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MALAYSIA SMELTING CORPORATION BERHAD

(MSC)
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Malaysia Smelting Corporation Berhad Announces Temporary Suspension of Operations Due to the Malaysian Government's 3Rd Movement Control Order

06/09/2021 | 08:39am EDT

The Board of Directors of Malaysia Smelting Corporation Berhad announced that in adherence to the enforcement of the full Movement Control Order 3.0 implemented by the Malaysian Government to fight the Covid-19 pandemic, the Company has temporarily suspended its tin mining and smelting operations from 4th June 2021 until 14th June 2021. The Government has announced that further phases of lockdown will be implemented, if required. It is not known if further restrictions may be imposed in future phases of the lockdown. During this period, companies that are deemed "essential services" by the Government are allowed to operate with limited operating parameters. As a key supplier to the global tin supply-chain, the Company has appealed to the relevant Government agencies to be allowed to operate at 60% workforce capacity in adherence to the Standard Operating Procedures (SOPs) set by the Ministry of International Trade and Industry. The temporary suspension of operations pursuant to the MCO 3.0 is expected to have an impact on the Company's operations and financial performance for the financial year ending 31 December 2021. At this juncture, the Company is unable to ascertain the extent of the impact. MSC has also issued a notice of force majeure to its customers as the disruption in production will lead to a slowdown in the Company’s scheduled delivery of tin metal. Pursuant to this, all contractual obligations are immediately suspended. The Company will notify the customers of the termination or cessation of the force majeure notice as soon as able to resume the level of operations that will enable MSC to meet its contractual obligations.


© S&P Capital IQ 2021
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Financials
Sales 2021 1 114 M 267 M 267 M
Net income 2021 67,4 M 16,2 M 16,2 M
Net Debt 2021 - - -
P/E ratio 2021 13,7x
Yield 2021 1,59%
Capitalization 924 M 222 M 222 M
Capi. / Sales 2021 0,83x
Capi. / Sales 2022 0,66x
Nbr of Employees 1 213
Free-Float 35,7%
Chart MALAYSIA SMELTING CORPORATION BERHAD
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 2,20 MYR
Average target price 2,67 MYR
Spread / Average Target 21,4%
EPS Revisions
Managers and Directors
Mian Thong Yong Group CEO & Non-Independent Executive Director
Hoi Khong Lam Group Chief Financial Officer
Gek Khim Chew Non-Independent Non-Executive Chairman
Raveentiran Krishnan Group Chief Operating Officer-Smelting
Seong Lee Chen Deputy Chief Executive Officer-Administration