Displaying items by tag: CMS

Malaysia: Cahya Mata Sarawak (CMS) has responded positively to the government’s announcement that it will be subdividing its annual contracts for road maintenance between new concessionaries besides CMS’s 51% subsidiary PPES Works in 2020. “Competition in any market naturally breads competitive efficiency. This can only be good for the public and road users,” said CMS Group Managing Director Isaac Lugun. “We maintain the lion’s share,” he added.

Malaysia: Cahya Mata Sarawak’s (CMS) sales from its cement division rose by 7% year-on-year to US$137m in 2019 from US$128m in 2017. Its operating profit fell by 11% to US$22.2m from US$24.9m. CMS attributed the drop in profit on repair costs from maintenance to its integrated plant at Kuching. Rising international clinker prices were also blamed.

Malaysia: Cahya Mata Sarawak’s (CMS) cement division profits have fallen so far in 2018 due to planned maintenance shutdown at its integrated plant and rising clinker prices. Its profit before tax dropped by 14% to US$16.7m in the first nine months of 2018 from US$19.6m in the same period in 2017. The division’s performance was also hit by an increase in the price of imported clinker. The company said that this occurred due to a spike in global demand, following the reduction of clinker production in China and continued high demand for clinker especially from Bangladesh and the Philippines. Overall, CMS’ sales revenue and profit have risen so far in 2018.

Malaysia: Cahya Mata Sarawak (CMS) has launched a new Portland Limestone Cement (PLC) product. The 32.5N strength product is targeted for low-rise concrete structures such as single storey residential, office and commercial buildings. It is also intended for plastering, bricklaying and for use in the construction of drains and rural or kampong roads. CMS has also been conducting trials with Universiti Malaysia Sarawak (UNIMAS) on testing it as a binder for soil stabilisation. The new cement type will compliment CMS’ existing Portland Cement 42.5N product.

CMS operates one integrated cement plant and two grinding plants. Both grinding plants, at Pending in Kuching and Bintulu, have direct access to ports allowing entry to export markets for bagged and bulk product. The state-owned cement producer also operates two bulk marine terminals at Sibu and Miri.

Malaysia: Repair costs at Cahya Mata Sarawak’s (CMS) Kuching cement plant have reduced the profits of the company’s cement division. The planned maintenance period in January and February 2018 was the first major shutdown carried out by the group since it purchased the integrated unit in 2007. The division’s performance was also hit by an increase in the price of imported clinker due to a reported ‘tight supply’ in the international market. The division’s profit before tax fell by 17% year-on-year to US$9.56m in the first half of 2018 from US$11.5m in the same period in 2017. However, its revenue grew by 8%.

Overall, CMS reported revenue growth of 15% to US$183m and a pre-tax profit increase of 32% to US$42.9m. It attributed the strong performance to its other subsidiaries.

Malaysia: Isaac Lugun and Goh Chii Bing have taken their new roles at Cahya Mata Sarawak (CMS) as Group Chief Executive Officer – Corporate and Group Chief Executive Officer – Operations respectively. They replace Richard Curtis who retired as Group Managing Director at the end of December 2017. Curtis will remain at the cement producer as a Non-Executive Director until the end of 2018.