Posted by pang72 > 2014-04-23 18:46 | Report Abuse

It is not too long time for the split. .approx. one month from now. Wait LA...

Posted by pang72 > 2014-04-23 18:47 | Report Abuse

Up few sen better than none. No invite uma....

Posted by pang72 > 2014-04-23 19:08 | Report Abuse

Jackson....INI dsonic punya shareholder banyak ada frustration. Saya cakap sukasuka shj mau kacau di cmsb forum pun kena hamtam....byk gangster lor

Posted by pang72 > 2014-04-23 19:09 | Report Abuse

Tunggu sikit tengok....ada orang marah wah kah?

Posted by jackson87 > 2014-04-23 19:24 | Report Abuse

Pang
Siapa berani lawan Lu?

Kekekekekke

Posted by pang72 > 2014-04-23 20:09 | Report Abuse

Jackson . Wah tak suka lawan la.....wah kat cmsb sudah siok siok tunggu durian jatuh hari hari...bky ada sukahati....lawan byk byk sudah sakit hati buat apa....lalalalalala

Posted by pang72 > 2014-04-23 20:09 | Report Abuse

Sikit sikit jadi bukit....Gunung jadi nanti...lalalalalal

Posted by Eastern_Tea > 2014-04-24 16:21 | Report Abuse

Today economic not good...XD

Posted by bing > 2014-04-25 05:47 | Report Abuse

Green sight enough.

Posted by masteragu > 2014-04-25 11:17 | Report Abuse

sigh ...KLCI sudah pancit ini hari. :(

Posted by winwin007 > 2014-04-25 12:03 | Report Abuse

wait till my neck long long on the unit split....sigh

Posted by masteragu > 2014-04-25 12:11 | Report Abuse

why such a huge drop ?

Posted by joe2014 > 2014-04-25 12:13 | Report Abuse

hope drop more i can buy more like dsonic

Posted by 8wpwtmt8 > 2014-04-25 16:08 | Report Abuse

Just sense that something is not right. The global share markets might face huge corrections. They are way too high. The bubble will burst due to over evaluation. Dow Jones might collapse 500 points or more. Even laggards Scable also moves today. This is an end sign to the bull run.

Posted by steady > 2014-04-25 16:58 | Report Abuse

sideway still intact. trade with own risk

Posted by steady > 2014-04-25 18:42 | Report Abuse

Bwpwtmt8, u say stupid statement.

Posted by masteragu > 2014-04-28 14:30 | Report Abuse

steady, if sideway, whats the nx resistance?

Posted by Eastern_Tea > 2014-04-28 16:47 | Report Abuse

Today drop again...XD

Posted by pang72 > 2014-04-28 19:59 | Report Abuse

Wait lor

Posted by Tan Wan Ting > 2014-04-29 07:08 | Report Abuse

http://www.theedgemalaysia.com/business-news/287228-stocks-to-watch-sarawak-counters-industronics-mnc-visdynamics-xinghe-sime-sp-setia-eao-mahb-tambun-indah-gamuda.html

Posted by Stockman > 2014-04-29 08:58 | Report Abuse

Time for other banks to make business in Sarawak

Posted by 2767max > 2014-04-29 16:48 | Report Abuse

HSBC to withdraw from Sarawak,i dont think this is a big problem to CMSB,so dont worry.

Posted by 8wpwtmt8 > 2014-04-29 16:54 | Report Abuse

Will the crash from RM9.72 to RM9.20 on 14.04.2014 repeat itself tomorrow? Last time it was saved by the approval of bonus/split approval. If really happens this time got no catalyst. Quite worry.

Posted by Eastern_Tea > 2014-04-29 17:16 | Report Abuse

Wow...finally jump up again...steady la...

Posted by Eastern_Tea > 2014-04-29 17:35 | Report Abuse

According to the yc invest articles and look into its historical prices, this is the third round of waves from 9.000 to 10.000, after that it will start rocketing... hopefully it's true...Haha...

Posted by Eastern_Tea > 2014-04-29 18:02 | Report Abuse

CMSB will owez give us unexpected surprize in the end...

Posted by pang72 > 2014-04-29 19:15 | Report Abuse

Hsbc bank withdrawn will not giving any effect to sarawak counter. Hsbc only will lost the customer based. Hsbc will losing the opportunity participate the score project. We have maybank,cimb,ammb,pbb,hlbank and many others banker are loughing that hsbc being KICK OUT......

Posted by pang72 > 2014-04-29 19:16 | Report Abuse

Last minute gap up....good sign.

Posted by Stockman > 2014-04-29 19:20 | Report Abuse

HSBC is losing touch of Sarawak booming now

Posted by limayseng > 2014-04-29 19:31 | Report Abuse

Split shares and bonus after split will be the holding power for this stock in addition it is the real "growth stock" because it was traded at much a lower price at a dollar plus during its launch a few years ago but now it is already RM 10 share . make no mistake to hold this share for at least 1-3 years to realize its actual worth. After the split n bonus , a share will become 3 shares and its potential of going up to RM 10 will be the focus after the said exercise.

Posted by pang72 > 2014-04-29 20:47 | Report Abuse

Yes......split to 3 then go to 10again

Posted by pang72 > 2014-04-29 21:58 | Report Abuse

Us market gap up.......wowowo.....klse will be gap up too

Posted by Dkwee > 2014-04-30 10:26 | Report Abuse

What happen to cmsb....lao sai today...shit....any bad news?????

Posted by jaijai > 2014-04-30 10:33 | Report Abuse

Run .............

Posted by cspettham > 2014-04-30 10:49 | Report Abuse

Additional listing of Employees' Share Option Scheme
30/04/2014 of 2,555,300
Issue price per share ($$) : MYR 2.200
and 1,255,900
Issue price per share ($$) : MYR 2.230
Employees are selling for quick profits.

Posted by steady > 2014-04-30 11:04 | Report Abuse

good to be the employees :)

Posted by choop818 > 2014-04-30 11:59 | Report Abuse

Employees likely not the sellers. They would want to benefit from the split and bonus issue. May be a good time to accumulate as the price should move up again as the EGM nears.

Posted by Eastern_Tea > 2014-04-30 13:20 | Report Abuse

Today CMSB stomachache...

Posted by johnny cash > 2014-04-30 13:55 |

Post removed.Why?

Posted by johnny cash > 2014-04-30 13:56 | Report Abuse

KEY FINANCIALS
Year to 31 Mar (RMm) 2012 2013 2014F 2015F 2016F
Net turnover 1,204 1,418 1,453 1,514 1,565
EBITDA 286 375 431 460 475
Net profit (adj.) 136 175 204 240 269
EPS (sen) 41.4 53.5 62.1 73.2 82.1
PE (x) 23.8 18.4 15.9 13.5 12.0
P/B (x) 2.2 2.0 1.8 1.6 1.5
EV/EBITDA (x) 10.5 7.9 6.9 6.3 5.7
Dividend yield (%) 1.7 1.7 1.9 2.2 2.5
Net margin (%) 11.3 12.4 14.0 15.9 17.2
Net debt/(cash) to equity (%) (29.1) (31.0) (31.4) (34.9) (42.4)
Interest cover (x) 20.4 66.6 25.2 26.3 27.1
ROE (%) 9.1 10.6 11.3 12.2 12.5
Consensus net profit 202.5 248.3 307.0
UOBKH/Consensus (x) 100.5 96.6 87.7*

Posted by johnny cash > 2014-04-30 13:57 | Report Abuse

INVESTMENT HIGHLIGHTS
 3-year earnings CAGR of 15%. We forecast CMS earnings to grow by 3-year
CAGR of 15% from RM175m in 2013 to RM269m in 2016, spearheaded by its
SCORE investments. Despite the commencement of the OMS plant in 2H14, we
expect meaningful earnings contribution to flow in from 2015 onwards as it takes
approximately one year to ramp up to full production. Apart from OMS, the group’s
bottomline is also underpinned by other business segments, riding on Sarawak’s
infrastructure growth.
 Steady cash flow from cement division. Being the only cement player in
Sarawak, CMS cement division has been churning out steady cash flows of around
RM90m p.a. to the group. Currently, CMS’ two grinding plants are running at 97%
utilisation rate and it is in the midst of building a third grinding plant, increasing
production capacity by 57% to 2.75mtpa. Owing to strong competitive edge, cement
division has recently raised prices by 5-9% to offset an increase in production costs.
CMS’ strong advantage as a monopoly is also evident in the superior margins
fetched compared to Peninsular peers.
 Healthy balance sheet and solid dividend policy. As of end-2013, CMS is sitting
on a huge cash pile of RM513m, giving management a sizeable war chest to
participate in value-enhancing investments to shareholders (eg.OMS). We gather
that management is studying a few proposals and will only invest if the project meets
an internal hurdle rate of 18%. In addition, CMS has committed to a 30% dividend
payout policy, providing investors visibility on future dividend in-flows. We reckon
there is scope to increase dividend payout as OM Sarawak begins to churn positive
cash flows to the group from 2015 onwards.
 Remarkable track record. Helmed by competent professional managers, CMS has
embarked on corporate restructuring since 2008, after hiving off its stakes in noncore
businesses such as UBG Group and RHB Bank. The renewed focus has led to
delivery of commendable profits, with the group achieving net profit CAGR of 44%
over the past four years, effectively shrugging off initial scepticism over its
shareholding links to family members of the previous Chief Minister of Sarawak.
FIGURE 1: KEY BUSINESS SEGMENTS

Posted by johnny cash > 2014-04-30 13:58 | Report Abuse

INDUSTRY HIGHLIGHTS – SCORE
 Significant value from SCORE projects. With committed investments of up to
RM800m, CMS is most leveraged to the thriving economic corridor, and is expected
to derive about RM90m PBT in 2016 from its SCORE projects, or 21% of group’s
total (2013: 30%). On top of being the master developer of Samalaju Industrial Park,
CMS has also invested in i) a 20% stake in OM Materials Sarawak (OMS), which
aspires to be the world’s lowest cost ferro-alloy producer and ii) a 40% JV to develop
Southeast Asia’s first integrated phosphate plant. All these projects combined
(excluding phosphate project) will contribute approximately 15% to CMS RNAV.
 Key economic corridor to drive Sarawak’s GDP. Launched in 2008, SCORE is
one of the key economic corridors established by the Federal government and the
Sarawak state government with land area spanning over 70,000 sq km and
population of more than 600,000. It is a multi-year project with planned investments
of RM334b, of which 80% will be contributed by the private sector, aimed at
accelerating the state’s economic growth.

Posted by johnny cash > 2014-04-30 13:58 | Report Abuse

KEY SCORE AREAS
Area Developments
Samalaju Heavy and Energy Intensive Industries
Tanjung Manis Halal hub
Mukah Smart city
Baram Hydropower and oil palm
Tunoh Oil palm & Eco tourism
Source: RECODA, UOB Kay Hian

Posted by johnny cash > 2014-04-30 13:59 | Report Abuse

Samalaju – the backbone of SCORE. There are five major areas identified within
SCORE and Samalaju has been earmarked as the backbone (refer to top RHS
table), concentrating on heavy and energy-intensive industries. With a deep sea port
currently under construction (full completion in 2016), Samalaju stands out due to
attractive energy rates offered and its strategic location within close proximity to
economic powerhouses such as China and Japan. To-date, Samalaju has managed
to attract foreign investments of up to US$9b including the likes of reputable players
such as Tokuyama and Press Metal (refer to bottom RHS table).
 Attractive energy rate from hydropower. Due to its geological formation, SCORE
has an abundance of natural resources, including clean and safe renewable
resources like hydropower. As a result, SCORE is able to offer attractive energy
rates, which we understand to be 40-50% cheaper compared to other places in the
region. Currently, most of the energy source comes from the gigantic Bakun dam
which has a capacity of 2,400MW. In anticipation of more energy needs at SCORE,
state government has begun the planning process to build more water dams. It was
recently announced that the State is planning to build the proposed Baram and
Balleh dams with installed power capacity of 1,200MW and 1,295 MW respectively.

Posted by johnny cash > 2014-04-30 14:00 | Report Abuse

KEY PROJECTS AT SAMALAJU
Company Product (US$)
Tokuyama Polycrystalline Silicon 2.5b
Press Metal Aluminium 1.0b
AML Manganese 325m
Asia Advanced Minerals Metallic Silicon 203m
Sakura Ferroalloys Ferro & Silicon
Manganese
328m
Source: CMS, UOB Kay Hian

Posted by johnny cash > 2014-04-30 14:01 | Report Abuse

OM Sarawak (OMS)
 Major earnings kicker. Upon full production of Phase 1, OMS is expected to
contribute PBT of RM63m, or around 21% of the group’s 2013 total. We have
conservatively assumed 20% PBT margin with an ASP of US$1,500/tonne, giving
the company an IRR of 16% for the investment.
 Phase 1 to commence in 2H14. In partnership with OM Holdings (OMH AU), phase
1 of the OMS project, costing around US$424m, will have a total production capacity
of 308,000 MTpa for ferrosilicon alloys. It is expected to commence operations in
2H14 with full commission of plant anticipated a year later. As for Phase 2, we
understand that construction for the Manganese alloy plant should begin in late-
2014, with commencement expected 18 months after.
 Essential to steelmaking. Ferrosilicon is a raw material used in the de-oxidation
process to prevent loss of carbon from molten steel. It is essential to steelmaking
and demand for the product is expected to grow in tandem with global steel
production, which grew at a CAGR of 6% in 2004-13. Over the past 10 years, steel
production growth was mainly driven by Asia which accounts for 60% of world
production capacity now, as compared to 40% previously.
 Competitive power cost a major oomph. As power makes up to approximately
50% of the total operating cost, OMS has a major cost advantage against its global
peers due to the competitive 20-year power purchase agreement secured from
Syarikat Sesco Berhad. Effectively, OMS will pay an average of about US$5.5c/KWh
over the next 20 years, which we understand to be at 40-50% discount to the rates
incurred by its competitors.
 5-year tax holiday. Granted a pioneer tax status, OMS will enjoy tax holiday for five
years upon commencement of production. Furthermore, it will also enjoy zero import
and export duties, thus being able to price its products competitively.
 Close proximity to key Asian markets. Setting up the smelter plant in Samalaju
gives OMS a vital location advantage, being in close proximity to key economic
powerhouses such as China and Japan, which account for some 60% of the global
steel production. On top of convenient access to these key markets, OMS will
benefit from lower transportation costs for both raw materials supply as well as
delivery of end products to customers.
 60% off-taking secured. Leveraging on its partner’s (OM Holdings) strong
customer database, OMS has secured 60% binding off-take agreements with
customers such as JFE Shoji and Hanwa for its phase 1 production. The remaining
40% will be sold on the open market, allowing them to earn better margins.

Posted by johnny cash > 2014-04-30 14:02 | Report Abuse

PHASE 1 OF OMS
Capex RM1.4b
Ownership OM Holdings – 80%
CMS – 20%
Financing Equity – 70%
Debt – 30%
Capacity 308,000 MTpa of ferrosilicon alloys
Off-take 60% secured
Commission 2H14 with full production expected in 2H15
Source: CMS, UOB Kay Hian

Posted by johnny cash > 2014-04-30 14:03 |

Post removed.Why?

Posted by johnny cash > 2014-04-30 14:03 | Report Abuse

MPAS PROJECT
Capex RM1.04b
Ownership CMS – 40%
MPA – 40%
Arif Enigma – 20%
Financing Equity – 30%
Debt – 70%
Capacity 500,000 MTpa of phosphate products
450,000 MTpa of Coke
Off-take Plans to secure off-take of up to 60%
Commission 1H16 with full production expected in 1H18
Source: CMS, UOB Kay Hian

Posted by johnny cash > 2014-04-30 14:04 |

Post removed.Why?