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MALAYAN CEMENT BERHAD — Interim / Quarterly Report 2026
May 27, 2026
70995_rns_2026-05-27_e0ff22f6-17b1-4831-b00c-886f6938038e.pdf
Interim / Quarterly Report
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MALAYAN CEMENT BERHAD
Company No. 195001000048 (1877-T)
Incorporated in Malaysia
Interim Financial Report
31 March 2026
MALAYAN CEMENT BERHAD
Company No. 195001000048 (1877-T)
Incorporated in Malaysia
Interim Financial Report
31 March 2026
| Page No. | |
|---|---|
| Condensed Consolidated Income Statement | 1 |
| Condensed Consolidated Statement of Comprehensive Income | 2 |
| Condensed Consolidated Statement of Financial Position | 3 - 4 |
| Condensed Consolidated Statement of Changes in Equity | 5 - 6 |
| Condensed Consolidated Statement of Cash Flows | 7 - 8 |
| Notes to the Interim Financial Report | 9 - 20 |
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Interim financial report on consolidated results for the financial period ended 31 March 2026.
The figures have not been audited.
CONDENSED CONSOLIDATED INCOME STATEMENT
| Individual Quarter | Cumulative Quarter | |||
|---|---|---|---|---|
| Current Year Quarter | Preceding Year Corresponding Quarter | 9 Months Ended | ||
| 31.03.2026 | 31.03.2025 | 31.03.2026 | 31.03.2025 | |
| RM'000 | RM'000 | RM'000 | RM'000 | |
| Revenue | 1,223,773 | 1,095,245 | 3,701,334 | 3,418,813 |
| Cost of sales | (684,221) | (647,325) | (2,139,109) | (2,168,269) |
| Gross profit | 539,552 | 447,920 | 1,562,225 | 1,250,544 |
| Other operating income | 36,387 | 20,055 | 97,108 | 109,774 |
| Other operating expenses | (204,181) | (178,575) | (622,303) | (535,022) |
| Profit from operations | 371,758 | 289,400 | 1,037,030 | 825,296 |
| Finance costs | (28,106) | (35,629) | (89,133) | (131,478) |
| Share of results of joint venture | 4,210 | 5,416 | 19,256 | 24,447 |
| Profit before tax | 347,862 | 259,187 | 967,153 | 718,265 |
| Taxation | (100,866) | (76,190) | (286,146) | (210,782) |
| Profit for the period | 246,996 | 182,997 | 681,007 | 507,483 |
| Attributable to: | ||||
| Owners of the parent | 246,701 | 182,842 | 680,251 | 506,966 |
| Non-controlling interests | 295 | 155 | 756 | 517 |
| Profit for the period | 246,996 | 182,997 | 681,007 | 507,483 |
| Earnings per share (sen) | ||||
| - Basic | 17.73 | 13.61 | 49.39 | 37.86 |
| - Diluted | 12.85 | 9.75 | 35.77 | 27.08 |
The Condensed Consolidated Income Statement should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
| Individual Quarter | Cumulative Quarter | |||
|---|---|---|---|---|
| Current Year Quarter 31.03.2026 | Preceding Year Corresponding Quarter 31.03.2025 | 9 Months Ended | ||
| RM'000 | RM'000 | RM'000 | RM'000 | |
| Profit for the period | 246,996 | 182,997 | 681,007 | 507,483 |
| Other comprehensive (loss)/income:- | ||||
| Items that may be reclassified subsequently to income statements:- | ||||
| - foreign currency translation differences | (2,590) | 1,500 | (14,293) | (11,752) |
| Other comprehensive (loss)/income for the period, net of tax | (2,590) | 1,500 | (14,293) | (11,752) |
| Total comprehensive income for the period | 244,406 | 184,497 | 666,714 | 495,731 |
| Attributable to: | ||||
| Owners of the parent | 244,111 | 184,342 | 665,958 | 495,214 |
| Non-controlling interests | 295 | 155 | 756 | 517 |
| Total comprehensive income for the period | 244,406 | 184,497 | 666,714 | 495,731 |
The Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| | Unaudited
As at
31.03.2026
RM’000 | Audited
As at
30.06.2025
RM’000 |
| --- | --- | --- |
| ASSETS | | |
| Non-current assets | | |
| Property, plant and equipment | 2,381,642 | 2,327,860 |
| Right-of-use assets | 359,736 | 368,849 |
| Investment properties | 3,107 | 3,110 |
| Intangible assets | 5,552,326 | 5,552,326 |
| Investment in joint venture | 85,015 | 87,848 |
| Investments | 2,431 | 2,431 |
| Deferred tax assets | 86,424 | 154,179 |
| Trade and other receivables | 477 | 1,072 |
| | 8,471,158 | 8,497,675 |
| Current assets | | |
| Inventories | 429,906 | 498,030 |
| Income tax assets | 610 | 13,225 |
| Trade and other receivables | 818,498 | 736,761 |
| Other current assets | 47,239 | 40,268 |
| Amount due from holding companies | 23 | 31 |
| Amount due from related companies | 71,378 | 59,859 |
| Amount due from joint venture | 25,278 | 23,052 |
| Fixed deposits | 1,077,645 | 685,549 |
| Cash and bank balances | 182,317 | 162,744 |
| | 2,652,894 | 2,219,519 |
| TOTAL ASSETS | 11,124,052 | 10,717,194 |
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION - continued
| | Unaudited
As at
31.03.2026
RM'000 | Audited
As at
30.06.2025
RM'000 |
| --- | --- | --- |
| EQUITY | | |
| Share capital | 5,573,381 | 5,460,540 |
| Reserves: | | |
| Foreign currency translation reserve | 15,248 | 29,541 |
| Fair value reserve | 1,792 | 1,792 |
| Share options reserve | 29,253 | 46,122 |
| Retained earnings | 1,716,530 | 1,276,536 |
| Equity attributable to owners of the parent | 7,336,204 | 6,814,531 |
| Non-controlling interests | 4,487 | 4,200 |
| TOTAL EQUITY | 7,340,691 | 6,818,731 |
| LIABILITIES | | |
| Non-current liabilities | | |
| Lease liabilities | 141,903 | 137,640 |
| Borrowings | 2,190,000 | 2,157,402 |
| Deferred tax liabilities | 325,290 | 331,077 |
| Post-employment benefit obligations | 21,052 | 21,746 |
| | 2,678,245 | 2,647,865 |
| Current liabilities | | |
| Trade and other payables | 647,801 | 668,641 |
| Contract liabilities | 1,355 | 2,880 |
| Amount due to holding companies | 5,164 | 2,974 |
| Amount due to related companies | 105,273 | 95,986 |
| Lease liabilities | 5,637 | 12,288 |
| Borrowings | 250,500 | 428,000 |
| Post-employment benefit obligations | 3,379 | 4,981 |
| Income tax liabilities | 86,007 | 34,848 |
| | 1,105,116 | 1,250,598 |
| TOTAL LIABILITIES | 3,783,361 | 3,898,463 |
| TOTAL EQUITY AND LIABILITIES | 11,124,052 | 10,717,194 |
| Net assets per share (RM) | 5.26 | 5.04 |
The Condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2026
| Attributable to Owners of the Parent | Non-controlling interests | Total equity | ||||||
|---|---|---|---|---|---|---|---|---|
| Share capital RM'000 | Foreign currency translation reserve RM'000 | Fair value reserve RM'000 | Share options reserve RM'000 | Retained earnings RM'000 | Total RM'000 | RM'000 | RM'000 | |
| As at 1 July 2025 | 5,460,540 | 29,541 | 1,792 | 46,122 | 1,276,536 | 6,814,531 | 4,200 | 6,818,731 |
| Profit for the financial period | - | - | - | - | 680,251 | 680,251 | 756 | 681,007 |
| Other comprehensive loss | - | (14,293) | - | - | - | (14,293) | - | (14,293) |
| Total comprehensive (loss)/income for the financial period | - | (14,293) | - | - | 680,251 | 665,958 | 756 | 666,714 |
| Dividend paid | - | - | - | - | (240,346) | (240,346) | (469) | (240,815) |
| Issuance of ordinary shares pursuant to exercise of share options | 112,841 | - | - | (16,780) | - | 96,061 | - | 96,061 |
| Share options forfeited | - | - | - | (89) | 89 | - | - | - |
| As at 31 March 2026 | 5,573,381 | 15,248 | 1,792 | 29,253 | 1,716,530 | 7,336,204 | 4,487 | 7,340,691 |
The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2025
| Attributable to Owners of the Parent | Non-controlling interests | Total equity | ||||||
|---|---|---|---|---|---|---|---|---|
| Share capital RM'000 | Foreign currency translation reserve RM'000 | Fair value reserve RM'000 | Share options reserve RM'000 | Retained earnings RM'000 | Total RM'000 | |||
| As at 1 July 2024 | 5,406,881 | 41,589 | 2,158 | 54,598 | 802,435 | 6,307,661 | 4,245 | 6,311,906 |
| Profit for the financial period | - | - | - | - | 506,966 | 506,966 | 517 | 507,483 |
| Other comprehensive loss | - | (11,752) | - | - | - | (11,752) | - | (11,752) |
| Total comprehensive income/(loss) for the financial period | - | (11,752) | - | - | 506,966 | 495,214 | 517 | 495,731 |
| Dividend paid | - | - | - | - | (198,781) | (198,781) | (469) | (199,250) |
| Issuance of ordinary shares pursuant to exercise of share options | 35,759 | - | - | (5,317) | - | 30,442 | - | 30,442 |
| Share options forfeited | - | - | - | (381) | 381 | - | - | - |
| As at 31 March 2025 | 5,442,640 | 29,837 | 2,158 | 48,900 | 1,111,001 | 6,634,536 | 4,293 | 6,638,829 |
The Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2026
| 9 Months Ended | ||
|---|---|---|
| 31.03.2026 | 31.03.2025 | |
| RM'000 | RM'000 | |
| Cash Flows From Operating Activities | ||
| Profit before tax | 967,153 | 718,265 |
| Adjustments for:- | ||
| Amortisation of intangible assets | - | 860 |
| Bad debts written off | 348 | - |
| Compensation gain from compulsory disposal of land | - | (28,847) |
| Depreciation of: | ||
| - investment properties | 3 | 3 |
| - property, plant and equipment | 169,966 | 197,162 |
| - right-of-use assets | 16,616 | 13,792 |
| Dividend income | (38) | (19) |
| Gain on disposal of property, plant and equipment (net) | (4,197) | (6,066) |
| Interest expense | 89,133 | 131,478 |
| Interest income | (16,613) | (17,417) |
| Impairment losses on intangible assets | - | 5,407 |
| Inventories written off | 5 | - |
| Other receivables written off | 221 | - |
| Property, plant and equipment written off | 116 | 3,629 |
| Provision for retirement benefit | 710 | 710 |
| (Reversal of)/ impairment losses on receivables (net) | (310) | 7,056 |
| (Reversal of)/ provision for inventory obsolescence (net) | (3,185) | 6,443 |
| Share of results of joint venture | (19,256) | (24,447) |
| Unrealised loss on foreign exchange (net) | 24,803 | 2,859 |
| Operating profit before changes in working capital | 1,225,475 | 1,010,868 |
| Changes in working capital:- | ||
| Inventories | 71,304 | 17,055 |
| Receivables | (65,143) | (73,543) |
| Other assets | (6,971) | (6,423) |
| Payables | (55,117) | (76,332) |
| Contract liabilities | (1,525) | (2,635) |
| Related parties balances | (2,260) | (29,963) |
| Cash generated from operations | 1,165,763 | 839,027 |
The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2026 - continued
| 9 Months Ended | ||
|---|---|---|
| 31.03.2026 | ||
| RM'000 | 31.03.2025 | |
| RM'000 | ||
| Interest paid | (85,440) | (93,107) |
| Interest received | 16,560 | 17,296 |
| Retirement benefit paid | (1,404) | (863) |
| Income tax paid (net) | (160,350) | (151,711) |
| Net cash generated from operating activities | 935,129 | 610,642 |
| Cash Flows From Investing Activities | ||
| Dividend received | 17,322 | 15,927 |
| Proceeds from compensation on compulsory disposal of land | - | 29,160 |
| Proceeds from net investment in lease | 1,079 | 2,052 |
| Proceeds from disposal of property, plant and equipment | 7,128 | 10,571 |
| Purchase of property, plant and equipment | (226,645) | (140,272) |
| Net cash used in investing activities | (201,116) | (82,562) |
| Cash Flows From Financing Activities | ||
| Dividend paid | (240,346) | (198,781) |
| Dividend paid to non-controlling interests by subsidiary | (469) | (469) |
| Net decrease in restricted cash and cash equivalents | 1,322 | 97,939 |
| Proceeds from borrowings | - | 1,015,000 |
| Proceeds from exercise of share options | 96,061 | 30,442 |
| Repayment of borrowings | (145,000) | (1,408,000) |
| Repayment of lease liabilities | (15,176) | (14,141) |
| Net cash used in financing activities | (303,608) | (478,010) |
| Net changes in cash and cash equivalents | 430,405 | 50,070 |
| Effects of exchange rate changes | (17,414) | (2,456) |
| Cash and cash equivalents at beginning of the financial period | 846,872 | 676,964 |
| Cash and cash equivalents at end of the financial period | 1,259,863 | 724,578 |
| Cash and cash equivalents comprise :- | ||
| Fixed deposits with licensed banks | 1,077,645 | 555,662 |
| Cash and bank balances | 182,317 | 182,527 |
| Restricted cash and cash equivalents | (99) | (13,611) |
| 1,259,863 | 724,578 |
The Condensed Consolidated Statement of Cash Flows should be read in conjunction with the audited financial statements for the financial year ended 30 June 2025 and the accompanying explanatory notes to the interim financial statements.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
A. EXPLANATORY NOTES PURSUANT TO MALAYSIAN FINANCIAL REPORTING STANDARD ("MFRS") 134
The interim financial report should be read in conjunction with the audited financial statements of the Group for the financial year ended 30 June 2025.
A1. Accounting Policies and Methods of Computation
The interim financial report is unaudited and has been prepared in accordance with Malaysian Financial Reporting Standard ("MFRS") 134: "Interim Financial Reporting" and Chapter 9, part K paragraph 9.22 of the Main Market Listing Requirements of the Bursa Malaysia Securities Berhad ("Bursa Securities").
The explanatory notes contained herein provide an explanation of the events and transactions that are significant to the understanding of the changes in the financial position and performance of the Group since the financial year ended 30 June 2025.
The accounting policies and methods of computations adopted by the Group in this interim financial report are consistent with those adopted in the annual audited financial statements for the financial year ended 30 June 2025.
The adoption of MFRSs or amendments to MFRSs which were effective for financial year beginning on or after 1 July 2025 do not have significant financial impact on the Group.
A2. Seasonal or Cyclical Factors
The operations of the Group are closely linked to the construction sector which would normally experience a slow-down in construction activities during the festive seasons in Malaysia and Singapore.
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
A3. Disaggregation of Revenue
| Individual Quarter | Cumulative Quarter | |||
|---|---|---|---|---|
| Current Year Quarter | Preceding Year Corresponding Quarter | 9 Months Ended | ||
| 31.03.2026 | 31.03.2025 | 31.03.2026 | 31.03.2025 | |
| RM'000 | RM'000 | RM'000 | RM'000 | |
| Cement | ||||
| Sales of clinker, cement and other building materials | 790,159 | 758,811 | 2,405,305 | 2,358,831 |
| Others | 1,163 | 1,843 | 4,700 | 5,471 |
| 791,322 | 760,654 | 2,410,005 | 2,364,302 | |
| Aggregates & Concrete | ||||
| Sales of aggregates and ready-mixed concrete | 432,380 | 334,485 | 1,291,088 | 1,054,169 |
| Others | 71 | 106 | 241 | 342 |
| 432,451 | 334,591 | 1,291,329 | 1,054,511 | |
| Total Revenue | 1,223,773 | 1,095,245 | 3,701,334 | 3,418,813 |
A4. Exceptional or Unusual Items
During the current financial quarter, there was no item of an exceptional or unusual nature that affects the assets, liabilities, equity, net income or cash flows of the Group.
A5. Changes in Estimates of Amount Reported
There were no significant changes in estimates of amounts reported in prior interim periods or prior financial years.
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
A6. Changes in Debt and Equity Securities
There was no issuance, cancellation, repurchase, resale and repayment of debts and equity securities during the current financial quarter and financial year to date except for the following:-
For the current financial quarter ended 31 March 2026, 14,421,200 ordinary shares and 40,000 ordinary shares were issued at an exercise price of RM2.29 per share and RM2.25 per share, respectively pursuant to the exercise of employees’ share options granted under the Company’s employees share option scheme. The cumulative number of ordinary shares issued during the financial period ended 31 March 2026 was 41,949,400.
On 31 October 2025, an Islamic Medium Term Notes (“IMTNs”) amounting to RM100 million, bearing a profit rate of 5.42%, was fully repaid.
A7. Dividend Paid
The following dividend payment was made during the financial period ended 31 March 2026:
| RM’000 | |
|---|---|
| In respect of the financial year ended 30 June 2025:- | |
| Second interim dividend of 7 sen per ordinary share paid on 2 October 2025 | 96,004 |
| Second interim dividend of 7 sen per irredeemable convertible preference share paid on 2 October 2025 | 32,667 |
| In respect of the financial year ending 30 June 2026:- | |
| First interim dividend of 6 sen per ordinary share paid on 27 March 2026 | 83,675 |
| First interim dividend of 6 sen per irredeemable convertible preference share paid on 27 March 2026 | 28,000 |
| 240,346 |
A8. Segmental Information
Segment information is presented in respect of the Group’s business segments, which reflect the Group’s internal reporting structure that are regularly reviewed by the Group’s chief operating decision maker for the purposes of allocating resources to the segment and assessing its performance.
For management purposes, the Group is organised into the following operating divisions:
- cement
- aggregates and concrete
Included in Cement Segment of the Group are the Group’s drymix and waste management business.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T))
(Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
A8. Segmental Information (continued)
Analysis of the Group’s segment information is as follows:
| Financial Period Ended 31 March | Cement | Aggregates & Concrete | Elimination | Total | ||||
|---|---|---|---|---|---|---|---|---|
| 2026 RM’000 | 2025 RM’000 | 2026 RM’000 | 2025 RM’000 | 2026 RM’000 | 2025 RM’000 | 2026 RM’000 | 2025 RM’000 | |
| External revenue | 2,410,005 | 2,364,302 | 1,291,329 | 1,054,511 | - | - | 3,701,334 | 3,418,813 |
| Inter-segment revenue | 446,326 | 376,173 | - | - | (446,326) | (376,173) | - | - |
| Total revenue | 2,856,331 | 2,740,475 | 1,291,329 | 1,054,511 | (446,326) | (376,173) | 3,701,334 | 3,418,813 |
| Segment results | ||||||||
| Profit from operations | 879,119 | 715,394 | 157,911 | 109,902 | - | - | 1,037,030 | 825,296 |
| Finance costs | (89,133) | (131,478) | ||||||
| Share of results of joint venture | 19,256 | 24,447 | ||||||
| Profit before tax | 967,153 | 718,265 | ||||||
| Finance costs | 89,133 | 131,478 | ||||||
| Depreciation and amortisation | 186,585 | 211,817 | ||||||
| EBITDA | 1,242,871 | 1,061,560 |
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
A9. Valuation of Property, Plant and Equipment
There was no revaluation of property, plant and equipment brought forward from the previous audited financial statements as the Group does not adopt a revaluation policy on its property, plant and equipment.
A10. Changes in Group Composition
There was no change in the composition for the Group in this financial quarter.
A11. Contingent Liabilities
The Group has no material contingent liabilities as at the date of this report.
A12. Subsequent Events
There were no items, transactions or event of material or unusual in nature during the period from the end of the quarter under review to the date of this report.
A13. Commitments
Outstanding commitments in respect of capital commitments at end of reporting date not provided for in the financial statements are as follows:
| | As at
31.03.2026
RM’000 |
| --- | --- |
| In respect of capital expenditure: | |
| Approved and contracted for | 65,568 |
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
B. EXPLANATORY NOTES PURSUANT TO APPENDIX 9B OF THE LISTING REQUIREMENTS OF BURSA SECURITIES
B1. Review of Group's Performance
| Individual Quarter | Variance | Cumulative Quarter | Variance | |||
|---|---|---|---|---|---|---|
| 31.03.2026 | 31.03.2025 | % | 31.03.2026 | 31.03.2025 | % | |
| RM'000 | RM'000 | +/- | RM'000 | RM'000 | +/- | |
| Revenue | 1,223,773 | 1,095,245 | 12 | 3,701,334 | 3,418,813 | 8 |
| Profit before tax | 347,862 | 259,187 | 34 | 967,153 | 718,265 | 35 |
The Group revenue for the current financial quarter increased to RM1,223.8 million from RM1,095.2 million recorded in the preceding year corresponding quarter, contributed by higher turnover in the ready-mixed concrete and drymix divisions, which was driven by increased demand for high-grade, bespoke ready-mixed concrete products.
The Group recorded a higher profit before tax of RM347.9 million in the current financial quarter, compared to RM259.2 million in the preceding year corresponding quarter. The improved performance was mainly driven by continued rigorous cost management and operational efficiency initiatives, including the increased adoption of renewable energy and waste heat recovery plants, optimisation of advance technological systems, and lower operational and maintenance costs, despite higher transportation costs due to statutory legislation and elevated fuel prices in the market.
For the current nine-month period under review, the Group revenue increased to RM3,701.3 million from RM3,418.8 million recorded in the preceding year corresponding period and profit before tax increased to RM967.2 million from RM718.3 million for the same reasons stated above.
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
B2. Comparison with Preceding Quarter
| Current Quarter 31.03.2026 RM’000 | Preceding Quarter 31.12.2025 RM’000 | Variance % +/- | |
|---|---|---|---|
| Revenue | 1,223,773 | 1,262,205 | -3 |
| Profit before tax | 347,862 | 329,786 | 5 |
| Profit after tax | 246,996 | 233,282 | 6 |
The Group revenue for the current financial quarter was stable at RM1,223.8 million, compared to RM1,262.2 million recorded in the preceding quarter, on the back of lower construction activities during the festive period in the current quarter.
The Group reported a profit before tax of RM347.9 million for the current quarter, up from RM329.8 million recorded in the preceding quarter. The improvement was mainly attributable to lower operational and maintenance costs partially offset by higher fuel, electricity and raw material costs due to the increase in market prices.
B3. Audit Report of the Preceding Financial Year Ended 30 June 2025
The Auditors’ Reports on the financial statements for the financial year ended 30 June 2025 did not contain any qualification.
B4. Prospects
Cement demand is expected to remain satisfactory over the medium to long term, supported by sustained industrial and commercial construction activity and key infrastructure initiatives including the Johor-Singapore Special Economic Zone (JS-SEZ), as well as the demand driven by Malaysia’s young and urbanizing population. However, in the near term, uncertainties arising from a potential prolonged conflict in the Middle East will drive up energy prices, construction material costs and freight costs which could eventually slow down the construction activities and have a knock-on effect on cement demand. Fuel and freight costs are also key inputs in cement production and distribution, and their volatility may exert upward pressure on cement production cost.
Despite the global economic and ongoing geopolitical uncertainties and inflationary pressures, the Group remains cautiously optimistic and is committed to pursuing further efficiencies across its operations, logistics and distribution network. The Group’s strategically located plants and integrated logistics network are well positioned to meet demand from domestic and overseas market while managing logistical challenges and rising cost pressures.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
B5. Profit Forecast
The Group did not issue any profit forecast or profit guarantee during the current financial quarter.
B6. Profit for the period
| Current Quarter 31.03.2026 RM’000 | Year To Date 31.03.2026 RM’000 | |
|---|---|---|
| Profit for the period is stated after charging/(crediting): | ||
| Bad debts recovered | (11) | (65) |
| Bad debts written off | - | 348 |
| Depreciation of: | ||
| - investment properties | 1 | 3 |
| - property, plant and equipment | 57,524 | 169,966 |
| - right-of-use assets | 5,546 | 16,616 |
| Dividend income | (11) | (38) |
| Gain on disposal of property, plant and equipment (net) | (3,161) | (4,197) |
| Hiring income | (10,163) | (28,019) |
| Impairment loss/(Reversal of impairment) on receivables (net) | 122 | (310) |
| Interest income | (5,589) | (16,613) |
| Inventories written off | - | 5 |
| Other receivables written off | - | 221 |
| Property, plant and equipment written off | (49)* | 116 |
| Provision for retirement benefit | 237 | 710 |
| Realised gain on foreign exchange (net) | (4,630) | (13,196) |
| Reversal of provision for inventory obsolescence (net) | (1,734) | (3,185) |
| Unrealised loss on foreign exchange (net) | 6,500 | 24,803 |
- The negative property, plant and equipment written off was due to the reclassification of a portion of amounts recognised in previous quarters to gain/loss on disposal of property, plant and equipment.
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
B7. Taxation
Taxation comprise the following:
| Current Quarter 31.03.2026 RM’000 | Period To Date 31.03.2026 RM’000 | |
|---|---|---|
| Tax expense in respect of current period: | ||
| - Income tax | 86,420 | 224,145 |
| - Deferred tax | 14,446 | 62,001 |
| Total tax expense | 100,866 | 286,146 |
The effective tax rate for the current financial quarter ended 31 March 2026 was higher than the Malaysian statutory tax rate of 24% mainly due to the derecognition of deferred tax assets in respect of tax losses carried forward in certain subsidiaries and non-deductibility of certain interest expense of the Company.
B8. Status of Corporate Proposals Announced
There were no corporate proposals announced by the Company which are not completed as at the date of this report.
B9. Group Borrowings
The Group borrowings as at 31 March 2026 are as follows:
| Secured RM’000 | Unsecured RM’000 | Total RM’000 | |
|---|---|---|---|
| Current | |||
| Revolving credit | 52,500 | 198,000 | 250,500 |
| Bonds | - | - | - |
| 52,500 | 198,000 | 250,500 | |
| Non-current | |||
| Revolving credit | 135,000 | - | 135,000 |
| Bonds | - | 2,055,000 | 2,055,000 |
| 135,000 | 2,055,000 | 2,190,000 | |
| Total Group Borrowings | 187,500 | 2,253,000 | 2,440,500 |
All borrowings are denominated in Ringgit Malaysia.
MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
B10. Fair Value Hierarchy
The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:
(i) Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.
(ii) Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices).
(iii) Level 3: Inputs for the asset or liability that are not based on observable market data (unobservable inputs).
At the reporting date, the Group held the following financial instruments carried at fair value on the statement of financial position:
| | Level 1
RM'000 | Level 2
RM'000 | Level 3
RM'000 | Total
RM'000 |
| --- | --- | --- | --- | --- |
| 31 March 2026 | | | | |
| Assets | | | | |
| Financial assets at fair value through other comprehensive income | 474 | - | 1,957 | 2,431 |
B11. Material Litigation
There was no material litigation pending as at the date of this report.
B12. Dividend
No dividend has been declared for the current financial quarter.
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
B13. Earnings per share
(i) Basic earnings per share
The basic earnings per share of the Group has been computed by dividing the net profit attributable to owners of the parent for the financial quarter/period by the weighted average number of ordinary shares in issue during the financial quarter/period as set out below:
| Individual Quarter | Cumulative Quarter | |||
|---|---|---|---|---|
| Current Year Quarter 31.03.2026 | Preceding Year Corresponding Quarter 31.03.2025 | 9 Months Ended 31.03.2026 | 31.03.2025 | |
| Profit attributable to owners of the parent (RM’000) | 246,701 | 182,842 | 680,251 | 506,966 |
| Weighted average number of ordinary shares (‘000) | 1,391,255 | 1,343,819 | 1,377,425 | 1,339,110 |
| Basic earnings per share (sen) | 17.73 | 13.61 | 49.39 | 37.86 |
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MALAYAN CEMENT BERHAD (Company No. 195001000048 (1877-T)) (Incorporated in Malaysia)
INTERIM FINANCIAL REPORT
Notes – Continued
B13. Earnings per share (continued)
(ii) Diluted earnings per share
The diluted earnings per share of the Group has been computed by dividing the net profit attributable to owners of the parent for the financial quarter/period by the adjusted weighted average number of ordinary shares in issue during the financial quarter/period as set out below:
| Individual Quarter | Cumulative Quarter | |||
|---|---|---|---|---|
| Current Year Quarter 31.03.2026 | Preceding Year Corresponding Quarter 31.03.2025 | 9 Months Ended 31.03.2026 | 31.03.2025 | |
| Profit attributable to owners of the parent (RM’000) | 246,701 | 182,842 | 680,251 | 506,966 |
| Weighted average number of ordinary shares (‘000) | 1,391,255 | 1,343,819 | 1,377,425 | 1,339,110 |
| Effect of conversion of ICPS to ordinary shares (‘000) | 466,667 | 466,667 | 466,667 | 466,667 |
| Effect of unexercised employees’ share option scheme (‘000) | 61,699 | 63,929 | 57,599 | 66,485 |
| 1,919,621 | 1,874,415 | 1,901,691 | 1,872,262 | |
| Diluted earnings per share (sen) | 12.85 | 9.75 | 35.77 | 27.08 |
Total cash expected to be received in the event of an exercise of all outstanding employees’ share options is RM167.5 million. Accordingly, the Net Asset (“NA”) on a proforma basis at the end of the current quarter will increase by RM167.5 million whilst NA per share will decrease by RM0.15. In arriving at the diluted earnings per share, NA and NA per share, no income has been accrued for the cash proceeds.
By Order of the Board
HO SAY KENG
Secretary
Kuala Lumpur
Dated: 28 May 2026