Stay abreast with the latest happenings in Cahya Mata Sarawak Berhad.

CMSPD CNY 2018 Ad_media

CMS Property Development Ushers in Lunar New Year with Open House Extravaganza

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Kuching (Sarawak), Wednesday, 14 February 2018 – Sarawak Developer CMS Property Development Sdn Bhd is inviting the public to its Chinese New Year Open House on 18 and 19 February, starting from 10.00am to 5.00pm to celebrate this auspicious occasion at the Rivervale Condominium’s clubhouse. Everyone will be entertained to an acrobatic lion dance performance on the first day, plus an array of delicious food will be served.

The overall concept of the Rivervale Condominium is to provide a lush sanctuary with lifestyle facilities and open spaces, allowing residents to relax and unwind within a gated and guarded environment, and on top of that offering comfort and security. The condominium comprises two 14-storey residential towers. Visitors are also welcome to view the condominium’s five different types of show-units and a tour of the new clubhouse and its facilities, which include a jacuzzi, swimming pool, children’s pool, pool deck, gazebo, playground, sitting terrace and open garden located at the podium area.

Rivervale Condominium offers excellent connectivity and accessibility. It can be conveniently accessed via Jalan Setia Raja, Jalan Stutong Baru, Jalan Stutong, Jalan Canna and the Kuching-Samarahan Expressway. It is also close to educational institutions, such as SJK Chung Hua No. 2, Lodge International School, SMK Tabuan Jaya, Borneo International School and iCATS. Prominent shopping malls like Vivacity Megamall, CityONE Megamall, The Spring Shopping Mall and Giant Hypermarket, are all located within 4km of the condominium. Similarly, medical institutions like KPJ Kuching Specialist Hospital and Borneo Medical Centre are also located within 4km of Rivervale Condominium. Price starts from RM408,888.00 per unit.

For further information, please contact our sales team – Aaron (019-858 1666), Alice (012-248 3958), Charlotte (012-808 5055), Dylan (012-235 9518) or Melissa (012-828 8119).

CMSPD CNY 2018 Ad

Miri-Marudi Photo_media

Miri-Marudi Road upgrading works ahead of schedule with 41.5% of upgrades forecast for completion by Chinese New Year

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Kuching (Sarawak), Friday, 19 January 2018 – Following a courtesy call made to YB Datu Dr. Penguang Manggil, Assistant Minister of Local Government at his office today, to update him on the on-going Miri-Marudi Road upgrading works, CMS Roads Sdn Bhd have confirmed that the upgrading of the 43.2km road connecting Miri to Marudi is progressing well ahead of its original 30-month schedule. By 25 December 2017, the road upgrading was scheduled to be 27.98% complete, but stands at 35.67% complete – the equivalent of 7.69% ahead of schedule – and the upgrading of the road which is JKR Sarawak (R1) standard. CMS Roads is targeting road upgrading works completion of 41.5 % by Chinese New Year (CNY) to help ensure smooth passage for commuters as they celebrate the Lunar New Year.

To make commuters’ passage of the road as smooth as possible over the CNY period, CMS Roads is compacting subgrade and laying a stone base from the ferry end of the road with an additional 1km expected to be completed by CNY. CMS Roads is assuring the public that they are ‘pulling out all the stops’ to make sure road users can make the road journey with as little inconvenience as possible.

The road upgrading began on 15 September 2016, and in view of the extensive public interest in the upgrading of this road link due to its unsatisfactory condition and growing importance, CMS Roads volunteered in March 2017 to provide quarterly updates on the project’s progress.

At today’s meeting with CMS Roads, YB Datu Dr. Penguang Manggil appealed to CMS Roads to do all it can to make the road passable to traffic especially for CNY as more people are travelling back to Marudi. He said: “I appreciate that the upgrading of the road is ahead of contractual schedule, but I urge CMS Roads to do whatever is necessary to make it passable during the current rainy season, especially during the CNY celebration. It is the only access during this peak travel period as air access is limited and express boat service has ceased operations.”

Speaking about the fourth update of the upgrading, Mr Goh Chii Bing, CMS Group Chief Executive Officer – Operations, commented: “We are pleased to report that notwithstanding the many challenges ranging from the road’s challenging geographical location in terms of getting materials in, weather and the need to keep the road open to users as much as possible whilst works are underway, we are still well ahead of schedule, contractually. In carrying out and exceeding the project targets, we have carefully considered the different type of vehicles that access the road and their impact on the road’s development and upgrading. After 15 months since the project’s commencement, the focus remains on expediently providing long-lasting upgrades to the road so it’s safe and fit-for-purpose for those who travel between Miri and Marudi. We are also mindful of the increase in road users over the CNY period – and the recent bad weather – and so we wish to reassure Miri-Marudi road users that all efforts are being made to minimise delays to ensure smooth passage throughout the CNY period.”

Status updates for the project as at 25 December 2017:

  • Scheduled Physical Progress of Road Upgrading: 27.98%
  • Actual Physical Progress: 35.67%
  • Ahead of Schedule by 7.69%
  • Premix Surfacing Completed: 15.83 km
  • Completed Road Base (up to 1st layer): 31.20 km
  • Reinforced Concrete Pipe Culverts: 17 completed out of 21
  • JKR and Lands & Survey Department assisting with outstanding land matters. However, CMS Roads have been given permission by the land owners to proceed with the works on the affected sections of the road and works are progressing.

CMS Roads’ next planned update on this project is scheduled for Q2 2018.

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Dato’ Richard Curtis, Group Managing Director of CMSB retires from his current role with Dato Isaac Lugun and Goh Chii Bing taking over the helm

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Kuching (Sarawak), Friday, 29 December 2017 – Cahya Mata Sarawak Berhad (CMSB) today confirmed that Dato’ Richard Curtis will retire from his position as Group Managing Director on 31 December 2017 and will remain as a Non-Independent Non-Executive Director on the CMSB Board and several of its subsidiary companies until 31 December 2018. Further to this change in the boardroom, is the re-designation of Dato Isaac Lugun to Group Chief Executive Officer – Corporate and the re-designation of Mr Goh Chii Bing to Group Chief Executive Officer – Operations who were both appointed to their current positions on 1 August 2017.

Y A M Tan Sri Dato’ Seri Syed Anwar Jamalullail, CMSB’s Group Chairman, said: “On behalf of everyone at CMS, I would like to thank Dato’ Richard for his stewardship and commitment to the company for over 11 years. Dato’ Richard’s legacy will be his pioneering leadership and the transformational role he played in implementing the company’s long-term strategic plan to expand and diversify CMSB’s business portfolios, notwithstanding challenging global economic pressures, which has enabled our businesses to grow and prosper. The continuity plan we have installed, which includes the retention of Dato’ Richard as a Non-Independent Non-Executive Director, will ensure the company’s smooth and undisturbed transition as it meets new challenges and achieves new milestones.

“It is this high performing team that Dato Isaac Lugun and Mr Goh Chii Bing will take over on 1 January 2018 as Group Chief Executive Officer – Corporate and Group Chief Executive Officer – Operations, respectively. Between them, Dato Isaac and Mr Goh have over 45 years’ experience with CMSB, with both having worked closely with Dato’ Richard to deliver on our unprecedented decade of growth. This intimate understanding of CMSB’s businesses, shared belief in the company’s direction, proven track-record and profound business acumen should serve to reassure all our stakeholders that our continued trajectory as a high performing will not be disrupted.”

Speaking about his tenure as Group Managing Director of CMSB, Dato’ Richard Curtis, said: “Our transformation over the last 11 years to become a company firmly ranked in the top 100 Bursa listed companies with steadily upward trending profits growth, resilience in the face of headwinds and an exciting portfolio of businesses strategically focused on the Sarawak Growth Story, has been well documented. What I personally look back on with pride is that amongst these achievements has been an enhanced commitment to our stakeholders, namely our staff, shareholders, customers and especially our community. This has involved a holistic approach to our businesses ensuring we work as a respectful ally to the State to support its development. We have sought always to take both a long-term view in our strategies and to operate as a values-based company in what we do, whether it involves sustainable business practises, the environment, CSR activities, innovation or investing for the future, such as we did with our new cement plant and terminals. A heartfelt personal thank you must also go to our amazing employees, many of whom have been with us over 30 years, and to everyone who has been a part of our CMSB journey to date. As our new leadership team takes on the mantle of steering CMSB onwards and upwards, I am optimistic and excited about the potential of both CMSB and of Sarawak in the future.”

Cahya Mata Sarawak Berhad has evolved from a single product manufacturer of cement beginning in 1974 to become a corporation focused on its Vision “To be the PRIDE of Sarawak & Beyond.” Today, the company’s portfolio spans over 35 companies involved in cement manufacturing, construction materials, trading, construction, road maintenance, property development, financial services, smelting, telco infrastructure, education and services.

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CMS supports ‘Sarawak Pay’ with RM50 cashback for its Employees

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Kuching (Sarawak), Monday, 4 December 2017 – Sarawakians can now pay their utility bills with the recent launch of ‘Sarawak Pay’ state-wide. Chief Minister Datuk Patinggi Abang Johari Tun Openg is optimistic that this digital payment system will make life easier and more convenient for its citizens to make bill payments with the various Government agencies and Cahya Mata Sarawak (CMS) will be amongst the first companies in Sarawak to promote ‘Sarawak Pay’ to its employees.

With the launch of ‘Sarawak Pay’ on 1 November 2017, the Chief Minister said that it will serve as a channel for Sarawakians to pay for their bills through their smartphones as going cashless or having an ‘e-wallet’ is the ‘in-thing’ for us to do online transactions.

Bank Negara Malaysia had on 25 November, increased the maximum balance of the e-wallet (Sarawak Pay) from RM200.00 to RM3,000.00. People now can download the ‘Sarawak Pay’ app and register on their smartphone.

To support the State Government’s efforts in promoting this app, CMS will reimburse RM50.00 to all its staff, totaling over 2,500 people within Sarawak who register on Sarawak Pay. Dato’ Richard Curtis, Group Managing Director of CMS, said: “CMS prides itself on being at the heart of the communities it serves, and being actively supportive of new digital initiatives such as this will enhance the lives of Sarawakians and the development of the State.”

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CMSB’s pre-tax profit reported at RM231 million

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Kuching (Sarawak), Wednesday, 29 November 2017 – Cahya Mata Sarawak Berhad (CMSB – 2852), the State’s leading infrastructure facilitator, is pleased to announce its financial performance for the first nine months of 2017 (PE2017). The Group reported a pre-tax profit (PBT) of RM231.02 million for PE2017, exceeding the preceding year’s corresponding period’s (PE2016) PBT of RM160.41 million by 44%. This was largely attributable to increased efficiencies and productivity within the Cement Division, reflecting the Group’s unrelenting focus towards its operations, and to improved sales within the Property Development Division. The increase in the Group’s PBT was despite an 8% decrease in its revenue of RM1.02 billion for PE2017, in comparison to PE2016’s revenue of RM1.10 billion. The decline was mainly due to lower sales volumes in the Construction Materials & Trading and Cement Divisions. The Construction & Road Maintenance Division also reported lower revenue due to reduced federal road maintenance work and due to the completion of major projects in 2016.

Furthermore, the Group’s profit after tax and non-controlling interests (PATNCI) also increased by 121% to RM149.43 million in PE2017, from RM67.66 million in PE2016. Earnings per share stood at 13.91 sen versus 6.30 sen from the corresponding nine-month period of last year.

The main contributors towards the earnings for PE2017 were the Cement, Construction & Road Maintenance, Construction Materials & Trading and the Property Development Divisions. The Cement Division reported a PBT of RM82.16 million for PE2017, exceeding PE2016’s PBT of RM76.98 million by 7% attributable to lower handling costs, cheaper imported clinker and lower clinker production costs due to both stable production and lower coal prices. Moreover, with the commissioning of the Integrated Cement plant in Mambong, the Group’s cement sales are no longer required to be supported by imports.

The Construction & Road Maintenance Division recorded a PBT of RM55.12 million in PE2017 – a 4% decrease in comparison to PE2016’s PBT of RM57.61 million – as a result of a reduction in the road length maintained due to the construction of the Pan Borneo Highway project. The Construction Materials & Trading Division reported a PBT of RM52.14 million for PE2017, 30% lower than the PBT of RM74.65 million reported during PE2016. This was mainly attributable to lower sales due to slower implementation of Government projects during the first half of the year.

The Property Development Division reported a PBT of RM29.28 million during PE2017, an increase of 190% in comparison to PE2016’s PBT of RM10.11 million. This was mainly due to the revenue recognition of the Rivervale housing project and, additionally, improved sales of residential properties generally and the rental income from a hypermarket in Bandar Samariang.

The Group also recorded a higher share of profit of RM25.85 million in PE2017 from the share of results of its joint-ventures in comparison to PE2016’s profit contribution of RM8.04 million. The increase was mainly attributable to the excellent performances by CMS Opus Private Equity Sdn Bhd and two private equity funds.

Furthermore, CMSB recorded profit of RM12.63 million in PE2017 from the share of results of its associates, a significant improvement by 131% in comparison to PE2016’s losses of RM40.49 million. This is largely due to the Group’s 25% associate, OM Materials (Sarawak) Sdn Bhd’s improved performance. Its performance levels are expected to continue to improve as the plant is ramping up towards full production and its market sectors are observing demand growth and price improvements.

Commenting on the results, Dato’ Richard Curtis, Group Managing Director of CMSB, said: “The first nine-months of 2017 has been an important phase in terms of meeting performance against targets, despite the challenging market and operational conditions faced by our Group. These macro factors were generally the sluggish regional private and public sectors resulting in reduced demand for construction materials and related services. Despite the challenges, the Group recorded significant achievements, namely, by its Cement, Construction & Road Maintenance, Construction Materials & Trading and Property Development Divisions. Overall, the results for the first nine-months of this year are viewed positively as they provide reassurance that the Group is on track towards achieving a very much-improved performance for its FY2017 financial results as against FY2016.

“This confidence in our prospects is supported by our healthy balance sheet, our focused portfolio of core business Divisions and our prudent succession planning as CMSB ushers into a new era of leadership. We strongly view that we are well positioned to benefit from the State’s ever-growing infrastructure needs, including the RM27.0 billion Pan Borneo Highway project, which is now gathering momentum. Furthermore, the 2017-2018 growth projections for the Malaysian economy and the continued focus on infrastructure related projects and services in Sarawak in both the Federal and the State budgets, bodes well for our businesses. Looking further to the future, CMSB’s potential high-growth investments in its associate companies, including SACOFA Sdn Bhd, and OM (Sarawak) Sdn Bhd, are expected to materially transform our longer-term profits growth.

“We believe that CMSB continues to be one of the best proxy listed investments for Sarawak’s economic growth. This is consistent with the State’s promotion of energy-intensive industries under the Sarawak Corridor for Renewable Energy (SCORE) initiative, its rural transformation plans, its focus towards establishing a digital economy and the infrastructure and related services that will therefore be required across the State. These various drivers, which reflect CMSB’s business focuses, are set to propel the State’s economy and CMSB to new heights in the long term,” added Dato’ Richard Curtis.