Malayan Cement will acquire 12 companies involved in cement and ready-mixed concrete businesses, as well as marketing and plant management activities from its parent YTL Cement.
KUALA LUMPUR: AmInvestment Research is maintaining its buy recommendation, forecasts and fair value (FV) of RM3.36 a share for Malayan Cement (MCement) based on US$108 per clinker tonne following the corporate exercise with its parent YTL Cement.
In its research note on Monday, it said the FV (8.2 million clinker capacity x US$108 x RM4.12: US$1minus RM833mil net debt) was at a 10% discount to the replacement cost of US$120 to reflect the still challenging cement sector outlook in Peninsular Malaysia
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