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Research by MIDF
Buy – TP RM1.38

“A Quarter of Slower Activities"

Maintain BUY. In light of the upcoming developments that are expected in Sarawak which will drive stronger construction job flows, we believe CMSB is well positioned to ride on this upside as it is currently the only cement producer in the state and the main supplier. We expect ongoing projects such as the Pan Borneo Highway and the upcoming Sabah-Sarawak Link Road (Phase 2) to further improve demand. All factors considered; we reiterate our BUY recommendation on CMSB.

Analyst:
Royce Tan Seng Hooi
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$KLSE-CMSB
Research by MIDF
Buy – TP RM1.38

“A Quarter of Slower Activities"

Maintain BUY. In light of the upcoming developments that are expected in Sarawak which will drive stronger construction job flows, we believe CMSB is well positioned to ride on this upside as it is currently the only cement producer in the state and the main supplier. We expect ongoing projects such as the Pan Borneo Highway and the upcoming Sabah-Sarawak Link Road (Phase 2) to further improve demand. All factors considered; we reiterate our BUY recommendation on CMSB.

Analyst:
Royce Tan Seng Hooi
royce.tan@midf.com.my