KUALA LUMPUR: RAM Rating Services Bhd (RAM Ratings) has revised the long-term ratings outlook on Cahya Mata Sarawak Bhd to positive from stable in view of the group’s improving business and financial profiles.
In a statement today, RAM Ratings said the company’s new phosphates manufacturing division, Cahya Mata Phosphates Industries Sdn Bhd, has started commissioning production and would transition to commercial operations by mid-2023.
"The division is anticipated to become a significant earnings contributor from fiscal 2024 and will diversify the group’s current construction-focused business profile and further strengthen its financial profile with segmental contribution potentially reaching half of the group’s earnings,” it said.
Meanwhile, the credit rating agency said it expect the group to be a direct beneficiary of the rise in Sarawak’s construction activity and its sturdy foothold in Sarawak’s cement industry would directly benefit from the state’s continued focus on infrastructure development.
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However, it said a lack of geographical diversification and the group’s cyclical core businesses are ratings moderators but the rising prominence of Cahya Mata Phosphates’ earnings will reduce the exposure to these factors.
According to RAM Ratings, the ratings may be upgraded if Cahya Mata Phosphates could demonstrate stable operational and financial performances.
"Any significant deviation from Cahya Mata’s plans and realisation of expected earnings of the phosphates operation may warrant a reversion of the outlook to stable,” it said.
It added that the group also anticipated modest contributions from its recently acquired businesses in drilling fluids and drilling waste management to become more meaningful over the longer term. - Bernama
why ESOS only to 1 particular individual not to staff, a lot of questions needs to be asked even poor share price performance. This AGM,should not easily pass all the resolutions so easily, sad its held in Kuching, otherwie i would have raised all these questions. Whoever reading this in Kuching , shareholders of cause, maybe can raise on my behalf, TQ.
sometime about more than a year ago, there has been mismanagement by some senior staff, and some were asked to go on leave, n legal was planned to be taken, any one knows what was the outcome ?
Macam banyak je melabur Sabar jelah Chart pun ada kepala ada bahu memang nampak turun ke bawah Jangka panjang akan naik juga bila pasaran kembali sihat Good luck
Well, you can expect Sulaiman to lead the shareholders to Holland. I will avoid this company with a 10ft pole. I am speaking as a Sarawakian who has observed this for far too long
CMSB Annual Report 2022 has been completed n will be presented to the shareholders at the coming AGM on 26/05/23. CMPI (formerly known as Malaysia Phosphate Additives Sarawak Sdn Bhd) had already referred a dispute involving the PPA to the Asian International Arbitration Centre under the dispute resolution mechanism of the PPA. The disputed amount of Rm266 million has been disclosed as contingent liability in the Annual Report 2022. CMSB , MPA (Malaysia Phosphate Additives) n Tradewinds Plantation set up CMPI with shareholding of 60%, 27% n 13% respectively. Khazanah has 40% shareholding in MPA. Don't think SESCO would want to sink CMPI operations, causing financial n commercial harm to Sarawak industrial eco system.
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Posted by sivapakiam311056 > 2023-04-11 17:36 | Report Abuse
n exit