KUALA LUMPUR (May 25) — Malaysia Smelting Corporation Bhd (KL:MSC) rose on Monday to a record high as analysts scrambled to raise their forecasts amid a jump in earnings. Net income has already accounted for one-third of the consensus full-year forecast, according to Bloomberg data.
The stock climbed as much as 4.2% to RM4.98, surpassing its previous record of RM4.80 set in April 2026. The rally came after the company reported a 45% increase in quarterly profit, driven by higher tin prices and improved operational efficiency.
Analysts from at least three brokerages upgraded their target prices for the stock, citing strong demand for tin from the electronics and renewable energy sectors. The company's tin smelting operations have benefited from supply constraints in major producing regions.
Malaysia Smelting, one of the world's largest tin producers, has seen its shares gain over 30% year-to-date. The company is expected to release its full-year results in August 2026.
