Unaudited 1Q15 results
Malaysia’s Cahya Mata Sarawak Berhad (CMSB) has released its unaudited results for 1Q15. The group achieved a revenue of RM491 million, up 32% y/y. Pre-tax profit (PBT) also improved, rising from RM66.19 million in 1Q14 to RM95.01 million in 1Q15. Profit after tax and non-controlling interests grew by 48% y/y to RM57.42.
The Cement Division saw its PBT increase by 44% from RM20.44 in 1Q14 to RM29.37 in 1Q15. CMSB’s Construction Materials and Trading Division reported a 145% y/y rise in PBT to RM30.32.
“This has been an important quarter for us in terms of taking advantage of strong local demand for our products and services so as to record better than expected results which is a credit to our management team. Significant achievements have been recorded namely by the Construction Materials and Trading, Cement and Construction and Road Maintenance Divisions. With commendable performance recorded in 1Q15, we expect to leverage on this positive momentum and record a strong financial performance for the full year of 2015,” said Dato’ Richard Curtis, Group Managing Director of CMSB.
“We believe that CMSB is still one of the best proxy listed investments for Sarawak’s accelerating economic growth. This is consistent with the State’s promotion of energy intensive industries under the Sarawak Corridor for Renewable Energy (SCORE) initiative and the infrastructure and related services required across the State. These two drivers are set to propel the State’s economy and CMSB to new heights,” added Curtis.
Grinding plant milestone
On 7 May 2015, CMSB held a small ceremony at the site of its new 1 million tpy grinding plant in Mambong, which is being constructed next to the company’s clinker plant. The ceremony marked the casting of concrete at the facility’s tallest structure – a 60 m-high silo. The event was attended by CMSB Cement Division’s directors, senior management and staff, the EPC contractor for the project Christian Pfeiffer, in addition to other subcontractors and consultants.
The project, which represents an investment of RM190 million, will be CMSB’s third cement grinding plant. The facility will comprise state-of-the-art European technology, including a 150 tph ball mill, a high efficiency separator, 2 x 10 000 t concrete silos, 4-line bulk loaders, and a 3000 bag/hr packing and palletizing machine.
Construction commenced in July 2014 and commissioning is scheduled for 1Q16.
Commenting on this achievement, Dato’ Richard Curtis said: “With this third grinding plant we will be operating the first integrated cement production facility in East Malaysia. This third plant will increase CMS’ total annual rated cement production capacity by almost 60% to 2.75 million t when it comes into production in 1Q16. This will enable CMS to meet growing cement demand in Sarawak, to have significant reserve production capacity to materially reduce the risk of any supply disruptions, as well as potentially to extend our supply into nearby markets. It also allows us to expand our participation in the Sarawak growth story, which is driven by the Sarawak Corridor of Renewable Energy (SCORE) initiative, and to position our group to ensure long-term sustainable growth in this core business division of ours.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/19052015/cmsb-1q15-results-demonstrate-growth-861/