Posted by monetary > 2021-11-24 17:42 | Report Abuse

why no goreng prior to announcement?

Posted by Calvin882 > 2021-11-24 17:44 | Report Abuse

Probably from 1.2 go up to 1.4 consider half goreng. Full goreng after announcement. Lol

Posted by TedTock > 2021-11-24 17:53 | Report Abuse

Election announcement and report release on the same day - well played

Posted by PatienceWin > 2021-11-24 17:59 | Report Abuse

cant even cross 1.42 today, dissapointed despite performance, review and election out within a day

Posted by tingpangeng > 2021-11-24 18:05 | Report Abuse

Hurdles cleared… on your mark…get set …GO lol

Posted by Rose52 > 2021-11-24 18:30 | Report Abuse

Everything clear, tomorrow engine start!

Posted by treasurehunt > 2021-11-24 18:45 | Report Abuse

Impressive QR. Nobody goring yet.

Posted by Jenny > 2021-11-24 18:57 | Report Abuse

独立报告完成！！！！！！哪些被人误导有假账的仁兄不知道怎么说你了。MCO 期间也能有这样的业绩非常棒！！！！！OMH 的盈利在Q4 才能看到爆炸性的成长。OMH 母公司已经说了。

Posted by monetary > 2021-11-24 19:13 | Report Abuse

now without esg issue would Mr market willing to give cms PE 10?

Posted by Zrenxy > 2021-11-24 20:37 | Report Abuse

Tomorrow ready to hit RM1.50

Posted by Luckyboy88 > 2021-11-24 21:20 | Report Abuse

Good, 2011 till 2020 activities had been cross examined by KPMG. Certified valid.

I have been consistent with my comments and so far predictions came thru.

No more excuses 4 naysayers to compare with SD who are now in deepshit.

Consistent 50m PAT per quarter. Big room for share price to appreciate going forward. With surrounding issues settled, those who sold, fence sitters and value investors will join us.

HURRY!!!

Posted by Luckyboy88 > 2021-11-24 21:22 | Report Abuse

Earning in PAR with Unisem.

Posted by PatienceWin > 2021-11-24 21:32 | Report Abuse

I think slowly will climb back to rm2 so be patient

Posted by charlie chia > 2021-11-24 21:35 | Report Abuse

https://www.theedgemarkets.com/article/independent-consultant-highlights-gaps-contract-management-processes-cahya-mata?type=malaysia

Posted by derrtan > 2021-11-24 21:37 | Report Abuse

Further to the announcements made by Cahya Mata Sarawak Berhad (“CMSB”) on 5 May 2021, 6 May
2021, 3 June 2021, 8 June 2021, 2 August 2021, 30 August 2021 and 29 October 2021 on the
suspension of Mr Syed Hizam Alsagoff, the Group Chief Financial Officer of the Company and the
appointment of KPMG Management & Risk Consulting Sdn Bhd (“KPMG MRC”) as the independent
consultant to review the financial management of certain investment and projects, we furnish herewith
the following information on the matter.
1. The key findings of the Special Review Report by the appointed consultant KPMG MRC as
instructed by the Board on the three projects (“Said Projects”) in the Associates, Subsidiaries and
Joint Ventures of CMSB are as follows:
 There were gaps in the contract management and bidding processes contributing to a project’s
losses;
 Lack of monitoring by the Associate’s Board on the hedging transactions of a certain project
which ended in losses due to adverse currency exchange movements;
 There was a lack of due diligence and stakeholder management on the joint venture partners’
risks of a project; and
 The reporting structures by Management to the Board were not adhered to and complied with
in a project.
2. The realized losses incurred had been accounted for in the past financial results.
3. Based on the key findings above, an external lawyer has been appointed to look at the various
issues that have arisen and to advise CMSB on all legal issues that arise in particular in relation
to the conduct of senior management at that material time.
4. Further to the report the Board has taken immediate steps and measures over the last few months
to strengthen the Company’s operations and processes:
 In this regard the Board has initiated a review of the reporting and realigning of the Group
structure with the aim to ensure the internal controls and risk management processes are
strengthened including promoting transparency and accountability as follows:
● strengthening Risk Oversight at the Board level, with the main function is to provide
oversight on enterprise material risk and provide updates on key projects on a periodic
manner so that the Board will be appraised of such risk matters on a continuous basis.
 In this connection CMSB will have an independent Group Risk Division to drive the risk plan
for the entire organization.
 A culture of governance and growth across the Group will be actively pursued by the Board to
strengthen the accountability and integrity at all levels of Senior Management.
 Initiation of operational improvements including improving project bidding processes, tightening
of control over project costs and strengthening of project management.
 Recruitment of additional senior management including the Chief Risk Officer, Chief Technical
Officer, Head of Compliance, Chief of Staff (to oversee the Human capital transformation).
Page 2 of 2
 Setting up of Investment Committee chaired by Group Managing Director to review and
recommend all proposals and investments to the Board for information and approval as
appropriate.
 Improving the reporting process by investing and implementing an Enterprise Resource
Planning (“ERP”) system to streamline information and data flows.
 Appointment of new Group Chief Financial Officer (“CFO”). An extensive search for a new
Group CFO with the relevant capabilities, experience, credibility and strong credentials is ongoing. Meanwhile Madam Tan Mei Fung will continue as Head of Finance pending the
appointment of the new CFO is complete in due course.

Posted by charlie chia > 2021-11-24 21:37 | Report Abuse

What happened to the barking
Who ask us to run fast before bad news on investigation report is out

Posted by derrtan > 2021-11-24 21:40 | Report Abuse

the report doesnt seems positive also

Posted by Calvin882 > 2021-11-24 21:45 | Report Abuse

At least now we can have a peace of mind as we know that we are investing in a company that knows it's own management gaps and finding ways to improve those gaps. No unforseen governance issue ahead as all have been identified by KPMG. In order to further increase investors confidence, the management should publish periodic updates to highlight the continuous improvements done on those gaps.

Posted by Calvin882 > 2021-11-24 21:47 | Report Abuse

Latest qtr result also not bad even MCO

Posted by TedTock > 2021-11-24 21:48 | Report Abuse

The report provides clarity and a way forward. A closure itself is positive. Not sure what you were expecting if you read about the issues that led to the kpmg investigation (an investigation that was initiated by cmsb, not forced by external regulators).

Posted by charlie chia > 2021-11-24 21:51 | Report Abuse

Tomorrow market will react positively and price will pick
Up gradually, hope the election will help to stimulate it
Hard to get at 1.40 from now

Posted by Calvin882 > 2021-11-24 21:52 | Report Abuse

The investigation report is neutral. What make the report positive is the price of the share was sold off and suppressed by the lengthy investigation. The share price actually fell from more than RM2 to RM1.2 due to continuous negative news due to the investigation. As the report doesn't show any negative findings, naturally the price should go back up. Hopefully.

Posted by Calvin882 > 2021-11-24 21:56 | Report Abuse

Furthermore, numerous delays to the investigation also raised suspicion to investors including myself. If the investigation was not initiated by the company itself, I think I also sold already.

Posted by TedTock > 2021-11-24 21:57 | Report Abuse

Yes now perhaps epf and tabung haji need to rebuy what they sold lol

Posted by Calvin882 > 2021-11-24 21:59 | Report Abuse

CMSB move to initiate the investigation made me think that the issue may not be that serious. Thus I held on. Luckily I was right

Posted by Calvin882 > 2021-11-24 22:03 | Report Abuse

At first I was also worry about fake accounting issue as the company is making increasing profit every qtr. Now the report has proven those are real figures. And the best part is the figures may even better going forward as they addressed the gaps.

Posted by Jenny > 2021-11-24 22:04 | Report Abuse

uncertain clear 呵呵。

Posted by Luckyboy88 > 2021-11-24 22:14 | Report Abuse

# derrtan, KPMG had identified the problems and recommended ways to deter future reoccurrence. Patching up leakages will improve profitability.

Main concern 4 investors are huge impairment and cooked up accounts. Now it's the sustainability of CMS earning, price movement, dividend that moves the counter. (future)

frankly speaking, I do reserve some fund in case my prediction flop. Now happy to add more. I hope institutions funds especially EPF and Tabung Haji can become net buyers starting tomorrow.

NO MORE HOLDING BACK!

Posted by Luckyboy88 > 2021-11-24 22:34 | Report Abuse

Clearance of governance issues by KPMG will give BOD flexibility to buy into treasury shares whenever feels under value.

Nobody can acuse them 4 manipulation of share prices. Remember company sold all at 2.25.

Posted by PatienceWin > 2021-11-24 23:36 | Report Abuse

No wonder keep got block , company want to buy cheap before spike

Posted by monetary > 2021-11-25 06:15 | Report Abuse

Sailang at morning TO price!

Posted by LogicTradingAnalysis > 2021-11-25 08:30 | Report Abuse

TA revise target price higher to RM 1.76 from RM 1.68

Posted by kevinobc > 2021-11-25 08:34 | Report Abuse

https://www.nst.com.my/business/2021/11/748449/cahya-mata-sarawaks-q3-earnings-jump-15pct

Posted by Prudentinv > 2021-11-25 08:39 | Report Abuse

All the target price are nonsense. They follow the crowd. My own judgement.

Posted by kl_guy > 2021-11-25 09:25 | Report Abuse

selling at rm2.50 target price. Sarawak election on dec 18.

Posted by Zrenxy > 2021-11-25 09:32 | Report Abuse

Flying with TP rm1.68...all in

Posted by pdchs > 2021-11-25 10:00 | Report Abuse

sell on news....

Posted by monetary > 2021-11-25 10:15 | Report Abuse

BN sure win in SRW. no worry. just buy.

Posted by monetary > 2021-11-25 10:18 | Report Abuse

cms PE5 all bcoz of political risk n esg issue. without these 2 hurdles it should be PE8 to 10

Posted by Calvin882 > 2021-11-25 10:22 | Report Abuse

@pdchs, no buy before news how to sell on news? Lol...

Posted by TedTock > 2021-11-25 10:27 | Report Abuse

It looks slow and steady now, good sign

Posted by monetary > 2021-11-25 10:29 | Report Abuse

slow n steady everyone makes money. fast up fast down trap ppl only. don't miss the opportunity.

Posted by Jenny > 2021-11-25 11:42 | Report Abuse

这个股之前被人误导假账乱丢，给他时间会慢慢爬升到他应有的价值

Posted by Prashan Ram > 2021-11-25 14:56 | Report Abuse

monetary, there is no BN in Sarawak. just partners which can pull out anytime

Posted by Needluck > 2021-11-25 15:54 | Report Abuse

trap again?

Posted by Calvin882 > 2021-11-25 16:11 | Report Abuse

Our market today is bad. More than 700 counters down. If can close in green consider lucky.

Posted by TedTock > 2021-11-25 16:14 | Report Abuse

Did the ataims issue cause jitters?

Posted by Calvin882 > 2021-11-25 16:27 | Report Abuse

I think more like due to increasing covid cases

Posted by monetary > 2021-11-25 17:08 | Report Abuse

Good job CMS. In this volatile market we need solid counters like CMS

Posted by PatienceWin > 2021-11-25 17:13 | Report Abuse

it seems operator trying so hard to push down and buy cheap at the end of the market.