PETALING JAYA: Cahya Mata Sarawak Bhd
(CMSB), which posted a 71% year-on-year rise in net profit for the fourth quarter ended Dec 31, 2023 (4Q23), is expected to see improvement in earnings this year due to rapid construction job flows in Sarawak.
As the company is the state’s sole cement producer, analysts are upbeat that CMSB stands in a good position to capitalise on the state’s ongoing economic development.
At the moment, they are maintaining their earnings forecasts pending an analyst briefing later.
MIDF Research, which is retaining its “buy” call on CMSB with an unchanged target price of RM1.32, said despite its under performance, it continues to like the group as it remains a key beneficiary of stronger construction job flows in Sarawak, being the state’s sole cement producer.
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