Re: Malayan Cement
Posted:
Fri Aug 25, 2023 3:07 pm
by winston
vested
June 7, 2023
Maiden dividend expected in FY24FReiterate Add with a higher TP of RM5.08 based on DCF as we raise our FY23-25F EPS by 36-107% on higher blended ASP assumptions.
Earnings recovery has thus far been ASP and cost driven. We expect stronger volume growth in 2HCY23F.
We think strong FCF generation will result in maiden dividends in FY24F.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 463455E01C
Re: Malayan Cement
Posted:
Fri Nov 24, 2023 10:42 am
by winston
not vested
HLIB upgrades Malayan Cement to 'buy' with target price of RM4.80By Lee Ming Hui
Core profit after tax and minority interest (Patami) of RM96.2 million for the first quarter of 2024 (1QFY2024), beating both HLIB's and consensus expectations.
MCement’s 1QFY2024 revenue of RM1.15 billion, which increased by 13.6% quarter-on-quarter (q-o-q) and 33.7% year-on-year (y-o-y), c
RM2 billion of debt sits at the company level.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/691222
Re: Malayan Cement
Posted:
Fri Nov 24, 2023 11:35 am
by winston
not vested
Solid start to the year1QFY6/24 results were above our expectations, with strong volume growth of 14% qoq as ASPs remained stable.
Promising prospects ahead, once large infrastructure projects are rolled out.
Reiterate Add with unchanged TP of RM5.55, based on DCF.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 541E4228CE
Re: Malayan Cement
Posted:
Thu Nov 30, 2023 10:46 am
by winston
Gaining market share in SingaporeReiterate Add; raise FY6/24F-FY6/26F EPS and lift TP to RM6.00.
Awaiting large Malaysia mega projects but exports to Singapore providing strong tailwinds, in our view
We do not see a near-term threat from CIMA sale, as MCement has dominant share
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 15BFD99345
Re: Malayan Cement
Posted:
Fri May 03, 2024 8:14 am
by winston
not vested
Malayan Cement Bhd
Poised to deliver strong earningsWe see a strong 3QFY6/24F and hence raise FY24F-26F EPS by 26-36%.
We view the aborted CIMA sale as positive for the industry and MCement.
Reiterate Add with higher DCF-derived TP of RM6.80.
Source: CIMB
https://rfs.cgsi.com/api/download?file= ... 84723EF692
Re: Malayan Cement
Posted:
Fri May 03, 2024 1:24 pm
by winston
not vested
Malayan Cement likely to report strong 3Q results, says CGS InternationalBy Jason Ng
Malayan Cement is also the sole supplier of cement for the East Coast Railway Link (ECRL) project, where its grinding plant in Port Klang covers the ECRL route, CGS said.
Exports, particularly to Singapore, should remain strong in FY2024, it added.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/710228
Re: Malayan Cement
Posted:
Fri May 24, 2024 3:02 pm
by winston
not vested
Malayan Cement expected to benefit from key infrastructure projects
Bloomberg data showed that all six institutional analysts covering MCement recommended 'buy', with a consensus target price of RM6.39. This translates into a 20.5% potential upside.
MIDF Research highlighted that MCement is poised to benefit from civil projects, such as the construction of the Penang Light Rail Transit (LRT) and the redevelopment of Kuala Lumpur Sentral, as well as private projects, including data centres, warehouses and semiconductor factories.
It said ongoing projects such as the likes of the East Coast Rail Link (ECRL), Rapid Transit System (RTS) and LRT 3 will also sustain demand for cement.
Meanwhile, CGS International pointed out that MCement had achieved a 40% cement market share in Singapore, and that demand for cement in Singapore is expected to grow, due to a slew of megaprojects, such as Changi Terminal 5, integrated resorts' expansion, the Tuas megaport and Mass Rapid Transit (MRT) projects.
MCement posted a 60% jump in 3QFY2024 net profit to RM101.24 million, from RM63.28 million a year ago, on an increase in revenue of 10.9% to RM1.10 billion from RM990.71 million.
Source: The Edge
Re: Malayan Cement
Posted:
Fri May 24, 2024 7:05 pm
by winston
Malayan Cement Bhd
Strong quarter; 4 sen interim dividend3QFY6/24 above expectations; interim dividend of 4 sen
With increased visibility of project rollouts in Malaysia and Singapore, we expect its volume growth to sustain in FY25F-FY26F
Reiterate Add and DCF-derived TP of RM6.80
Source: CIMB
https://rfs.cgsi.com/api/download?file= ... E91153A9BD