Post Reply
861-880 of 1563
SAC Capital lowers International Cement Group' s TP to 6.2 cents as lower bottom line expected for FY2022
SAC Capital analyst Lam Wang Kwan has kept & ldquo buy& rdquo on International Cement Group (ICG) as he deems the counter& rsquo s foundation as concrete.
The group& rsquo s results for the FY2021 ended December stood above Lam' s expectations, with revenue of $181.4 million, up 28.1% y-o-y, and net profit of $26.5 million, which increased by three-fold.
According to Lam, the group& rsquo s net profit stood 15.8% higher than his full-year estimates, which was mainly due to the stronger-than-expected revenue growth, which also surpassed his forecasts by 15.7%.
That said, Lam sees near-term headwinds such as the Kazakhstani tenge depreciating against the US dollar (USD) by 17%. The depreciation will see the group incurring forex losses as they pay engineering procurement construction (EPC) contractors in USD, while its operating expenses are paid in the Tenge.
On the back of this, Lam has estimated some $8 million of forex loss in the FY2022
The group is also likely to face affected margins, with an estimated 1.2 percentage point erosion on its gross margin due to the higher oil prices, which is driving up cost of sales.
Furthermore, the group is expecting to face increased competition in Tajikistan, with another cement producer adding a big cement plant in the country. The plant will be operational in 2023.
The entry of the new competitor is expected to negatively impact cement price in the region and reduce ICG& rsquo s Tajikistan sales by an estimated 10% in FY2023 and FY2024 annually, before growing at 3% thereafter the following consolidation in the market,& rdquo writes Lam in his March 23 report
On the back of this, Lam has lowered his target price estimates to 6.2 cents from 8.9 cents previously as he expects the group FY2022 bottom line to drop by 18.6% due to forex loss.
He does, however, estimate the group topline to grow 7.7% in FY2022 due to the addition of two new cement plants in Kazakhstan.
Sharcem, in East Kazakhstan, is expected to commence commercial sales in 2HFY2022, however, we expect to see a significant contribution in FY2023. With an annual production capacity of one million tonnes, we expect Sharcem to add [an estimated] $60 million and [around] $15 million to the top and bottom line in FY2023,& rdquo writes the analyst.
In addition, construction of the Korcem cement plant in the Jambyl region is also underway. The output will be exported to Kyrgyzstan in 2025. ICG will fund the construction of Sharcem through shareholders& rsquo loan and internal resources, while Korcem is funded via vendor financing and internal resources. Cement demand in Central Asia is underpinned by the reconstruction, urbanization and infrastructure growth plans, he adds.
To be sure, Lam sees the group recording its next earnings uplift in FY2023 with Sharcems contribution. This translates to an expected 22.4% growth in revenue and 60.3% growth in net profit with the absence of a significant forex loss.
While we are optimistic about ICG' s operations and long-term growth plan, the revised price reflects the higher cost of equity required by the current market environment,& rdquo says Lam.
As of 9.27am, shares in International Cement Group are trading 0.1 cents higher or 3.7% up at 2.8 cents, or an FY2022 P/B of 0.6x.
Maybe the destruction of Ukraine war need more cement for rebuilding. 
Hope this round shows a more solid rebound.
Hope this round shows a more solid rebound.
This baby always hangs around in top vol but nvr got screwed up by players, pls help to jack her up.Thanks
everyday got volume but when when BB push up, a profitable company......
look good 28 is the point to breakup
Financial results is out! Released near end of last week??.
ykjuay ( Date: 07-Feb-2022 10:43) Posted:
|
this counter rebounding slowly, BB accumulating quite a lot already, good show maybe on the way, already in low profile with volume....something must be brewing.....juz watch
BBs had done an after market shopping on Intl Cement. Will the show begin tomorrow?
Is Intl Cement expecting good results soon ?
International Cement Group resumes operations at Almaty cement plant (19 January 2022) in Global Cement Group.
Kazakhstan: International Cement Group has resumed operations at its Almaty cement plant following its suspension of production due to political unrest.
The group said, " To safeguard our employees and plant during the nationwide unrest, the company temporarily closed its cement plant located in the Almaty region of Kazakhstan." It added & ldquo As far as business is concerned, everything appears back to normal now.
The group said, " To safeguard our employees and plant during the nationwide unrest, the company temporarily closed its cement plant located in the Almaty region of Kazakhstan." It added & ldquo As far as business is concerned, everything appears back to normal now.
International Cement Group says cement plant in Kazakhstan has reopened
on ' stabilised' situation
Felicia Tan Published on Thu, Jan 13, 2022
The Board of Directors of International Cement Group Ltd. (the ' Company' and together with
its subsidiaries, the ' Group' ) wishes to announce that application for the striking off of
Integrate Marketing Pte Ltd, a wholly-owned dormant subsidiary of the Group, was submitted
to the Accounting and Corporate Regulat ory Authority (' ACRA' ) and subsequently received
approval from ACRA on 11 January 2022 , subject to the requirements of Section 344A(4)
and 344C of the Singapore Companies Act, Chapter 50 (the ' Strike-off' ).
In the interest of administrative efficiency and to reduce administrative costs, the Group had
decided to strike off the above-mentioned subsidiary.
The Strike-off is not expected to have any material impact on the net tangible assets and
earnings per share of the Group for the financial year ending 31 December 2022.
Save for their respective shareholding interest in the Company (if any), none of t he Directors
or substantial shareholders of the Company have any interest, direct or indirect, in the above
strike off, other than through their respective shareholdings in the Company.
its subsidiaries, the ' Group' ) wishes to announce that application for the striking off of
Integrate Marketing Pte Ltd, a wholly-owned dormant subsidiary of the Group, was submitted
to the Accounting and Corporate Regulat ory Authority (' ACRA' ) and subsequently received
approval from ACRA on 11 January 2022 , subject to the requirements of Section 344A(4)
and 344C of the Singapore Companies Act, Chapter 50 (the ' Strike-off' ).
In the interest of administrative efficiency and to reduce administrative costs, the Group had
decided to strike off the above-mentioned subsidiary.
The Strike-off is not expected to have any material impact on the net tangible assets and
earnings per share of the Group for the financial year ending 31 December 2022.
Save for their respective shareholding interest in the Company (if any), none of t he Directors
or substantial shareholders of the Company have any interest, direct or indirect, in the above
strike off, other than through their respective shareholdings in the Company.
UPDATE ON BUSINESS OPERAT IONS IN KAZAKHSTAN DUE TO NATIONWIDE UNREST
The Board of Directors (the ' Board' ) of International Cement Group Ltd. (the ' Company' , and
together with its subsidiaries, the ' Group' ) refers to the Company&rsquo s announcement dated 6
January 2022 relating to the nationwide unrest in Kazakhstan.
As order continues to be restored in Kazakhstan, management remains cautious and has
decided over the weekend to temporarily close our cement plant located in the Almaty region
of Kazakhstan to safeguard our employees and the plant.
At this juncture, the Company is unable to quantify the extent of the financial impact of the
unrest on the Group. The Company will continue to monitor the situation closely and will
make further announcements should there be any material developments on this matter.
The Board of Directors (the ' Board' ) of International Cement Group Ltd. (the ' Company' , and
together with its subsidiaries, the ' Group' ) refers to the Company&rsquo s announcement dated 6
January 2022 relating to the nationwide unrest in Kazakhstan.
As order continues to be restored in Kazakhstan, management remains cautious and has
decided over the weekend to temporarily close our cement plant located in the Almaty region
of Kazakhstan to safeguard our employees and the plant.
At this juncture, the Company is unable to quantify the extent of the financial impact of the
unrest on the Group. The Company will continue to monitor the situation closely and will
make further announcements should there be any material developments on this matter.
UPDATE ON BUSINESS OPERAT IONS IN KAZAKHSTAN DUE TO NATIONWIDE UNREST
The Board of Directors (the ' Board' ) of International Cement Group Ltd. (the ' Company' , and
together with its subsidiaries, the ' Group' ) wishes to inform that on 5 January 2022 , the
Government of Kazakhstan has imposed a nationwide state of emergency due to anti-
government demonstrations triggered by rising fuel prices and political grievances, which has
escalated into nationwide unrest.
At the moment, the operations of our Alacem cement plant, which is situated in the Almaty
region of Kazakhstan, are not significantly affected by the protests and production is
continuing as normal. Management is making the necessary contingency plans and
implementing additional safety measures in all our cement plants in Kazakhstan to ensure
the safety of our employees.
As the situation is still unfol ding, it is currently premature to ascertain if there will be any
material financial impact to the Group. The Company will continue to monitor the situation
closely and will make further announcements should there be any material dev elopments on
this matter.
In the meantime, shareholders and potential investors of the Company are advised to refrain
from taking any action in respect of their shares in the Company which may be prejudicial to
their interests and to exercise caution when dealing in the shares of the Company.
The Board of Directors (the ' Board' ) of International Cement Group Ltd. (the ' Company' , and
together with its subsidiaries, the ' Group' ) wishes to inform that on 5 January 2022 , the
Government of Kazakhstan has imposed a nationwide state of emergency due to anti-
government demonstrations triggered by rising fuel prices and political grievances, which has
escalated into nationwide unrest.
At the moment, the operations of our Alacem cement plant, which is situated in the Almaty
region of Kazakhstan, are not significantly affected by the protests and production is
continuing as normal. Management is making the necessary contingency plans and
implementing additional safety measures in all our cement plants in Kazakhstan to ensure
the safety of our employees.
As the situation is still unfol ding, it is currently premature to ascertain if there will be any
material financial impact to the Group. The Company will continue to monitor the situation
closely and will make further announcements should there be any material dev elopments on
this matter.
In the meantime, shareholders and potential investors of the Company are advised to refrain
from taking any action in respect of their shares in the Company which may be prejudicial to
their interests and to exercise caution when dealing in the shares of the Company.
Should be strong cement
come on la. just a company announcement. update those who are vested
Alvin2042 ( Date: 28-Dec-2021 08:11) Posted:
|
Hahaha.
Alvin2042 ( Date: 28-Dec-2021 08:11) Posted:
|
Write in so big font for such a non event.
MakeChanges ( Date: 28-Dec-2021 08:03) Posted:
|
APPOINTMENT OF LIQUIDATOR FOR THE VOLUNTARY WINDING-UP OF A WHOLLY-
OWNED INDIRECT SUBSIDIARY
The Board of Directors of International Cement Group Ltd. (the ' Company' and together with
its subsidiaries, the ' Group' ) wishes to announce that a wh olly-owned indirect subsidiary of
the Company, FacadeMaster Sdn. Bhd. (' FMSB' ) has been placed under creditors&rsquo voluntary
winding-up with effect from 27 December 2021 pursuant to a special resolution passed at the
meeting of members of FMSB. Mr Wan Idris bin Wan Ibrahim has been appointed as the
liquidator of FMSB for the purpose of such creditors&rsquo voluntary winding-up.
The creditors&rsquo voluntary winding-up of FMSB is being undertaken as FMSB is currently
dormant with no business activities. In the interest of administrati ve efficiency and to reduce
administrative costs, the Group had decided to wind-up FMSB.
The creditors&rsquo voluntary winding-up of FMSB is not expected to have any material impact on
the net tangible assets and earnings per share of the Gro up for the fina ncial year ending 31
December 2021.
Save for their respective shareholding interest in the Company (if any), none of t he Directors
or substantial shareholders of the Company have any interest, direct or indirect, in the above
creditors&rsquo voluntary winding-up of FMSB, other than through their respective shareholdings in
the Company.
Construction recovery. Cement high demand