Malayan Cement Bhd’s (MCement) improving earnings outlook has yet to be reflected in its share price, with CGS International Research describing the stock’s recent weakness as disconnected from stronger profit expectations and positive industry fundamentals.

Following a meeting with the cement producer on July 8, CGS said MCement continues to benefit from steady demand for its core cement products, while its ready-mixed concrete (RMC) and export businesses are emerging as key growth drivers.

The research house noted that Bloomberg consensus earnings-per-share (EPS) forecasts for FY2026 and FY2027 have been upgraded by between 27% and 37% since January this year. However, the company’s share price has fallen about 11% over…