Malaysia Smelting Corporation - UOB Kay Hian 2023-02-20: 4Q22 Above Expectations

Malaysia Smelting Corporation - 4Q22 Above Expectations

Published:
MALAYSIA SMELTING CORP BHD (SGX:NPW) | SGinvestors.ioMALAYSIA SMELTING CORP BHD (SGX:NPW)
  • The improvement in earnings was mainly due to a recovery in tin prices and higher smelting output. Malaysia Smelting Corp is well-positioned for a more meaningful growth in FY23 backed by stronger production, elevated tin prices and better margins from the full utilisation of its new eco-friendly plant at Pulau Indah.
  • - Read this at SGinvestors.io -

Malaysia Smelting Corp's 4Q22 results above expectations.

  • Malaysia Smelting Corp (MSC, SGX:NPW) reported a 4Q22 core net profit of RM24.8m (vs core net loss of RM24.9m for 3Q22, -61.4% y-o-y) on revenue of RM391.2m (+13.7% q-o-q, +53.4% y-o-y). See Malaysia Smelting Corp's announcement dated 17 Feb 2023. This brought its cumulative 2022 core earnings to RM104.3m (-13% y-o-y), above our expectations, accounting for over 110% of our full-year estimates.
  • - Read this at SGinvestors.io -
  • higher sales of refined tin on the back of stronger production output with the completion of furnace re-bricking at Pulau Indah. On a y-o-y basis, the decline is largely due to higher average tin price last year.
  • Malaysia Smelting Corp declared a first and final single-tier dividend of RM0.07 per share, 8% and yield of 3.3%. This is similar to FY21’s dividend. See Malaysia Smelting Corp's Dividend History.

Mining to lead earnings growth ahead.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Hazmy Hazin UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-02-20



Previous report by UOB:
2022-11-22 Malaysia Smelting Corp - 3Q22 Below Expectations.

Price targets by other brokers at Malaysia Smelting Corp Target Prices.

Listing of research reports at Malaysia Smelting Corp Analyst Reports.

Relevant links:
Malaysia Smelting Corp Share Price History,
Malaysia Smelting Corp Announcements,
Malaysia Smelting Corp Dividends & Corporate Actions,
Malaysia Smelting Corp News Articles





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