Re-acquired CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd

On 4 May 2011, CMS held an extraordinary general meeting (EGM) at the Riverside Majestic Hotel in Kuching to seek approval for the re-acquisition of both CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd from Putrajaya Perdana Bhd. After months of negotiations and discussions by numerous consultants, financiers and CMS management teams, the EGM took less than 10 minutes to convene and made a unanimous decision in approving the proposal.

Two days later, the re-acquisition exercise of the companies by wholly owned CMS subsidiary CMS Works Sdn Bhd from Putrajaya Perdana Bhd for RM82 million was completed. In addition to having a positive impact on CMS’ earnings, the acquisition returned additional expertise in road construction and road maintenance to CMS, enabling it to maximise potential earnings by securing more infrastructure-related projects.