Tuesday, June 19, 2012

Good results for CMS on the back of SCORE and Samalaju

Datuk Richard Curtis
KUCHING: Sarawakian infrastructure facilitator Cahya Mata Sarawak Bhd (CMS) revealed an improvement in the group’s performance for the financial year 2011 (FY11) yesterday on the back of developments in the Sarawak Corridor of Renewable Energy (SCORE) and Samalaju.
The group saw an increase in revenue for FY11 of 7.33 per cent compared with the previous year. This translated to a profit after tax and non-controlling interests to RM120 million, a return on equity growth of three to 8.8 per cent and an earnings per share increase by over 82 per cent.
Other key drivers for the group were the construction and road maintenance division (65.9 per cent increase) and the manufacturing division (27.3 per cent increase), among other divisions.
According to CMS group managing director, Datuk Richard Curtis, “The bedrock for this growth has been our management team’s concerted efforts in recent years to be fully engaged and focused on enhancing the profitability of all our businesses through sound decision making, more customer focus and through building on our core competencies with prudent synergistic investments and acquisitions.”
While the results of FY11 as well as the first quarter of 2012 had been stellar so far, Curtis outlined that these did not yet reflect the full impact of CMS’ transformation process.
“With the state’s infrastructure growth plans, the developments of SCORE underway and our strategic diversification into rising trend industries, 2012 is already showing signs of being another strong year for us.”
While CMS’ core business divisions of construction materials, manufacturing, property
development, construction and road maintenance continued to benefit from Sarawak’s accelerating economic growth, the group’s latest division – the Samalaju development – is poised to grow through the provision of workers’ accommodations and related services in Samalaju as master developer of the new Samalaju township.
Apart from that, CMS would add on to the Samalaju development via its 20 per cent stake in toe 600,000 metric tonne manganese and ferro alloy smelter which was being developed by Australia-based OM Holdings Ltd.
Borneo Post 1/6/2012

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