Cahya Mata Sarawak Berhad Takes ‘The EDGE for Best Performing Stock’
Kuching, Sarawak – August 13, 2014 – Cahya Mata Sarawak Berhad (CMSB), Sarawak’s sole cement producer and manufacturer and custodian of the State’s growth, continued to make Sarawak proud, garnering critical acclaim for their solid business management and continued growth, picking up ‘The EDGE Billion Ringgit Club’ (EDGE BRC) award for the ‘Best Performing Stock – Industrial Products Sector’ and picked up a silver award for ‘Highest Profits Growth 2014 – Industrial Products Sector.’ This year’s achievements follow CMSB’s success at last year’s event where they collected ‘Highest Profit Growth Company 2013 – Industrial Products Sector.’
Launched in 2010, and officiated this year by Deputy Prime Minister, Tan Sri Muhyiddin Yassin, the club aims to set the benchmark in corporate Malaysia. Every year The EDGE BRC honours the top businesses for their excellence in delivering quality results and returns and to honour the best-performing Bursa Malaysia listed companies.
Dato’ Richard Curtis, Group Managing Director of Cahya Mata Sarawak Berhad, who received the award on Monday, 11 August from Deputy Prime Minister, Tan Sri Muhyiddin Yassin, said: “This award is testament to the good work that Cahya Mata Sarawak is doing, consistently delivering for our four major stakeholders – our shareholders, the community in which we operate, the State Government and our employees. And it is to those employees who make up the CMSB family, to whom we owe so much, I would like to dedicate this award.
“We strongly believe that CMSB is one of the best proxy listed investments for Sarawak’s accelerating economic growth. This is driven by the State’s plan to promote energy intensive industries under the Sarawak Corridor for Renewable Energy (SCORE) initiative and consequently from the infrastructure and related services required across the State. These two drivers are set to propel the State’s economy and GDP to new heights. CMSB’s 20% stake in the joint-venture ferro silicon and manganese alloys smelter project with Australian listed OM Holdings Ltd and 40% stake in an integrated Phosphate Products complex with Malaysian Phosphate Additives Sdn Bhd and Arif Enigma Sdn Bhd – plus other investments being evaluated – are poised to significantly drive up shareholder value. Our prudent financial policies, healthy balance sheet and strong corporate governance measures allow us to maximise our participation in the Sarawak growth story and to position ourselves to ensure long-term sustainable growth”, said Dato’ Curtis.
CMSB recently recorded a positive first quarter ended 31 March 2014, reporting a pre-tax profit (PBT) of RM66.19 million for the first quarter ended 31 March 2014 (1Q14), a 21% increase from the preceding year’s corresponding quarter’s (1Q13) PBT of RM54.81 million. Furthermore, its quarter-on-quarter revenue rose 20% to RM373.24 million from RM310.36 million and profit after tax and non-controlling interests (PATNCI) increased by 35% to RM38.90 million from RM28.73 million in 1Q13. Earnings per share stood at 11.46 sen versus 8.89 sen from the corresponding three-month period of last year. CMSB will soon announce its second quarter results.
