AmInvestment Research considers Malayan Cement’s January-March 2020 results slightly below its forecast (as it had expected the company to break even in January-June 2020).
KUALA LUMPUR: AmInvestment Research is upgrading Malayan Cement to “buy” from “hold” and keeping its fair value unchanged at RM3.30 as it expects the company to be profitable in 2021 to 2022.
It said yesterday that it now projects an FY20 (18 months ending June 2020) net loss of RM253.5mil (vs a net loss of RM184.7mil previously), and net profits of RM40mil and RM53.2mil in FY21 to FY22 respectively (vs RM44.7mil and RM58.6mil previously).
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