<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 15): CGS-CIMB Securities said it believes Malayan Cement Bhd is a key beneficiary of the KL-Singapore high speed rail (HSR) and Mass Rapid Transit 3 (MRT3) projects.</p></div>

<div class="mt-4 embed-right"><a class="mobx embedimg-icon imgw-300" data-desc="" data-rel="ceolightbox" data-title="" href="//assets.theedgemarkets.com/pics/2023/surin-malayan-cement-story-15082023.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/surin-malayan-cement-story-15082023.png" /></a></div>

<div class=newsTextDataWrapInner><p>In a note on Monday (Aug 14), the research house has maintained its “add” rating on Malayan Cement at RM3.25 with a higher target price of RM5.55 (from RM5.08) and raised the company’s earnings per share by 4% for the financial year 2023 (FY2023), by 32% for FY2024 and by 29% for FY2025.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>CGS-CIMB said cement industry's prospects will look brighter post the fourth quarter of calendar year 2023 once there is clarity on the MRT3, Bayan Lepas Light Rail Transit and HSR, which have a combined value of circa RM90 billion.</p></div>

<div class=newsTextDataWrapInner><p>“Assuming cement accounts for 5% of total construction cost, we estimate this could result in additional demand of RM4.5 billion over the next five to six years.</p></div>

<div class=newsTextDataWrapInner><p>“We believe the company is a key beneficiary of HSR and MRT3 regardless of YTL’s involvement,” it said.</p></div>

<div class=newsTextDataWrapInner><p>The research house added that it expects the release of Malayan Cement’s fourth quarter of FY2023 results to trigger earnings upgrades and for consensus earnings to be more in line with house projections, thus serving as a re-rating catalyst.</p></div>


CGS-CIMB Securities said it believes Malayan Cement Bhd is a key beneficiary of the KL-Singapore high speed rail (HSR) and Mass Rapid Transit 3 (MRT3) projects.

Malayan Cement a key beneficiary of HSR and MRT3, says CGS-CIMB

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His story

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<p>KUALA LUMPUR (Nov 24): Sime Darby Property Bhd (KL:SIMEPROP) took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA). This is the second time it has done so, the first time being in 2009. It was also the joint winner of the Best in Qualitative Attributes sub-award this year.&nbsp;</p>


<p>KUALA LUMPUR (Nov 24): William Dalrymple — scholar, detective, master storyteller and acclaimed historian — weaves together the various narratives and legacies of Ancient India in his latest book, The Golden Road, which trumpets the subcontinent’s impact as a primaeval superpower, the effects of which reverberate until today.&nbsp;</p>


<p>(Nov 23):&nbsp;In the waning days of his administration, US President Joe Biden is pushing to strengthen Ukraine’s position against Russia before the return of Donald Trump to the White House.</p>
