Posted by mirilang > 2021-09-30 19:36 | Report Abuse

new chairman tomorrow

Posted by treasurehunt > 2021-10-01 12:47 | Report Abuse

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

Posted by Targeted > 2021-10-05 10:31 | Report Abuse

25% OMH stake .......im having a small bite of this cake....

Posted by Targeted > 2021-10-05 10:33 | Report Abuse

TED, nice to see you here.....

Posted by treasurehunt > 2021-10-05 12:56 | Report Abuse

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.

Posted by Investeye > 2021-10-05 16:04 | Report Abuse

Approved of Melaka election will pave a way for Sarawak election. Hope this counter will perform again !

Posted by Targeted > 2021-10-05 17:15 | Report Abuse

Gona be soon....

Posted by treasurehunt > 2021-10-05 19:17 | Report Abuse

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

Posted by 123hooRAY > 2021-10-06 09:21 | Report Abuse

Hello everyone, if I may ask, how does the Sarawak election benefit CMSB?

Posted by monetary > 2021-10-06 15:01 | Report Abuse

wow! 1.3 liao. Congrats to all believers who hold.

Posted by Targeted > 2021-10-06 17:04 | Report Abuse

Nice setup......

Posted by treasurehunt > 2021-10-06 19:03 | Report Abuse

Investors are longing for KPMG reports.

Posted by CHLEONG888 > 2021-10-06 19:06 | Report Abuse

Sarawak election very soon? Keep on accumulate

Posted by treasurehunt > 2021-10-06 19:14 | Report Abuse

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.

Posted by treasurehunt > 2021-10-07 16:00 | Report Abuse

Turtle is walking up hill.

Posted by monetary > 2021-10-07 16:09 | Report Abuse

wow! very pandai draw chart. looks like forming cup & handle.

Posted by Myviva > 2021-10-07 17:33 | Report Abuse

Slow2 up..hihi

Posted by Targeted > 2021-10-07 19:48 | Report Abuse

.
OMH Sarawak Plant, 25%belongs to CMSB, has the design capacity to produce about 200,000-210,000 tonnes of FeSi and 250,000-300,000 tonnes of manganese alloy per annum.



Nice.......

https://www.klsescreener.com/v2/news/view/785089

Posted by treasurehunt > 2021-10-07 22:33 | Report Abuse

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.

Posted by treasurehunt > 2021-10-07 22:53 | Report Abuse

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.

Posted by treasurehunt > 2021-10-07 23:23 | Report Abuse

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.

Posted by Luckyboy88 > 2021-10-08 00:54 | Report Abuse

A big applause to Treasurehunt on positive efforts and facts finding in CMS forum.

Problems solving 1 by 1 :

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

*** risk commitee and new BOD will address the issue identified according.

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

*** complex 1 already starts operation and bearing fruits to cms group. Additional income.

https://www.thestar.com.my/business/business-news/2021/06/08/mpas-targets-integrated-complex-to-begin-full-production-by-july

*** complex 2 will not be scrap, it will be like com1 effected by pandemic which cause stop work order and slowly come into the picture. Small additional cost due to delay and impairment on paper.

Article : In 2021, the United States Geological Survey (USGS) estimated that economically extractable phosphate rock reserves worldwide are 71 billion tons, while world mining production in 2020 was 223 million tons. Assuming zero growth, the reserves would thus last for 260 years.

Since there is limit to this commodities, it's a lucrative venture and price will rise with time. Phosphate mainly use in production of fertiliser ( baja hitam, wakaka my favourite) and phosphoric acid, which is used in everything from food and cosmetics to animal feed and electronics.can smell $$$$?

3) write off RM7,244,541 in the implementation of the ERP system.

*** that's why I say previous CFO got element of fraud. He is Concluding with the vendor (taking kickback) to deliver a below par system. Out of the inflated figure, I believe there are module's that can be salvage back ex hardwares and common modules in the software part. Solution, find a reputable vendor to put it online ASAP. For the balance amount, dispute this in court plus compensation as CMSB got strong case here.

My point is : WHAT IS FEW MILLIONS COMPARE TO ALMOST 1.5B LOST IN MARKET CAP DUE TO OVERREACTION AND PANIC SELLING WHEN THEY READ NEWS HEADLINES OF FRAUD IN CMSB. COINCIDENCE, SERBA DINAMIK CASE OLSO AROUND THAT TIME, THUS AMPLIFY THE FEAR EFFECT.

sap sap sui, when KPMG report out, market will rushing in to buy cos we all know fair value is alot more than current price of 1.32

Keep on the good work!!! Treasurehunt.

Posted by williamtkb > 2021-10-08 01:01 | Report Abuse

Very similar with serbadk.

Posted by Luckyboy88 > 2021-10-08 01:34 | Report Abuse

Do you know bio agriculture-chemicals is gigantic business??

https://www.livemint.com/Companies/5oQiN5gpbeVrRBmsRPTkuI/No-regrets-for-63-billion-Monsanto-purchase-says-Bayer-C.html

Read more, this newly setup division will drive CMS to another new high lv of growth.

Posted by treasurehunt > 2021-10-08 07:24 | Report Abuse

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).

Posted by treasurehunt > 2021-10-08 07:41 | Report Abuse

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

Posted by treasurehunt > 2021-10-08 07:49 | Report Abuse

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.

Posted by monetary > 2021-10-08 07:58 | Report Abuse

2 forensic specialists luckyboy n treasurehunt have turned the complexity of cms into clarity. Mind to enlighten is the TP?

Posted by treasurehunt > 2021-10-08 08:08 | Report Abuse

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)

Posted by treasurehunt > 2021-10-08 08:19 | Report Abuse

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.

Posted by Targeted > 2021-10-08 11:45 | Report Abuse

The ferro prices will be a superb catalyst.......

Posted by monetary > 2021-10-08 12:05 | Report Abuse

unfortunately not many know cms is proxy of steel play. IB also seldom cover this topic.

Posted by CHLEONG888 > 2021-10-08 12:36 | Report Abuse

Just waiting patiently, will back to it's glory day, RM2.00 is not an issue, hopefully

Posted by treasurehunt > 2021-10-08 13:01 | Report Abuse

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).

Posted by treasurehunt > 2021-10-08 13:08 | Report Abuse

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.

Posted by treasurehunt > 2021-10-08 13:18 | Report Abuse

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.

Posted by treasurehunt > 2021-10-08 13:41 | Report Abuse

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

Posted by monetary > 2021-10-08 13:45 | Report Abuse

someone care to do a write-up in i3 to get investors informed?

Posted by treasurehunt > 2021-10-08 14:00 | Report Abuse

OMH 1st half 2021 operation results :

Smelting
This business segment covers the operations of the FeSi and manganese alloy smelter operated by OM Sarawak and the Qinzhou manganese alloy smelter operated by OM Materials (Qinzhou) Co Ltd (“OMQ”).

The operations within OM Sarawak and OMQ recorded revenue of A$255.3 million for 1H 2021 as compared to A$272.1 million for 1H 2020. The decrease in revenue was mainly due to the
lower volumes of ferroalloys produced and sold in 1H 2021 as compared to 1H 2020.

OM Sarawak produced a total of 61,472 tonnes and 94,827 tonnes of FeSi and manganese alloy respectively in 1H 2021 (1H 2020: 96,508 tonnes of FeSi and 109,415 tonnes of manganese
alloy) and sold 55,360 tonnes and 101,944 tonnes of FeSi and manganese alloy respectively (1H 2020: 80,538 tonnes of FeSi and 99,833 tonnes of manganese alloy).

Total revenue contribution
for 1H 2021 was A$232.8 million as compared to A$256.1 million for 1H 2020. 4 FeSi furnaces have were shut-down since the second quarter of 2020 due to limited manpower at the Plant because of labour disruptions coupled with lockdowns and strict travel restrictions as a result of the COVID-19 pandemic. In addition, operations at the Plant were also temporarily suspendedfor about 1 month as a result of positive COVID-19 cases which also contributed to the decrease in production tonnages and sales volume in 1H 2021.

OMQ’s production was suspended after the shut-down of its 2 furnaces at the end of March 2020 for scheduled maintenance and furnace upgrading. A furnace transformer was subsequently upgraded from 16.5MVA to 25.5MVA to improve production efficiency and to provide the Qinzhou
smelter with added flexibility to produce either SiMn or HCFeMn. Full commercial operations for the upgraded furnace commenced in late January 2021 and the second furnace was subsequently restarted in March 2021. OMQ produced 24,684 tonnes of manganese alloy and 14,469 tonnes of manganese sinter ore in 1H 2021 (1H 2020: 10,140 tonnes of manganese alloy and 8,051 tonnes of manganese sinter ore) and had a revenue contribution of A$22.5 million for 1H 2021 as compared to A$16.0 million for 1H 2020.

The smelting segment recorded a higher contribution of A$40.5 million for 1H 2021 as compared to A$22.3 million for 1H 2020 predominantly due to the improved prices for ferroalloys, particularly
FeSi, which resulted in improved margins achieved, and the one-off gain from the de-recognition of financial liabilities realised from the redenomination of the MYR portion of the project finance
loan to USD. This increase was also contributed by OMQ having resumed full operations in the
first quarter of FY2021.

Posted by Myviva > 2021-10-08 14:02 | Report Abuse

Nice

Posted by kl_guy > 2021-10-08 20:58 | Report Abuse

one thing for sure sarawak election , sure will goreng.

Posted by Targeted > 2021-10-08 21:14 | Report Abuse

At current price, the Stars seem well alligned fr a significant upthrust...........

Posted by Targeted > 2021-10-09 01:51 | Report Abuse

https://www.klsescreener.com/v2/news/view/892167

Construction of 600 telco towers in Sarawak, worth RM1B awarded to 3 contractors.......will know who soon....

Slogan-Let no one be left behind

Sarawak pre-elecrion party has begun.....

Posted by Luckyboy88 > 2021-10-09 04:54 | Report Abuse

ON THE SURFACE : indeed a very good news to CMSB as under it stable parked 2 dark horse to bid for tender.

1) Sacofa, with telecommunications expertise and proven track record.
2) KKB Eng, structural expert

Normally local companies will be given priority and CMS can go in with few more proxies as to increase the chances of winning.

Now I know why Samsung (fortune 500 com) agreed to partner KKB in tendering of construction projects worldwide. To KOREAN, Sarawak is indeed overseas venture, haha!

https://www.theedgemarkets.com/article/kkb-inks-mou-samsung-work-together-construction-tenders-worldwide

Hope to have at least 1 slice of the pie.

IN DEPTH : My heart bleed for my country, Malaysia.

Why suddenly government so good, it's KELUARGA MALAYSIA slowly transforming? Why is there such an ungency to fork up 1B just to increase another 10% connectivity from existing 80 to 90%. This coverage/penetration issue suppose to fall under work scope of telcos. In other words, telcos pays as written in concessionaire agreement.

It cost RM1, 666,666.67 per BTS (base transceiver station). OMG!!

technical and costing requirements :

1) depends on tender specifications, it can be either monopole or microwave tower. The bulky part.
https://m.alibaba.com/product/277941277/Tower-Telecom-Tower-20-Meter-25.html

Max rm50k per site including delivery to site cos some remote sites really challenging.

2) control panel + batteries pack - - - rm20k
3) microwave link, panel antennas, u clamps - 30k
4) cabling works - rm5k
5) backup generator, only applicable to very remote site - 30k
6) land size of max 3x3m, FOC atuk punya unless it's private entities.
7) fencing & CCTV - - - rm15k

Mostly all in RM150K for hardware per bts.

installation, testing & commissioning :

Proposed 5 teams consist of 7 peoples lead by a system engineer, 2 technicians plus 4 bangla.
Crane service needed.
Target 4 days up 1 site per team. 18 months in total.

Cost, I don't know, u guys tell me as I have difficulty to tally it to 1.67m.

Yearly maintenance contract : can I simply tembak??

Front looks nice, hidup hidup!!! yet back gasak habis habis. Maybe I miss out the golden emblem made of 99.9% pure gold bearing Sarawak's state logo.

Posted by Luckyboy88 > 2021-10-09 05:42 | Report Abuse

Oh yes, travelling & accommodation cost for staffs.

Posted by Luckyboy88 > 2021-10-09 05:53 | Report Abuse

R u sure, no 1 left behind?

The lack of accountability in government spending will cause an adverse impact on every working class Malaysian.

It's just matter of when.

Posted by Juliana > 2021-10-09 06:21 | Report Abuse

no 1 left behind? Good or bad.
Political?

Posted by monetary > 2021-10-09 07:44 | Report Abuse

Rohas Redstone Sacofa

Posted by monetary > 2021-10-09 07:54 | Report Abuse

In the end Sacofa might acquire most of the 600towers to enlarge it's existing 1800towers portfolio.

Posted by monetary > 2021-10-09 07:55 | Report Abuse

Again. Not many know CMS Jendela play. Most ppl only know she sell cement n build road.