OM Holdings Ltd (OMH) said the recent unprecedented increase in international prices for ferrosilicon (FeSi) was due in part to government policies in China in relation to the ongoing power shortage there.

It said the power rationing being imposed on energy-intensive industries there has limited ferroalloy production and caused Chinese ferroalloy futures to surge to historical highs.

https://www.thestar.com.my/business/business-news/2021/10/04/ferrosilicon-price-hike-partly-due-to-china-policy-freight-rates

What's ferrosilicon

https://youtu.be/iQxTv8fMC48

我終於發現了一個秘密. 我能靠股票賺錢生活並不是我厲害,聰明和反應快. 自己的寫作能力比人家差, 科學不理想, 算數也好不到哪裡去... 這樣子也能靠股市生活也有點可笑. 我今天才發現原來在股市中玻璃心的人多所以我才能混得下去. 感恩!

黃明志新歌「玻璃心」

https://youtu.be/-Rp7UPbhErE

Charlie. I am merely an armchair analyst sharing my knowledge. Let's know if there is any adhoc incident in Sarawak affecting CMSB.

OMMS is involved in Smelting business and it is the biggest contributor to OMH. OMH has 2 operations in smelting business, OMMS and the other one in China. OMMS business is much more bigger size than the China smelting segment.

The operation results of OMH can be downloaded at http://www.omholdingsltd.com/investor-relations/asx-announcement/asx-announcements/

OM Materials Sarawak (OMMS) is the 75% subsidiary of OMH and remained 25% owned by CMSB.

OMH announces half yearly operation results only. CMSB should have the quarterly financial figures from OMMS for consolidation its quarterly report.

Mind your words and karma super smart people for simply talking of nonsense. Hahaha

Free lunch in Bursa is not available most of time for an armchair analyst ...work...Hahaha

Ok. I get back to work harder with my research again. Hahaha

Don't use the microscope to see your negative views or fear while all these negative views or fear don't support with facts or reasonable...other than our own projection results from using a super duper microscope...Super smart people would say treasurehunt is hard selling again. Hahaha

I would respect the super smart people if he tell about the negative news or facts for example... CMSB'phosphate factory in deep shit after you have found out something your self personally with justification.

Finally, a slight positive word comes out from the super smart people. Imagine your platform of attacking is full of what? ... Treasurehunt is hard selling, treasurehunt con, treasurehunt bring you to Holland, treasurehunt.... All negative words without a real justification other than awaiting KPMG report.

Super smart people’s potential emotions response to CMSB share prices:

1. Price rebounded from RM 1.05 to 1.4 ( this is a dead cat bounce )
2. Price dropped from RM 1.4 to 1.2 ( I told you so )
3. Price up from RM 1.2 to 1.4 (this is a double top formation & treasurehunt is hard selling)
4. Price up from RM 1.4 to 1.5 ( KPMG report will be ugly so I wait & treasurehunt bring you to Holland )
5. Price up from RM 1.5 to 1.7 ( KPMG report out and I can’t believe it )
6. Price up from RM 1.7 to 2.0 ( this is frustrating)
7. Price up from RM 2.0 to 2.5 (everyone’s going to lose their shirts)
8….
9….
10…

Dumb investors are picking up more during the recovery period which is heading north. The super smart people base on his expert in reading chart in giving out his wisdoms, warnings, teaching or fortune telling.

During the recovery, the super smart people would drop by here giving out his wisdoms, teaching or fortune telling based on his emotions for enjoying fun/syok from bashing nonsense here.

If this forum crowded with all these super smart people, it would have become a wet market.

Super smart people come out expressing his wisdom or teaching again... Hahaha

They are being super smart and love only expressing (enjoy) grievances and bashing without solid facts. Therefore, they don't like spending time to learn and share their research.

We come here to learn and share our findings(homework) to look for treasure in the Bursa. Where got so much time spending on fun/syok or bickering with the retiree who don't really want to make money in Bursa .

They are being too smart for not doing homework and love looking for syok here from quarrelling or bickering.

We are here being dumb to make money. Retiree are being super smart and comes here looking for fun/syok or bickering.

Retiree is being too free and do nothing other than pretending... Go to to do your homework la. Don't come here to look for fun or syok.We come here to make money.

Bumper earnings in Associate, OM Materials.

https://www.thestar.com.my/business/business-news/2021/10/18/om-holdings-poised-for-bumper-earnings

There are few one-off impairment in CMSB in year 2020. The owner doesn't feel comfortable with it.

1.The Group also recognised an impairment loss of RM51,753,000 (2019: Nil) on the
construction in progress in relation to phase 2 of an integrated phosphate complex project
during the financial year.

2. CMSB booked heavy losses in Associate, OM Materials, for year 2020 is due to one off subscription of ICPS.
Exercise of call option on Excess Irredeemable Convertible Preference Shares (“ICPS”)
In 2018, pursuant to the Share Subscription Agreement with OM Materials (Sarawak) Sdn. Bhd. (“OM Sarawak”), OM Materials
(S) Pte. Ltd. (“OM Singapore”) exercised its option to call upon the non-controlling interest shareholder of OM Sarawak to sell
66,309,700 units of Excess ICPS in OM Sarawak to OM Singapore for a total consideration of A$25,040,000.

3.The Division's PBT was also affected by Samalaju Hotel
Management Sdn. Bhd.'s impairment on property, plant & equipment and Samalaju Properties
Sdn. Bhd.'s project costs written off amounting to RM11.26 million and 5.19 million respectively.

4.
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.

5. Impairment on Intangible assets RM 7.8 million

CMSB is currently traded at forward PER 8x...another piece of hardsell again. Hahaha

CMSB operation results half Year 2021
41.5m - Cements
2.7m - Trading
4.5m - Road maintenance
11.3m - Property Development
-11.1m - Phosphate (included forex loss RM 9.2m in USD borrowing)
0.7m - Strategic Investment

14.7m - Share Profit of Associate ( KKB & Kenaga )
33.4m - Share Profit of Associate (Sacofa )
13.2m - Share Profit of Associate ( OMM )
12.7m - Share Profit of JV (SEDC & PPES & etc)

Not bad this morning. KPMG report will be the good news to CMSB. I come here to hardsell again. Hahaha

General can segment in both Canone & Ablegroup to workout the PBIT margin. Ablegoup apparently enjoyed one off gain from hiking ASP and stocking activities in 3rd quarter 2020.

CanOne:
30 Jun 21 - 13%
31 Mar 21 - 10%
31 Dec 20 - 11%
30 Sep 20 - 5%

Ablegroup:
30 Jun 21 - 20%
31 Mar 21 - 17%
31 Dec 20 - 7%
30 Sep 20 - 24%

I am interested in the making money. Not interested in bickering with nonsenses.

Summarised comparative data between CanOne and Ablegloble.

CanOne:
PER : 6x
NTA : 9.74
Price /NTA : 0.50x
Gearing : 0.65

Ablegloble :
PER: 12x
NTA : 1.21
Price/NTA : 1.44x
Gearing : 0.46 (included loan for acquisition of lands)

CMSB is the fund managers baby. What retailers can do is watching their shows.

Aluminium cans segment (AR 2020)

Aluminium cans are one of the most recyclable package types available in the industry which offer numerous packaging benefits: long shelf life, light weight, easy to handle and carry, high strength, corrosion resistance and moisture free. As a result, the products are gaining global prominence. The rising eco-consciousness and recycling of the aluminium cans are the major trends which will drive the industry growth. Aluminium cans produced by the Group are primarily used as packaging material for single serve, ready to drink carbonated and non-carbonated beverage industry.

There are only 2 manufacturers for aluminium cans in Malaysia although it is possible for domestic beverages manufacturers to import empty cans from suppliers aboard. The majority of aluminium cans produced by the Group are to cater to the domestic beverage manufacturers. Hence, the growth of aluminium cans business is dependent upon the demand at the end-consumers, whether from domestic or overseas market. The Group’s direction of targeting and developing new export markets has been positive and which are expected to consume the existing excess capacities.

The Group’s entity in Myanmar commenced commercial operation in the first quarter of FYE 2019. In its second year of commercial operation, the Group consolidated Myanmar entity’s revenue amounting to RM94.5 million (FYE 2019 : RM69.1 million (2)) and a LBT of RM9.1 million (FYE 2019 : LBT of RM10.4 million (2)). As a green field project, the Group anticipates the entity to contribute positive results after 4 to 5 years from its commencement of operations. Demand for aluminium cans is anticipated to increase when the growth momentum in Myanmar gathers
pace.

1.4 is cracking... Money money

7. KPMG investigation report will be ultra ugly and spooking investors. CMSB will announce the KPMG findings by the end of October.
Answer : CMSB said that independent review has been completed by KPMG and legal investigations of the said investments and contracts are still ongoing.As far as i know, legal investigations is such a gathering together of facts in a situation which will be tried in the court. CMSB may take legal action against the previous management for mishandling the company affairs and possible of white-collar crime action.
I can't think of other ugly areas in the accounts which will be affected the company substantial future cash out flows to the company. The accounts looks good except 60% ownership of the Phosphate division investment which is not audited by EY. CMSB does not enter into any commodity contract posting the unaccountable risks. Any ideas of the potential risky area?

"KPMG MRC has completed its reports, the legal investigations of the said investments and contracts are still ongoing. The Company expects the complete results of the review to be announced by the end of October 2021."

6. CMSB case sharing the similar common scandal issues with Transmile

Answer : Transmile scandal is not as complexed as it seen. Inflated Receivable and rapid depleting cash in Bank in a short period are the good warning signals. As far as i know, Transmile had been enjoying robust revenues growth in 3 years and Receivable inflated to 381 millions for 2006 or surged 270m in comparison to the previous year. In addition, cash flows from operation activities substantially dropped from 161 million to 18 million in 2006.
CMSB doesn't face any inflated Receivable or depletion of cash flows. CMSB net cash used in operating activities is merely 1.5 million in 6 months results to 30 Jun 21.

Investment securities 409 million
Cash and bank Balance 375 million
Non Current Loan 325 million
Current loans 588 million
Net Bank loans 129 million

CMSB's Receivable was merely 152 million or reduced by 30 million in comparison to the 4th Qtr 21. Inventories remained 330 million

I have to admit that we are more sophisticated than layman investors. They are really badly informed through reading news on the press.

Here's the summary of his concerns raised by Anson:

1. CMSB's CFO has resigned from his employment.
Answer: CFO was fired through non renewal of the employment contract

2. Group MD has resigned from his employment.
Answer : Group MD was seen forced from early retirement through the transitional plan

3. Lembaga Tabung Haji (LTH) dumping the shares.
Answer : LTH remains the substantial shareholder held 7.57% after trimming its stakes.

4.EPF ceased to be substantial shareholder
Answer : It's hard to gauge EPF direction. They even ceased to be the substantial shareholder of TAAn in Aug 21.

5. CMSB's case sharing the similar commonity with Serbadk.
Answer : CMSB has delayed disclosure of the KPMG findings until end of October as legal investigations is underway. This, is what really different from Serbadk.

Anyway, thanks Anson...He has triggered me to look for more information about 'legal investigations'. No more nonsense now. hi hi.

Not interested in entertaining people who is intending simply tembak for pleasure rather than exchanging knowledge. I come here to make money. Time will tell soon. Hahaha

Simply tembak again... 3.5? Go to check when i started posting in CMSB thread la.

What have you guys learned from Transmile & Serbadk cases... simply tembak for pleasure?

EPF God like analyst good man.....EPF still keen on winding up Transmile which ownes RM 500 mil old story

https://www.thestar.com.my/business/business-news/2010/09/29/epf-still-keen-on-winding-up-transmile-which-owes-rm500mil

Full story of Transmile just in case you have forgotten some details... For reading pleasure.


https://so04.tci-thaijo.org/index.php/NCRJ/article/view/25093/21369

My analysis is based on facts not what I heard... gullible again worshipping God like analyst. I don't have to cari makan in Bursa anymore.

positive assessments on the company’s prospect and lofty target prices.These, despite the fact that profit growth were unusually high – a common general red flag for financial statement fraud. One of the leading local research houses was rating Transmile’s share as a “strong buy” with an expected total return exceeding 20% in the next 12 months, underpinnedby the reported net profit growth of 110.5%. An analyst explained thatthis was mainly due to the increase in aircraft capacity in 2006,contributed by the arrival of four MD-11s in September 2005. Curiously enough, the research house’s own estimate on the Transmile’s profitwasn’t that far off, but merely by 1.5% than that of Transmile’s own inflated figure. Other analysts were not bad either in their estimates, with Transmile’s figures were just 4.6% above consensus. This gave riseto suspicion that the analysts could have gotten wind of the informationfrom insiders in Transmile

AnalystsTransmile had always been one of the favorite companies forinvestors and analysts alike. Its share price had risen by 428.3% since2003 and analysts had always maintained bullish views on Transmile.Key points that were usually highlighted by analysts were, Transmile’s strong growth in earnings; its five year pact with DHL, as its strategic partner; its landing rights in various cities around Asia, freedom rightsout of Hong Kong and China to the US; its increasing capacity includingthe four long haul and fuel efficient MD11 planes freighters; and thecompany’s strong and reputable shareholders such as The Kuok Groupand Pos Malaysia. In order to encourage a better understanding of the company’s performance and latest developments, Transmile had also conducted several briefing sessions to interested fund managers and analysts and “one to one” dialogue sessions upon request. AdvocacyOn 15 February 2007, the company released its unaudited 4th Quarter of 2006 report. Both local and foreign analysts, agreed with it by giving

From the operation activities to service the interest payments of the debts. The drop also gave rise to concerns on its ability to finance its futuregrowth as seeking funds maybe more expensive in the future. Transmile’s cash and bank balances as at year-end 2006 stood at RM417 million. Of this amount, only a meager RM18 million came from its operating activitieswhile much of it, RM260.7 million was from the previous year and RM287 million from the issuance of new shares.

Transmile...Go to read the story before tembak again.

While many analysts were focused on the earnings and company’s
prospects, there were other indicators that could have a material effect on
the investors’ decisions to invest in the company but were largely missing
from many analysts’ reports. Despite being a strong growth company,
Transmile had not really been able to turn its sales into cash. Transmile’s
trade receivables had been building over the years with trade receivables
for 2006 were reported at RM381.2 million, which was a 243% jump or
RM270.1 million more than the previous year, while growth in 2005 was
5% and 2004, 46.1%. With revenue recorded increase of 80% or RM439.1
million during the same year 2006, receivables accounted for much more
of the company’s revenue growth. Since trade receivables could have
influence on the profitability reported, it would be prudent for analyst to
be on the alert as these trade receivables could easily be re-classified as
doubtful debts.
The cash flows from the operation activities substantially dropped
from RM161.2 million in 2005 to RM18 million in 2006, which resulted
in the company not having sufficient fund from its operating activities
to service the interest payments of existing debt which stood at RM36.5
million. The shortfall had been financed by its cash flow from financing
activities. Given the substantial drop in the operating cash flow and the
level of debts, question lingered over the sufficiency of the future cash flow

Switch to Transmile scandal ...Wait ah

CMSB's previous management team was appointed by the Owner, Taib. family, included Group MD (appointed director). Serbadk MD is the owner cum MD man. See the difference picture or not?

Legal investigations..Possible of white-collar crime man. who will be the one do the legal investigations? KPMG, lawyer or Prosecutor (police) ?

Did you hear any 'legal investigations' in Serbadk after few months of ding-dong?