Posted by kokchengkai > 2021-10-09 11:16 | Report Abuse

https://www.theedgemarkets.com/article/process-build-over-600-telco-towers-sarawak-begin-month-%E2%80%94-annuar

Sarawak got big telco tower project
CMSB subsidiary Sacofa makan udang

Posted by Targeted > 2021-10-09 11:53 | Report Abuse

Monday = long green candle.....

Posted by monetary > 2021-10-09 12:31 | Report Abuse

telco tower = udang. road n bridge = upgraded to lobster. cement n steel additives = Boston lobster!

Posted by treasurehunt > 2021-10-09 13:57 | Report Abuse

“ Since its inception, SACOFA has built and acquired more than 1,800 telecommunication towers throughout the state of Sarawak to cater to the network expansion needs of cellular operators and other organizations.

To help new operators roll out their wireless networks in Sarawak, we offer our completed towers to share among networks with our streamlined process. Our charging principle is based on a non-discriminatory and fair basis. “

Posted by treasurehunt > 2021-10-09 14:01 | Report Abuse

“ SACOFA SDN BHD (552905-P) is the leading telecommunication infrastructure provider in Sarawak.

SACOFA’s primary objective is to promote common sharing of telecommunications infrastructure amongst operators, enabling speedy and cost effective service roll-out throughout Sarawak.

TYPE OF STRUCTURES OFFERED BY SACOFA
Rapole (Ranging From 12m to 30m)
Lamp pole structure (24m)
Monopole (ranging from 24m to 45m)
Monopole Tree (ranging from 36m to 45m)
3 legged Tower (ranging from 45m to 120m)
4 legged Tower (ranging from 45m to 120m)
Rooftop

Posted by treasurehunt > 2021-10-09 14:07 | Report Abuse

Sacofa shareholders:
CAHYA MATA SARAWAK BERHAD ( 50.00% )
STATE FINANCIAL SECRETARY ( 20.51% )
CELCOM AXIATA BERHAD ( 15.12% )
SARAWAK INFORMATION SYSTEMS SDN BHD ( 7.57% )
YAYASAN SARAWAK ( 6.80% )

STATE FINANCIAL SECRETARY
State Financial Secretary’s Office is the State Financial Authority under Financial Procedure Act, 1957 and responsible for financial management in Sarawak. State Financial Secretary’s Office is also a body corporate established on 2nd January 1948 under State Financial Secretary (Incorporation) Ordinance (Cap. 103). The appointment of State Financial Secretary’s Office is subject to Article 11 of the Sarawak State constitution.

SARAWAK INFORMATION SYSTEMS SDN BHD
In the mid 1980's the use of IT among state government agencies in Sarawak started to grow. Shortly thereafter, in 1991, SAINS, then called Sarawak Computerisation Services Sdn. Bhd. was formed. SAINS was given the task of spearheading the development and implementation of IT within the Sarawak State Government to better integrate and utilize its resources.

Posted by treasurehunt > 2021-10-09 14:16 | Report Abuse

Sarawak state government holds almost 35% stakes of SACOFA. Regarding to Jendela project, who has the higher chances of getting bigger pie?

Posted by treasurehunt > 2021-10-09 14:40 | Report Abuse

Sarawak got big telco tower project
CMSB’s Associate, Sacofa makan udang galah

Posted by treasurehunt > 2021-10-09 18:46 | Report Abuse

Operation results of CMSB is mainly divided into few segments:

Year 2020
48.4m - Cements
3.8m - Trading
19.1m - Construction & Road maintenance
-5.3m - Property Development
-2.4m - Phosphate (Excluded impairment 51.8m)
5.6m - Strategic Investment

30.8m - Share Profit of Associate ( KKB & Kenaga )
-23.7m - Share Profit of Associate ( OMM )
41.7m - Share Profit of Associate ( Sacofa )
0.7m - Share Profit of JV (SEDC & PPES & etc)

Year 2019
73.1m - Cements
9.0m - Trading
37.2m - Construction & Road maintenance
20.1m - Property Development
-2.5m - Phosphate
-3.3m - Strategic Investment

19.1m - Share Profit of Associate ( KKB & Kenaga )
-0.8m - Share Profit of Associate ( OMM )
41.5m - Share Profit of Associate ( Sacofa )
-0.6 m - Share Profit of JV (SEDC & PPES & etc)

Posted by treasurehunt > 2021-10-09 18:49 | Report Abuse

AR 2020
Sacofa, 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.

Posted by treasurehunt > 2021-10-09 20:07 | Report Abuse

Both OM Materials (OMM) and Sacofa are not listed entities. Therefore, their operations performance will only be revealed in the Annual Audited Accounts.

Cement division bottom line is catching up and may surpass year 2019. JV SEDC & PPES remains profitable after disposing 2% stakes and reclassified as JV.

What really interesting is profit generated from OMM & Sacofa surged to 46m in 6 months performance. We will see a record breaking profit in future when Jendela project kicks off and high profit contributed from OMM as FeSi prices rally.

CMSB operation results half Year 2021
41.5m - Cements
2.7m - Trading
4.5m - Road maintenance
11.3m - Property Development
-11.1m - Phosphate
6.1m - Strategic Investment

15.2m - Share Profit of Associate ( KKB & Kenaga )
46.0m - Share Profit of Associate ( OMM & Sacofa & etc)
12.8m - Share Profit of JV (SEDC & PPES & etc)

Posted by Diamond7 > 2021-10-09 21:21 | Report Abuse

Strong profits coming!
Good potential...
Buy lor....
Good luck!!!

Posted by monetary > 2021-10-09 21:51 | Report Abuse

One of the agenda in 12MP is to restructure water supply. KKB is pipe manufacturer n contractor.

Posted by treasurehunt > 2021-10-10 09:38 | Report Abuse

Profit contributed by Sacofa is rather stable, about 42m per year ,in the past few years. With the assumption of Safico generated average 21m for the 1st half 2021, the remaining 25m is reasonably expected deriving from OM Materials, 75% owned by OMH.

Sacofa PBT:
FY 2020 - 114m
FY 2019 - 113m
FY 2018 - 105m
FY 2017 - 106m

Posted by treasurehunt > 2021-10-10 09:46 | Report Abuse

OMM contribution is expected far more than 25m given strong demand of ferrosilicon and robust selling prices in the next 6 months.

Posted by treasurehunt > 2021-10-10 10:11 | Report Abuse

OMH’s smelting segment (mostly derived from OMM operations ) has reported PBT AUS 40.5 million for the 1st half 2021. After deducting CIT 24% and translating into RM, we would arrive Associate (OMM) contribution RM 23.8m which is rather close to the above calculations of RM 25m.

Posted by wssvin > 2021-10-10 10:47 | Report Abuse

Thanks you treasurehunt/monetary/Luckboy88 for your valuable messages..

Posted by treasurehunt > 2021-10-10 11:53 | Report Abuse

On the surface, CMSB doesn’t seen sharing much profit from OMM for merely holding 25% stakes. You would be surprised to know the results of comparison between OMH and OMM contribution to CMSB. OMH has reported AUS 17.4 million ( RM 54 million ) PAT attributed to the owner of company whereas CMSB shared PAT RM 25 million from OMM. It’s almost half of OMH entire profit.

Posted by treasurehunt > 2021-10-10 12:11 | Report Abuse

Market cap of CMSB stands half of OMH. It’s quite reasonable if CMSB holds 25% stakes in OMM without other businesses.

Market Cap comparison:
CMSB - 1.46 billion
OMH - 2.9 billion

What’s your take on CMSB? Besides OMM, they owned cements business, 50% Sacofa, Associate KKB & KENAGA, JV construction business with Sarawak government.

Posted by Targeted > 2021-10-10 12:54 | Report Abuse

Yup, the Sarawak plant is the the Crown Jewel of OMH!.......

Loaded up CMSB last week....

Posted by charlie chia > 2021-10-10 12:59 | Report Abuse

At this price and Sarawak election is near the corner
Further KPMG investigation report will be out soon
Anticipating this counter will fly to above Rm2.00 with the improvement results
What to wait now
Durian is going to fall soon
Put our fingers crossed

Posted by Diamond7 > 2021-10-10 13:57 | Report Abuse

Buy more lor...
Dun wait...
Good luck!

Posted by treasurehunt > 2021-10-10 14:05 | Report Abuse

I didn't know much things behind CMSB until I started digging for more information since 3 days ago. Ready....

Posted by charlie chia > 2021-10-10 14:07 | Report Abuse

Treasure hunt
Good that you do your homework before invest
What is your opinion now
Can invest in

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

Charlie. People will be rushing to join the boat tomorrow. I haven't loaded enough tickets due to lacking understanding of CMSB businesses. Worried of KPMG report. Ha ha.

Posted by charlie chia > 2021-10-10 14:21 | Report Abuse

I think Those bad news already discounted from Day 1 which was already out and drop till 1.04 before moving up
Kpmg is to tighten up the loop hole for future control purposes

Posted by treasurehunt > 2021-10-10 14:28 | Report Abuse

Yeah. KPMG investigation is targeting to the system of control and risk management within the group.

We refer to the Company's announcement dated 5 May 2021 and the query from Bursa Malaysia Securities Berhad dated 6 May 2021 ("Query") in relation to the same.



The Company wishes to provide the following additional information pursuant to the Query:



1. Duties of the Group Chief Financial Officer ("GCFO") will be taken over by our General Manager, Group Finance - Madam Tan Mei Fung who has been with the CMSB Group for 24 years and has the requisite experience and knowledge to assume the role in the interim.



2. Concerns have been expressed to the Board on substantial investment and contract losses which have been accounted for and reported in our audited financial statements for 2016, 2017, 2019 and 2020. The nature of these transactions will be subject to review by an external consultant to be appointed by the Company.



3. CMSB is working on the appointment of an external consultant to undertake the investigation. The Terms of Reference ("TOR") are being drafted and expected to be completed within this week.



4. As stated under item 3 above the TOR are being finalised and the schedule for completion will be agreed with the external consultant to be appointed by middle of May 2021. The more important task of the external consultant, is to review whether there were sufficient effective controls and risk mitigation measures in place to ensure that there are no future recurrences.



5. None. As stated under item 2 above, these are historical losses which have been accounted for and reported in our audited financial statements for 2016, 2017, 2019 and 2020.



This announcement is dated 6 May 2021.

Posted by charlie chia > 2021-10-10 15:46 | Report Abuse

Tomorrow look to break resistance 1.40 then 1.44/1.50/ 1.62 then fly to the moon

Posted by treasurehunt > 2021-10-10 16:06 | Report Abuse

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.

Posted by treasurehunt > 2021-10-10 16:23 | Report Abuse

JV SEDC & PPES remains profitable after disposing 2% stakes and reclassified as JV from 51% subsidiaries in Construction and Road Maintenance segment in year 2020. From year 2021 onwards, It has changed to Road Maintenance segment. Contribution from SEDC and PPES (Construction) is classified as JV.

Posted by treasurehunt > 2021-10-10 16:27 | Report Abuse

It was so confusing and hard to quantify contribution from Associates and JV and inter segment after the disposal in year 2020. All is cleared now.

Posted by AnsonLiew > 2021-10-10 16:42 | Report Abuse

kpmg release rpt soon

good luck gg fraud found

Posted by AnsonLiew > 2021-10-10 16:43 | Report Abuse

bcareful tis treasurehunt hardsell cause bought at high

now stuck oready

hahaha

Posted by AnsonLiew > 2021-10-10 16:44 | Report Abuse

soon delisting no hope like serbadk case

Posted by AnsonLiew > 2021-10-10 16:45 | Report Abuse

now big boy push up to trap more newbie

Posted by AnsonLiew > 2021-10-10 16:46 | Report Abuse

even their cfo oready resign

someting fishy sure cfo know someting behind the screen

Posted by treasurehunt > 2021-10-10 16:53 | Report Abuse

Yeah. All these is hard selling and 'fakes' facts claimed by super smart guy. Please dump your tickets to break 1.3 tomorrow

Posted by treasurehunt > 2021-10-10 16:56 | Report Abuse

It's similar with Serbadk... See who is gullible.

Posted by treasurehunt > 2021-10-10 17:02 | Report Abuse

Please do remember to get your comrades to dump tickets tomorrow. If not, i would dump first and lari kuat kuat.

Posted by treasurehunt > 2021-10-10 17:36 | Report Abuse

Please get your fact right. CFO is fired by the board of director through non renewal of the contract. There is a lot of difference between resign and fire.

Posted by AnsonLiew > 2021-10-10 18:26 | Report Abuse

yes ah how bout GMd also resign

hahahahahahaha

someting fishy la

Posted by AnsonLiew > 2021-10-10 18:26 | Report Abuse

run b4 price collapse

Posted by AnsonLiew > 2021-10-10 18:26 | Report Abuse

kmpg found fraud sure gg go holland

Posted by treasurehunt > 2021-10-10 18:29 | Report Abuse

Legal investigations, an investigation is very simply the gathering together of facts to form a cohesive and logical picture of a given situation. Legal investigation is such a gathering together of facts in a situation which will be tried in a court of law. Because of this, there are exacting requirements, called rules of evidence, which must be met in order for the evidence gathered in the course of such an investigation to be admissible for the judge and jury to see and hear.

See who will be charged in the court.... CFO, CIO...

" WWe referto the Company's announcements on 5 May 2021, 3 June 2021, 8 June 2021 and 2 August 2021 on the suspension of Mr Syed Hizam Alsagoff, the Group Chief Financial Officer of the Company and appointment of KPMG Management & Risk Consulting Sdn Bhd ("KPMG MRC") as the independent consultant to review the financial management of certain investment and contracts. Whilst 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.

Noting that the contract of Mr Syed Hizam Alsagoff as the Group Chief Financial Officer of the Company ends tomorrow (31 August 2021), the Board has today decided for the Company's General Manager, Group Finance, Madam Tan Mei Fung to continue as Head of Finance pending the recruitment of a new Group Chief Financial Officer.



This announcement is dated 30 August 2021. "

Posted by AnsonLiew > 2021-10-10 18:40 | Report Abuse

even kwsp tabung haji all big fund dump dump big Lol


if so good why big institute dump big Lol

Posted by treasurehunt > 2021-10-10 18:43 | Report Abuse

Why pretending? What Group MD resign la... He is forced to retire early . Haha

Get someone to read the announcement for you to make a proper decision.

Dato Isaac Lugun retired as Group Managing Director ("GMD") of the Company on 8 July 2021. As part of the transition plan for the GMD, he remained as a Non-Executive Director until 7 August 2021.

Posted by charlie chia > 2021-10-10 18:56 | Report Abuse

This joker suddenly out

Posted by treasurehunt > 2021-10-10 19:04 | Report Abuse

Lembaga Tabung Haji remains the substantial holder with the shareholding of 82.4 million shares or 7.57% stakes in CMSB.

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

We don't know what is the strategy of EPF and why they disposed CMSB. You said EPF disposal means a company going to have big problems soon. With the same reckoning, EPF has ceased to be TAAN substantial shareholder... Is it TAAN going to have big problems soon?

Posted by treasurehunt > 2021-10-10 19:11 | Report Abuse

I welcome negative news or facts about a company to keep myself updating. Please don't simply tembak.