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At a simple ceremony in Kuala Lumpur on 30 August 2007, CMS Cement Sdn Bhd signed a share purchase agreement to buy 100% equity in Sarawak Clinker Sdn Bhd, 33% from Mirzan Mahathir and 67% from Maybach Investment Co., which was represented by Raymond Ang of the Philippines-based conglomerate, San Miguel Group. The decision to buy Sarawak Clinker Sdn Bhd […]
Following several months of negotiations with potential bidders for its 32.8% stake in Rashid Hussain Bhd (RHB), a CMS subsidiary, Utama Banking Group (UBG) announced on 8 March 2007 that its Board had accepted a revised offer of RM2.25 billion from the EPF (Employees Provident Fund), subject to shareholder and regulatory approvals. This resulted in a net gain […]
During the course of 1999, 2000, and 2001, in line with Bank Negara’s policy of consolidating Malaysia’s banking industry, CMS subsidiary, Utama Banking Group (UBG) took part in merger proposal negotiations. The first prospective partner was PerwiraAffin Bank Bhd, but this did not materialise. The second was Arab Malaysian Bank Berhad (AMBB), with whom UBG went to the extent of signing […]
The financial services business was one that had then complemented the Group’s banking business. This business unit was restructured after the merger of CMS Capital Sdn Bhd and K&N Kenanga Holdings Berhad. Previously, CMS Capital Sdn Bhd was the holding company of Sarawak Securities Sdn Bhd (SSSB) and Sarawak Securities Futures Sdn Bhd; SSSB was the first licenced stockbroker in Sarawak […]
On 26 December 2000, CMS Capital Sdn Bhd entered into an exchange agreement with Peninsular Malaysia-based stockbroker K&N Kenanga Holdings Berhad to transfer CMS’ securities and futures business to K&N Kenanga in return for shares in K&N Kenanga. CMS’ subsidiaries Sarawak Securities Sdn Bhd and Sarawak Securities Futures Sdn Bhd were sold to K&N Kenanga in August 2001. The merger […]
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