MALAYAN CEMENT BERHAD
KLSE (MYR): MCEMENT (3794)
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Last Price
5.01
Today's Change
+0.17 (3.51%)
Day's Change
4.84 - 5.05
Trading Volume
1,247,000
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Discussions
2 people like this. Showing 50 of 1,031 comments
https://www.straitstimes.com/singapore/first-major-construction-tender-for-changi-airport-t5-launched-in-march-chee-hong-tat
The launch of this major construction tender will be very good for MCement business in Singapore
2024-04-26 08:53
CIMB research this morning raised target price for MCement to RM6.80, projecting double-digit growth in earnings over next 3 years.
The projected EBITDA for MCement will exceed RM1.0 billion a year, as what I forecast last year. We can expect higher dividends from MCement.
2024-05-03 14:02
Hume latest Q results will give hints that mcemet upcoming Q results will be explosive. Cheers!
2024-05-16 00:14
MCEMENT PE 20 , HUME PE 9?
MCEMENT profit margin 10% , HUME profit margin 19.6%
It doesn't make sense
2024-05-16 11:34
@KeepLearning, we cannot compare like to like. Cement is a commodity business, and the profit margin depends a lot on the input costs especially coal costs. Each cement company has different purchasing strategy for coal, but over time when coal prices stabilises (over a period of 6 months or more), each cement company should have similar cost structure and profit margin level.
It also depends on each cement company's total production capacity, i.e. any spare capacity and the initial sunk in costs (and hence depreciation charges). MCement has become this big by acquiring Lafarge Cement, so there is some legacy cost from the acquisition that takes time for Mcement to consolidate.
We shall see from Mcement upcoming result next Thursday whether its profit margin has caught up with peers.
2024-05-16 16:57
Another record closing for MCement today. Congratulations to those who still hold on.
2024-05-16 16:57
https://klse.i3investor.com/web/blog/detail/dragon328/2024-05-23-story-h-161458128-YTL_YTL_Power_The_Best_Performing_Stocks_May_Again_Double_Up_in_AI_Driv
For leisure read. You may consider gaining some exposure to the parent YTL
2024-05-23 15:05
MCEMENT major input cost fot manufactue cement is coal.
Import coal price is in USD. Selling finished priduct, cement is in RM.
USD have weaken by 9% since Jun from RM 4.72 to RM 4.33 now. The lower feedcost via currency weakness alone will boost Mcement profit significantly as cement selling price remain elevated unchanged.
Upcoming MRT3, Penang LRT, Johor BRT, HSR, booming Data center and China +1 semiconductor industry all will increase cement demand forward.
2024-09-09 17:30
If check MCEMENT latest Q result, it cost of sale have decrease significantly, boosting it's Pretax profit margin to 40% from 30%. However, net profit increase only smaller due to one off impairment RM 131m. Stripping out the impairment, MCEMENT EPS in actual can deliver 16sen instead of 8sen.
Next coming Q result will be very interesting, if revenue sustain at current level, profit margin will further increase from current 40% to up to 45% due to significant 9% weaken USD cost currency on import cost coal. Next EPS could range 18sen-20sen
2024-09-09 20:20
https://klse.i3investor.com/web/blog/detail/dragon328/2024-05-23-story-h-161458128-YTL_YTL_Power_The_Best_Performing_Stocks_May_Again_Double_Up_in_AI_Driv https://hillclimb-racing.com
For leisure reading, you might want to explore and get acquainted with the parent company, YTL.
2024-09-11 17:13
Mcement debt level have trim down significantly due to strong cash flow generated RM 1.2 billion yearly. Mcement balance sheet will like turn net cash position in 1-2 year time. Higher dividend is expected
2024-09-13 10:22
@hng33, you really had a good spot here again after winning big in PBA. Indeed a sifu in stock picking!
MCement latest Q4 result shows that its debt level has reduced by RM600 million in a year, due to its super strong cash flows of RM930 million in FY2024.
Q4 net profit would have been much higher if not for an impairment of RM137m recognised in the quarter for plant and machinery at Rawang plant. Pretax profit would have been at RM281 million without the impairment and net profit about RM215 million or EPS of 16.2 sen.
2024-09-13 11:56
Without the impairment, EPS would have been 16 sen a quarter, annualised to 64 sen for FY2025. At a conservative PER of 10x, MCement should be worth at least RM6.00.
Based on its operating cashflows of RM930 million a year, MCement would be valued at RM13.3 billion at 7% FCF yield, or RM9.90 per share as what I had initially projected back in 2022.
2024-09-13 12:02
As YTL owns some 73% stake in MCement, the surging profits at MCement will help to propel YTL earnings up in next few years and to push YTL share price to double up also by 2028.
2024-09-13 12:06
Dragon328
Yes, if without ome off impairments incur in Q4, it EPS will be 16sen.
Based on current strength in
RM against import feedstock, coal at USD cost and stabilise ongoing coal selling price, Mcement is expect deliver even better next Q profit forward.
2024-09-13 13:47
Upcoming MRT3, Penang LRT, JB BRT, HSR and more exposure in SARAWAK market aftet secure state gov import permit to expand cement market share to west Malaysia, Mcement also now is direct proxy to SARAWAK construction activities and may through SARAWAK also penetrate to kalimatam, new Nusatara capital
2024-09-13 13:52
Dragon
If compared between YTL and Mcement, i still prefer Mcement for its direct exposure instead of conglomerate which often need to trade at discount level.
2024-09-13 13:58
Market also have will give premium valuation to Mcement given fact that it is largest cement marker in Malaysia, control more than 60% whcih if including new market in SARAWAK, Mecemnt market share should even higher.
2024-09-13 13:59
Dragon
For direct utilities exposures - YTLP and PBA
For cement and building materials exposures - Mcement
For hospitality - YTLREITS
After stripping out above gem, YTL construction profit margin is too slim either external or internal work
2024-09-13 14:03
Yes I agree with your arguments above.
But YTL is still cheap as a construction stock, if not seen as a conglomerate. YTL will be the key beneficial for the upcoming mega projects like MRT3 and HSR as one of the front runners to win the projects as a contractor.
2024-09-13 14:24
Wow the whole group result already overdue. Why never release? Usually mcement and YTL Reit release ahead of corp and power. Now all also quiet......
3 weeks ago
Don't be too excited. All these ECRL, Johor link and etc project going to complete. With no new mega projects like MRT3, HSR and etc coming quarters earning will be gloomy
3 weeks ago
Highest topline and bottomline in the last 12 quarters, with borrowings also reduced substantially. Good QR~
3 weeks ago
Excellent quarterly results from Mcement with profits jumping up some 47% year-on-year due to continued improvements in operational efficiencies and lower production costs. Despite a slightly lower topline, earnings jumped up substantially to a new high with gross margin improved by 5% to a new high of 34.5%.
Continued plant improvements like waste heat recycling and higher plant efficiency will last a long way for the company to keep scaling new highs in quarters to come.
3 weeks ago
@dragon328, I notice that the topline/revenue for September 2024 (1.17bio) is slightly higher compared to both September 2023 (1.15bio) and June 2024 (1.04bio) :)
3 weeks ago
https://klse.i3investor.com/web/blog/detail/dragon328/2024-11-27-story-h475503050-YTL_YTL_Power_Q1_FY2025_Resilience_is_the_Key
My update report for your leisure read
3 weeks ago
@beginner888, yes the topline increased by 2% y-on-y but you should look at the double digit gain in gross margin, amazing!
3 weeks ago
@dragon328, ya, the margin is indeed amazing!
@cwc1981, ya, the lack of a catalyst could be the reason behind the share price drop from RM5.85 to the current level following the Budget 2025 announcement
3 weeks ago
The Management should initiate strategic action plan to ensure they deliver long term value, not just short term share price movements.. Suppose share price should exceed RM5.85 right now..
2 weeks ago
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dragon328
Mcement delivered better than expected results for Q2
https://klse.i3investor.com/web/blog/detail/dragon328/2024-02-22-story-h-188247094-YTL_YTL_Power_Ended_Year_2023_with_a_Bang
2024-02-22 20:23