Displaying items by tag: Cahya Mata Sarawak

Malaysia: Cahya Mata Sarawak has appointed China-based Sinoma Industry Engineering to provide technical consultancy services for an expansion and upgrade at its Kuching cement plant. Bernama Daily Malaysian News has reported that Sinoma Industry Engineering will help the producer to upgrade the plant’s 1Mt/yr Line 1 and build its planned 1.9Mt/yr Line 2.

Malaysia: Norway-based Norges Bank has bought a 5% stake in Cahya Mata Sarawak, Bernama Daily Malaysian News has reported.

The bank said “Norges Bank's mission is to promote economic stability and manage substantial assets on behalf of the Norwegian people.” It added “As part of its investment strategy for the Government Pension Fund Global, Norges Bank seeks to optimise returns within the framework of its investment mandate.”

Malaysia: Cahya Mata Sarawak has informed its customers that its cement despatches will be 'back to normal' by 6 November 2022. The producer's closure of its 1Mt/yr Kuching cement plant for maintenance, followed by unexpected raw materials supply issues, has caused a shortage of cement in western Sarawak State. Bernama Daily Malaysian News has reported that a 14-day delay to raw materials deliveries to the Kuching plant ensued due to heavy rains.

The producer said “We would like to apologise for the shortage of cement, and will strive to ensure a steady supply of cement to all of our customers.”

Cahya Mata Sarawak has successfully maintained regular supply of cement to other areas of Sarawak, including Bintulu, Miri and Sibu, through despatches of cement from its Bintulu grinding plant.

Malaysia: Cahya Mata Sarawak says that it has no plan to double the capacity of its Bintulu, Sarawak, grinding plant, Reuters News has reported. The company, however, noted the potential ‘opportunity’ offered by the construction of a new Indonesian capital in Nusantara, East Kalimantan, on the opposite side of Borneo.

Malaysia: Cahya Mata Sarawak recorded a profit of US$8.72m in the first half of 2020, down by 63% year-on-year from US$23.4m in the first half of 2019. Total sales declined by 40% to US$117m from US$196m. Cement sales also declined, by 31% to US$46.8m from US$68.1m. The company attributed this to the impacts of the coronavirus lockdown.

Malaysia: Cahya Mata Sarawak (CMS) has reported a first quarter profit of US$4.04m, down by 64% year-on-year from US$11.4m in 2019. Sales fell by 32% to US$65.9m from US$97.6m. The company said, “Ordinarily, there is a lower level of activity in the first quarter;” however it predicted a 50% year-on-year profit drop for its cement division in the first half of 2020. It said that it expects its construction materials and trading division’s performance to “pick up and remain strong” in the second half of 2020.

Malaysia: Following 12 months of graduated succession plan implementation, Cahya Mata Sarawak (CMS) is ready for the retirement of Group Executive Director Ahmad Alwee Alsree Datuk Syed. CMS chairman Tan Sri Abdul Rashid Bin Abdul Manaf accepted Datuk Syed’s retirement with an outpour of thanks for his ‘immeasurable contributions over 15 years of loyal and faithful service.’ All of Datuk Syed’s roles have now passed to successors within the company, with Isaac Lugun Dato taking over as group managing director.

Malaysia: Cahya Mata Sarawak (CMS)’s cement division has reported a net profit of US$19.5m in the six months to 30 June 2019, down by 37.1% from US$31.0m in the same period of 2018. The company’s total first half revenue rose by 8.9% to US$194m from US$178m in 2018.

In its financial statement, CMS blamed the cement profit slump on rising clinker import prices and the cost of fuel for its coal-fired cement plants. CEO Datuk Isaac Lugun has expressed hope for the group’s longer-term prospects due to its competitive power pricing and strong global presence.

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.