OMH's Sarawak factory capacity is much bigger than China factory. Most of the sales volume comes from the Sarawak operation which CMSB owns 25% stakes.

Quarterly sales reports (Smelting) from OMH:

OM Materials Sarawak:
1st Qtr 21
Ferrosilicon 25,029 tonnes
Manganese Alloys 50,996 tonnes

2nd Qtr 21
Ferrosilicon 30,331 tonnes
Manganese Alloys 50.948 tonnes


OM Materials QinZhou China:
1st Qtr 21
Manganese Alloys 3,419 tonnes

2nd Qtr 21
Manganese Alloys 14,635 tonnes

Telecommunication services is the biggest contributors to CMSB or sharing PBT RM 57 million (114.3 x 50% stakes) from the Associate, Sacofa. Cement operations ranked second or PBT 48 million.

AR 2020

Telecommunication division:
In FY 2020, Sacofa turned in a strong performance positing revenue totalling RM254.65 million (FY
2019: RM242.31 million) and PBT amounting to RM114.31 million (FY 2019: RM112.60 million).

Cement division:
Against this challenging backdrop, revenue for the Cement Division decreased by 21% to RM476.03 million in FY 2020 against FY 2019’s revenue of RM601.62 million. Meanwhile, PBT declined by 34% to RM48.44 million in FY 2020 against the previousyear’s PBT of RM73.11 million.

CMSB booked losses from the Associates, OM Materials RM 23.7 million in year 2020. The company will report high profit contributing from OM Materials from the 2nd half 2021 onward as FeSi prices rally.

AR 2020:
For the year under review, OM Materials (Sarawak) posted a weaker performance registering a 22% drop in revenue to RM1.52 billion in comparison to revenue of RM1.94 billion in the preceding year. At the same time, it recorded a higher loss after tax (LAT) of RM94.91 million in FY 2020, some 2,914% higher than the LAT of RM3.15 million registered in FY 2019.

CMSB doesn't own OMH but through 25% stakes in OMH's subsidiaries (OM Materials Sarawak & OM Materials Samalaju).

CMS is actively involved in the development and operation of a ferrosilicon and manganese alloy smelter in the SIP by virtue of its 25% equity stake in OM Materials (Sarawak) Sdn Bhd and OM
Materials (Samalaju) Sdn Bhd.

The remainder 75% equity is owned by a wholly-owned
subsidiary of OM Holdings Limited, an Australianlisted
vertically integrated miner, smelter and trader
of ferroalloys and ores. The project centres on the
development of a production facility with a 200,000
to 210,000 MTpa ferrosilicon capacity and a 250,000
MTpa to 300,000 MTpa manganese alloy capacity
(silicomanganese and high carbon ferromanganese).

Monetary. Share price will be back to the previous level as long as the existing businesses remain intact. Any bad news from KPMG report is regarded as one off item or kitchen sinking exercise.

KPMG's investigation may include the risk associated with 'Investment in Securities' with the exposure of RM 280 million as below :

Balance as at 30Jun 2021
- Investment debt Securities (level 2) RM 255 million
- Redeemable preference shares (level 3) RM 23.4 million

Fair value hierarchy

The Group classifies fair value measurement using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels:

Level 1 - Quoted prices in active markets for identical assets or liabilities,

Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or

liability, either directly or indirectly; and
Level 3 - Inputs for the asset or liability that are not based on observable market data (unobservable inputs)

Luckyboy88. I agreed that KPMG investigation is over amplifying by the market by reading the exaggerated press title and generating a similar emotion relating to Serbadk.

MPAS is not a bogus complex located in the middle east which can be easily fool by nonsenses. It's within the Samalaju Industrial Park, Bintulu, next to Press Metal factory.

https://youtu.be/MRIJsi2bXKQ

Similar with Serbadk? You must be kidding. Serbadk net borrowing more than 1 billion. CMSB total borrowing is about 910 million whereas its combination of cash or cash equivalent about 800 million (Investment on securities plus Cash in Bank). CMSB's net borrowing is merely 100 million.

Investment in securities consists of Income debt securities (unquoted) & Money market funds (unquoted).

With the current NTA RM 2.72, CMSB is able to crunch 35 cents per share of potential write off PPE in the worst case. Share price has crashed from RM 2 to RM 1 before it rebounded to the current level RM 1.3. What important is the existing bread and butter business remain profitable especially OMH, cement and Telecommunications and JV with state government.

The owner of the company was really pissed off to the previous management team after reading the remarks in the Annual Audited Accounts 2020:

1. The Accounts of Malaysia Phosphate Additives Sarawak (MPAS) was not audited by EY or CMSB external auditor.

2. Written off PPE of MPAS complex complex 2 and no ending delay in the commencement of operation of phosphate complex 1.

3.
Software implementation cost written off The Group entered into a contract for the procurement and implementation of an Enterprise Resource Planning (“ERP”) system with a vendor on 24 July 2019 for an amount of USD3.0 million (approximately RM12.4 million). Up to the reporting date, the Group has incurred RM7,244,541 in the implementation of the ERP system. However, the Group views that the vendor was in breach of the contract by failing to provide all the services and/or fulfill its obligations in relation to providing an ERP solution and system implementation. Consequently, a decision was made to stop proceeding with the implementation. As a result, the Group has written off the cost incurred for the implementation together with all direct expenses amounting to RM7,810,442 during the financial year ended 31 December 2020. Subsequently, on 27 January 2021, the Group received a letter of demand from the vendor for USD1,073,325 (approximately RM4.3 million) to be payable for various alleged work performed. These claims have not been provided for in the financial statements as Management views that these claims were not issued in accordance with the contract. Management, in consultation with their solicitors, is of the opinion that such demands are frivolous and the Group intends to contest such claims vigorously.

The worst scenario of KPMG report is scrapping the whole project of phosphate complex 1 capitalised under Assets Under Construction worth RM 600 million or RM 360 million losses or 35 cents per share for 60% ownership. It doesn't effect to future cash flows.

Turtle is walking up hill.

Heat up today. One day show?

Price up merely 4% ... Better than nothing. Hope the uptrend continues tomorrow..

Sarawak state election will be held before 4th Apr 2022. Phosphate price has increased 70% since last year. Hope their Phosphate Additive complex to commence operation in 4th Qtr 21.

Investors are longing for KPMG reports.

Teo is a good stabilizer but a novice chartist.

Fund managers don't dare to load up pending announcement of the KPMG investigation report by this month.

Similar way of projecting ASP of gloves. If it doesn't happen, the would repeat again and again until it becomes a real in one day.

Forecast by IB: Maintain 2021-23 CPO price assumptions of RM3,800/mt, RM2,900/mt and RM2,800/mt,

Wait for Nasdaq major correction to chase out hot money circulating in the Technology sector. If it doesn't happen, CPO 6k also don't help much. Bursa pool is really small nowadays.

AR 2020

Sacofa today remains Sarawak’s leading ICT
infrastructure company and the key driver behind
the development of the State’s state-of-the-art
telecommunications and information technologies
infrastructure. The Company has been accorded
the right to build, manage, lease and maintain
telecommunication towers in Sarawak. It has also
been granted “deemed native status” allowing it to
acquire native lands in the State for the construction
of telecommunication facilities.
PERFORMANCE HIGHLIGHTS
In FY 2020, Sacofa turned in a strong performance
positing revenue totalling RM254.65 million (FY
2019: RM242.31 million) and PBT amounting to
RM114.31 million (FY 2019: RM112.60 million).
As the major telecommunications infrastructure
provider in Sarawak responsible for over 90% of
mobile traffic in the State, Sacofa was deemed an
essential services provider and was able to continue
running its operations unhampered throughout the
initial MCO period.

OPERATIONAL HIGHLIGHTS
Sacofa played a key role during the pandemic to
ensure Sarawak’s telecommunication infrastructure
operated flawlessly. Internally, Sacofa was able to
adapt quickly to the new normal and stringent SOPs
by bringing its Business Continuity Planning policies
into play within hours of the announcement of the
first MCO. This was done with minimal disruption to
its business and operations.
Externally, Sacofa was able to coordinate with
its various partners and customers to ensure its
network remained uninterrupted by the demands
and needs during the pandemic. As a result of its
robust network design and planning, Sacofa faced
no major incidents or outages especially when
the network was most needed. The Company also
ensured it paid particular attention to essential
critical service locations such as hospitals,
emergency services and government installations to
ensure the network continued without interruption.
Given the network’s built-in capacity, retail service
providers or RSPs were able to upgrade their
networks based on user demands as and when
required.
In FY 2020, Sacofa continued to grow its asset
portfolio by constructing 84 towers across
Sarawak in support of its major customers,
as well as in line with State and Federal
Government initiatives. To date, Sacofa owns
and manages over 1,800 towers throughout
Sarawak with more than 11,000 km of fibre optic cable. Over 55% of the towers Sacofa owned have been fiberised and made 5G-ready.

Slowdown and washing..

Keep up the momentum. Top up all the way.

Not harm starting from buying 1 lot first to crack the wall built up by yourself.

You know the price would up from 4,5,6,7,8....and yet you still want to fight against yourself. Follow the trend and relax la.

Wait until 8.0 then you will be repeating yourstory again. Nothing new in the stock market.

MY is well known in tanking stocks throughout his bullish analysis...

CanOne is catching up with its peers only...long way to go.

Not to take it seriously.. My wild speculation only.

Wait for the news from kyy at 5.0

CMSB cement segment is generating high profit whereas other cements players don't make money and yet able to fetch much higher market cap. Mana boleh.

Market Cap
CMSB - 1354m
Humeind - 526m
Mcement - 3918m

Coming... CMSB forward PER below 8x nia.

Tickets are getting lesser after scooping up by the operators.

You wanted to sell them at 2.5 also can...who was being so naive in stock market.

CMSB is interesting at this juncture...solid material business.

EPF stakes is expected to be negligible after liquidating its position more than a month.

Updated PER valuation of consumer packaging companies.

General Can segment (PER)
- Canone 5x
- Ableglob 12.3x
- DPIH 32x

Stretch film segment (PER)
- BPplas 12.2x
- Tguan 11.7x

Flexible & Other plastic packaging (PER)
- SCGM 14x
- Scientx 15.5x
- SLP 15.8x

Carton segment (PER)
- Master 6.9x
- Muda 6.9x
- Orna 6.8x
- PPHB 6.4x

the stablizer of 3A.

Coming..

Get back to my cave again and enjoying the monkey shows.

Keep silent is the best...observe their responses after they have been toying by the news...monkeys jumping here and there.

Simply ignore them cause we know they are either being cunning (to control our standing) or gullible (their weakness of being hijacking by the emotions, moral, culture and values) .

Posted by stockfreak > Sep 22, 2021 6:54 PM | Report Abuse

Someone will imagine you being down on your knees start licking white ... ice cream.

These people don't look for truth and doesn't interested spending time to seek further information to understand reasons behind. They are being hijacked by their understanding of moral, culture and value & persons surrounding them. It is tough to stand out from their own circle. Standing out from circle the will be tagged uncooperative or traitor...

Posted by stockfreak > Sep 22, 2021 6:47 PM | Report Abuse

If you say anything bad about China here, someone will label you as white supremacist or US balls licker. You can either support China or USA here. You cannot even support Malaysia. Ridiculous

Ask yourself, are you sharing your knowledge and real information here?

I'm here to entertain gullible a while as i have not achieved OTB level yet.

You see pro OTB. He is so focused in his work. No time available to entertain those funny things or stories.

In fact, majority of the politics news are mainly cater for freelancers or retirees. Not really much helping us as a retail investors. The real investors or traders focus in their homework... keep updating facts and news. Of course, this kind of job got nothing much fun at all.

We don't look for fun but we look for money flow in the stock market.

You don't know the secret? Bursa will employ you as an arm-chair analyst once you have acquired sufficient knowledge and real experiences (suffering)...Financial freedom man.

Posted by PelitaAlam > Sep 22, 2021 8:00 PM | Report Abuse

"They don't have the desire to update their knowledge of the latest development of TECHNOLOGY."
=================================

As if you going to employ them if they are updated.

You know la. Many retirees are enjoying their savings and reading and posting news making them happy only. Fake or real doesn't matter. They don't need to facts cause they are not dependent facts to make proper decision in investments for making money in Bursa. What they want is fun/syok ...making money is not their priority.

They simply want to enjoy posting things they love in i3...misleading or not doesn't matter. They don't have the desire to update their knowledge of the latest development of TECHNOLOGY. Many are gullible. Of course, how can we make money without their support.