb 23, 2021 2:38 pm

vested

Nov 27, 2021

Better performance due to cost efficiencies

1QFY6/21 results were above expectations with core net profit of RM0.7m.

Operational efficiencies were the main driver, ahead of demand recovery.

Hold with a higher TP RM 2.50; positives from Budget 2021 appear to be in the price.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 9DBF410133
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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