KUALA LUMPUR: AmInvestment Research is upgrading Malayan Cement to Buy from Hold and keeps its fair value unchanged at RM3.30 and it expects the company to be profitable in 2021 to 2022.
It said on Wednesday it now projects an FY20F (18M ending June 2020) net loss of RM253.5mil (vs. a net loss of RM184.7mil previously), and net profits of RM40.0mil and RM53.2mil in FY21 to 22F respectively (vs. RM44.7mil and RM58.6mil previously).
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