Stay abreast with the latest happenings in Cahya Mata Sarawak Berhad (CMS).

CMS Reports PBT of RM81.7 Million in 3Q2020

Kuching (Sarawak), Wednesday, 25 November 2020 – Cahya Mata Sarawak Berhad (“CMS” or “the Group”) announced its third quarter financial results for the three months ended 30 September 2020 (“3Q2020”) today, reporting profit before tax (“PBT”) of RM81.7 million which is a 255% improvement as compared to PBT of RM23.0 million in the preceding second quarter ended 30 June 2020 (“2Q2020”).

The Group registered significant improvement in both revenue and PBT in 3Q2020 compared to the previous quarter, as most of its businesses were back in full operation. The Group posted revenue of RM428.4 million and a PBT of RM81.7 million in comparison to 2Q2020’s revenue of RM206.8 million and PBT of RM23.0 million. All traditional core businesses registered improvement in both revenue and PBT contributions. However, associate companies’ contribution decreased by 38% to RM12.7 million compared to RM20.5 million in 2Q2020.

For the nine months ended 30 September 2020 (“9M2020”), the Group posted total revenue of RM917.7 million and a PBT of RM131.5 million which translates to a 29% and 43% dip respectively in comparison to 9M2019’s revenue of RM1.3 billion and PBT of RM230.9 million. This was a result of fewer operating days across our traditional core businesses during the MCO period earlier this year when operations were interrupted for about 2 months.

Commenting on the Group’s 3Q2020 performance, CMS Group Managing Director, Dato Isaac Lugun said: “Our revenue and profitability improved significantly this quarter as we moved towards full operations and recorded improvements across all traditional core business as compared to 2Q2020. We are pleased that our catch-up strategies have yielded results as reflected in our performance.

The CMS Group achieved the following results over the nine months ended 30 September 2020:

The Cement Division’s 9M2020 revenue declined by 25% to RM336.7 million as compared to RM448.5 million in 9M2019. Consequently, the Division’s PBT dropped by 34% to RM42.9 million compared to RM65.5 million in the same period of the previous year. The softer performance was mainly due to lower contribution from both cement and concrete business as a result of fewer operational days in 9M2020. The Division implemented various measures to reduce cost which resulted in improve operational efficiency from lower repair and maintenance cost, discharging cost as well as lower costs associated with imported clinker. Furthermore, this Division is well positioned to capitalize on opportunities in the potential spike of major infrastructure projects in the State.

The Construction Materials & Trading Division’s 9M2020 revenue declined by 25% to RM314.8 million while its PBT contracted by 26% to RM47.2 million compared to 9M2019. This Division recorded lower revenue from its quarry, premix, and trading sectors due to the lockdown. The year-on-year (YoY) drop in PBT was partially attributable to recognition of a one-off provision reversal amounting to RM9.0 million in 9M2019. On 2 October 2020, we completed the 2% equity sale in CMS Resources Sdn Bhd (“CMSR”), the holding company for its quarry and premix business to Sarawak Economic Development Corporation (“SEDC”). Post completion, CMSB will hold a 49% joint venture stake in CMSR and will continue to manage CMSR’s day-to-day operations. Given that SEDC, CMSB’s joint venture (“JV”) & long-standing strategic partner, has recently been entrusted with a more catalytic role in the State’s economic development, this transaction will put CMSB on a stronger footing to capture opportunities from the infrastructure developments in the State especially with several mega infrastructure projects in the pipeline.

The Construction & Road Maintenance Division’s 9M2020 revenue decreased by 28% to RM272.3 million as compared to RM378.6 million in 9M2019. This was due to lower contribution from both construction and road maintenance activities. Road maintenance revenue and gross profit margin decreased as the road length maintained effective 1 January 2020 was almost half of that maintained previously but the scope was more extensive under the new contract. Meanwhile, the lower revenue from construction business was mainly due to minimal construction works in 2Q2020 arising from lockdown. The Division’s PBT declined by 59% to RM21.9 million in 9M2020 from RM52.8 million in 9M2019. The Division’s mid-term prospects, however, are well supported by its outstanding order book of RM1.11 billion as at 30 September 2020. The Division is well positioned to capitalize on opportunities to participate in major infrastructure projects in the State of Sarawak including the Coastal Road and Second Link Road Projects.

The Property Development Division’s 9M2020 revenue declined by 51% to RM52.9 million in comparison to RM108.7 million in 9M2019. This was mainly due to drop in the number of properties sales and lower land value sold in 9M2020. Consequently, its PBT dropped by 74% YoY to RM6.9 million in 9M2020.

For the 9M2020, share of profits from its associates from the group’s Strategic Investments decreased by 20% to RM44.6 million from RM55.8 million in 9M2020.

Commenting on CMS’ outlook and prospects moving forward, Dato Isaac Lugun said: “We deem our performance this quarter to be satisfactory as all Divisions are focused on catching up with pending orders and works following the earlier lockdown closures.  We will continue to build on this momentum for the remainder of the year while taking prudent steps to enhance our cost control initiatives including managing and rationalizing capital expenditures. We intend to continue extracting value from our traditional core businesses by bolstering their overall operations and optimising efficiencies. We are implementing the necessary measures and will continue to adapt and fine-tune our strategies to safeguard the sustainability of our business for the long-term.”

CMS: Nurturing People, Sustaining Communities

DayakDaily Advertorial
Sunday, 4 October 2020

CSR Montage

As Cahya Mata Sarawak Berhad (CMS) goes about in its day-to-day business, the top management is also cognizant on the need to create long-term shared values for various stakeholders to secure the Group’s future.

“CMS was incorporated on Oct 8, 1974 and we will be celebrating our 46th anniversary next week. Throughout our history, we remained steadfast in balancing out our financial performance with responsible environmental and social considerations to ensure we deliver sustainable operations,” said the man in the driver’s seat, Dato Isaac Lugun.

CMS’ sustainability agenda forms part of the Group’s key foundation stones which embed sustainability as a culture, emphasising care for customers, environment, employees and the community. This ties in with the Group’s goal to become the “Most Admired Company in Sarawak”.

As a major employer in the State with a desire to develop and train highly skilled local workforce, CMS makes an important economic contribution to the communities in which it operates. Its success to date is owing to strong ties with its employees. It has built up a caring CMS family culture deeply rooted in its daily operations and among its people.

Caring for its people

Caring for its workforce is top of the list for CMS. This comes across clearly when we speak to the employees of CMS who expressed loyalty and gratitude towards the Group.

Soft-spoken Edward Suka is grateful to CMS for the opportunity to fulfil his professional potential and the confidence entrusted by CMS to head the often challenging human development department. He has been with the company for 26 years.

The mild-mannered Iban from Saratok said it’s rewarding working for CMS as the company provides good benefits, remuneration and excellent welfare for the staff and he feels blessed that he is the one taking charge of human resources as well as staff training, welfare and discipline.

“I’m proud to say the company treats its staff very well. The management listens to the employees and tries to meet their expectations based on affordability and profitability.”

Azmi Hamit found out he had nasal cancer in March last year and felt like the world had crashed down on him. He could foresee a bleak future of painful and costly treatments.

“When I fell ill, CMS did not give up on me. Instead, they went out of their way to help me.”

“It was the best help I could get from anyone. You could not imagine what it was like, having the huge burden of treatment costs taken off my shoulders. It lightened my family’s load in a way no one could imagine except my family and myself.

“The health benefits provided by CMS are real – not empty promises written on a piece of paper but commitments that will be honoured and fulfilled.”

“I believe no other company cares for its employees like CMS. My family and I are grateful that I have CMS as my employer,” he said.

The CMS ‘Doing Good’ Programme

Today, all the Group’s corporate social responsibility (CSR) efforts come under the ambit of the ‘Doing Good & Building Sustainable Communities’ programme. Fuelled by employee volunteerism, this initiative underscores CMS’ endeavour to undertake tangible CSR initiatives that will create a lasting positive impact on communities across the State.

This program has its own Facebook page which sets out activities undertaken and importantly, also curates exemplary CSR initiatives from local and global sources to inspire others to follow suit.

Over the tenure of the CMS ‘Doing Good’ programme, CMS employee volunteers have invested 363,926 man-hours across 393 different projects. In recognition for its efforts, CMS clinched the Gold Award in the 2019 CSR Leadership Category in the Global CSR Summit and Awards, which is recognised as Asia’s most prestigious CSR awards.

To bolster ties with Sarawak’s diverse communities, CMS launched the ‘Building Sustainable Communities’ initiative under the ‘Doing Good’ banner in March 2019. The aim of this platform is to work with communities where CMS can truly make a long-term difference in the areas of uplifting lives, improving lifestyles and creating opportunities.

In 2019, CMS employees clocked in a total of 43,894 man-hours as they rolled out diverse CSR activities and raised a total of RM86,535 in funds that was distributed among local communities.

“Engagement efforts are underway on a Group-wide basis to foster employee volunteerism in a manner in which our people take strong ownership of CMS Doing Good projects that are relevant to their communities. At the same time, we will ensure corporate donations are redirected in a manner which truly impacts beneficiaries for the better,” said Isaac.

Building Sustainable Communities

CMS continues to make strong advances in its community engagement efforts to elevate the lives of people in communities across Sarawak. Special efforts were placed in the vicinity of Mambong where the CMS Integrated Cement (CMSCI) Plant is located.

Engaging and communication with Mambong communities are CMS’ priorities. Open dialogues take place annually involving the senior management of CMS, community leaders and village heads from the eight villages in and around the Mambong area to strengthen ties and understanding.

In addition, whenever there is a need to carry out surveys on quarry lands, the Group will first engage in open dialogue with the local communities to ensure that they are well informed of the activities and with no encroachment into natives’ lands.

CMSCI prioritizes the recruitment of candidates from local communities. As of August 2019, more than 50 per cent of the Mambong Integrated Plant employees were from the surrounding villages.

CMS also made a difference to the younger generation. An English reading programme for primary students of SK St Augustine was initiated with the aim to improve the students’ English language. Since its implementation in 2016, there has been an increase in the percentage of passes in English which in turn has contributed to the performance of the school. CMSCI continues to support SK St. Augustine Mambong through the provision of an annual grant of RM10,000.

Corporate Philanthropy

CMS remains committed to helping better society by lending financial support to causes that make a positive impact on local communities. Based on the Group’s Annual Report for 2019, RM1,740,587 was spent on philanthropic causes and donations.

All donations and sponsorships were made to charitable and sporting events within Sarawak. This includes rehabilitation of schools, subsidising water and electricity bills for mosques and sponsoring tourism and cultural events such as Sarawak’s flagship Rainforest World Music Festival.

Bringing it Forward

Several developments have taken place which demonstrate that CMS is on track with its agenda of sustainability. One of these is greater involvement by the Group’s leadership in sustainability initiatives. With stronger Board and Management oversight in this area, it has gained greater momentum and is being cascaded down across the organisation in a reinvigorated manner.

Isaac stressed that welfare begins at home, or in this case, at the workplace which is akin to a second home.

“Good performance comes from operating in a conducive working/living environment, where if your employees and community (two important stakeholders of CMS) are well-taken care of then our aim of creating a performance-driven organisation, becoming a model for giving back to the community – in short ‘to be the most admired Company in Sarawak’ – is being met. The CSR and sustainability initiatives of CMS in the past, the present and future will be carried out with that aim in mind”.

The CMS Group is focused on building a legacy while preserving the environment and minimising carbon footprint. The long-term goal is to build a sustainable business without compromising its heritage.— DayakDaily

Source: https://dayakdaily.com/cms-nurturing-people-sustaining-communities/

CMS-Bags-Silver-Award-at-Global-Annual-Report-Competition-2020-in-New-York_Horizontal-1

CMS Bags Silver Award at Global Annual Report Competition 2020 in New York

Kuching (Sarawak), Tuesday, 14 September 2020 – Cahya Mata Sarawak (CMS) today announced that it clinched a Silver Award for its 2019 Integrated Report at the 34th ARC Awards International event in New York. Recognised as the world’s premier annual report competition, the ARC event provides a platform for companies from all around the world to showcase their high reporting standards.

CMS’ 2019 Integrated Report with its tagline “Creating Future Value” was named Silver Award winner in the Integrated AR & CSR: Non-Traditional Format sub-category under the Specialised Annual Reports Category.

Commenting on CMS’ achievement was Group Managing Director, Dato Isaac Lugun who had this to say: “The ARC Awards represent the best of the best in annual reporting standards and we are elated that our 2019 Integrated Report, our second integrated report to date, ranks among the world’s distinguished reports. The fact that we were assessed against a multitude of entrants from some 76 countries and still clinched a Silver Award is very humbling too.”

“This achievement comes on the back of our 2018 Integrated Report, our maiden report, being named one of five finalists for the “Report of the Year Award” at the Australasian Reporting Awards (ARA) event in Melbourne. This was after it bagged an ARA Gold Award for distinguished reporting. Our 2018 Integrated Report also had the added distinction of being the first ever report from a company within ASEAN to be selected as a finalist in the 70-year history of the ARA.”

“These multiple accomplishments to date underscore CMS’ commitment to upholding excellence through the high standards of reporting and disclosure. While we are pleased with our recent accomplishments, rest assured that we will not rest on our laurels but will continue to give of our very best in all that we set our hands to,” he added.

Dato Isaac went on to say, “As a passionate, people-led organisation, CMS remains committed to exceeding the expectations of our discerning stakeholders and to upholding the responsibilities we have been entrusted with. We continue to approach our business in ways that truly preserve and create stakeholder value by remaining agile amidst an increasingly challenging playing field, as well as by rolling out relevant and focused business strategies.”

“Our being recognised by key organisations for our integrated reporting endeavours shows that we have made some solid progress by way of articulating the story of how we have been aligning strategy with value creation and performance. By formally demonstrating how we are creating real value for our stakeholders over the short, medium and long-terms, I believe we are also making good headway in strengthening stakeholder confidence and bolstering our position as a preferred company on Bursa Malaysia.”

The international Annual Report Competition or ARC Awards event, organised by MerComm, Inc. is the most anticipated annual report event of the year. This contest attracts numerous entrants from around the globe, including publicly-held and privately-owned corporations, government agencies, non-profit organisations and associations. As the world’s premier annual report competition, the ARC upholds openness, independence and fairness and celebrates accountability, ethical standards, and transparency – all hallmarks which continue to earn it the trust of entrants again and again. Awards are given for overall performance i.e. how well an annual report tells a company’s story.

 

CMS – Committed to Building Future Value

DayakDaily Advertorial
Saturday, 12 September 2020

Dato Isaac Lugun aims to set up another milestone for CMS.
Dato Isaac Lugun aims to set up another milestone for CMS.

The Cahya Mata Sarawak Berhad (CMS) of today is an independent, professionally run business in pursuit of value creation for its stakeholders.

“We need to adapt and evolve amidst an increasingly challenging playing field to achieve our ambitions and strengthen our fundamentals,” said its Managing Director Dato Isaac Lugun who is pushing this agenda.

He has identified a three-pronged strategy to lay a solid foundation and set strategic direction for the group to remain relevant and be best-in-class in its market segments.

The First Prong – Reposition and fortify our traditional core businesses

The first prong of this strategy calls for CMS to reposition and fortify all traditional core businesses.

For those who are unfamiliar with the group, CMS’ traditional core businesses lie in cement, construction materials and trading, construction and road maintenance as well as property development.

To fortify its core businesses, Isaac emphasized the need for CMS to strengthen collaboration with the State Government.

CMS and the State government have enjoyed a long standing and valued relationship for almost four decades. Isaac pointed out that it is a marriage of strengths.

“We have successfully collaborated on many milestone infrastructure projects. A move in the right direction to escalate this relationship and the first realignment step was to dispose two per cent interest in PPES Works and CMS Resources to SEDC (Sarawak Economic Development Corporation) which will result in SEDC holding 51 per cent of each entity upon completion of the transaction.”

“We are fully committed to assist the State in realizing its infrastructure development agenda. Our goal is to work together for the benefit of the State and its people,” said Isaac.

The new landmark of Sarawak - the new Sarawak Museum was a project of CMS.
The new landmark of Sarawak – the new Sarawak Museum was a project of CMS.

The Second Prong – Fully implement and grow strategic businesses

As the State moves into a new era of growth with (Sarawak Corridor of Renewable Energy (SCORE), CMS’ expansion path is moving into a new trajectory to take advantage of the business investment opportunities in energy-intensive industries.

The second prong mandates that CMS ramps up efforts on strategic investments which centre on export-oriented industries within the SCORE.

“We evaluated a number of businesses to secure our future and saw that renewable energy was key. It is the one asset that Sarawak as a State has ample resources of, especially hydro power.

“It was this attraction that saw us making strategic investments in ferrosilicon and manganese alloys smelter operations under OM Materials (OM) and an integrated phosphate complex under Malaysian Phosphate Additives (MPA).

“Today, CMS is the only Sarawakian company with a footprint in SCORE. By doing so, the Sarawak State will attract further foreign investment in downstream industries,” said Isaac.

CMS also owns strategic stakes in telecommunication infrastructure via SACOFA Sdn Bhd (50 per cent stake) as well as in other listed companies namely KKB Engineering Berhad (20 per cent stake) and Kenanga Investment Bank Berhad (26.25 per cent stake).

“We constantly review our strategic investment portfolio to diversify from our traditional core and maximize returns for our shareholders,” commented Isaac.

The wielders at OM Materials Sarawak Sdn Bhd.
The wielders at OM Materials Sarawak Sdn Bhd. (Picture courtesy of CMS)

The Third Prong – Reposition and strengthen the CMS brand

While financial performance and growth are of utmost importance, CMS is also paying significant attention to reposition and strengthen its brandname.

This is well underway with appointment of its high calibre professional management team, institutionalized shareholdings and strong corporate governance.

By keeping a steadfast focus on responsible business practices and sustainable growth, the group continues to create tangible stakeholder value and ensure long-term success.

“One of the tangible manners in which we continue to create value for our stakeholders is via upholding the agenda of sustainability within CMS.

“Our aim is to create a vibrant performance-driven workplace, be a leader in good environmental practices, and serve as a model for giving back to the community.”

CMS has an outstanding sustainability record. It won the coveted CSR Leadership Gold Award at the Global CSR Awards 2019 and remains the only Sarawakian company to be made a constituent of the FTSE4Good Bursa Malaysia index.

“To be an investible company, business and financial performance are just one side of the coin. Institutional investors are increasingly putting emphasis on sustainability and governance,” said Isaac.

CMS clinker plant at Mambong.
CMS clinker plant at Mambong. (Picture courtesy of CMS)

Becoming Sarawak’s Most Admired Company

“To help us maintain our growth momentum, we have identified key foundation stones that underly our strategies. We are keeping a laser-focus on outcomes to attain our next stage of growth and to achieve RM500 million profit in 5 years’ time.”

CMS firmly believes that growth can only happen if there is sustained, dynamic, cohesive and engaging leadership in place.

To make the CMS vision a reality, Isaac is convinced that he has put in place a capable team from senior leadership to division heads. Currently, all executive positions and the subsidiary boards are filled by professionals who bring a wealth of expertise and experience.

To achieve transformational efficiencies across the organization, CMS is embracing digitalisation and innovation in a more robust manner.

“CMS’ Digital Transformation initiative will enhance the Group’s productivity, cost efficiency, accessibility and digital security for the long-term. This will eventually see all our businesses operate on a single unified platform.”

“We inculcate specific values that will help engender our growth momentum. Integrity, passion, grit, teamwork and accountability are the guiding principles of our corporate culture.

“While building our businesses, we also aim to impart the right ethics to our team to carry on the shinning CMS torch.”

“We believe that by continually posting resilient and profitable results, as well as by upholding stellar business ethics, transparency and absolute dedication to compliance, CMS is well on its way to becoming ‘Sarawak’s Most Admired Company’,” said Isaac.— DayakDaily

CMS project- Samalaju Resort Hotel
CMS project: Samalaju Resort Hotel. (Picture courtesy of CMS)

Source: https://dayakdaily.com/cms-committed-to-building-future-value/

Debunking the Myth about CMS

DayakDaily Advertorial
Monday, 31 August 2020

Dato Isaac Lugun
Dato Isaac Lugun

Cahya Mata Sarawak Berhad (CMS) was viewed to be heavily linked to the family of the current Head of State, Tun Pehin Sri Abdul Taib Mahmud. Such was the perception when the company was incepted, and it remains so to some who have not been following the company’s developments.

The Group has long undertaken a transformation and became an investable company based on merits.

Dato Isaac Lugun, the present CMS Group Managing Director, has dispelled this based on the Company’s institutionalized shareholdings and management representation.

Taib’s family owns 23 per cent equity

“We have over 50 per cent shareholdings held under local and foreign institutions and this has been quite a stable trend. We also have a team of professional management operating on a meritocracy-based culture”.

“When I first joined the company in 1996, Tun Taib’s family had more than 60 per cent shareholdings but now, they have pared down their interest to about 23 per cent,” Isaac pointed out, following a strategic restructuring to address the proprietorship status of the company.

“To date, all executive positions and the subsidiary boards are filled by professionals who bring a wealth of expertise and experience to the table. Dato Sri Mahmud Bekir Taib is the only family member who remains on the board and he holds a nonexecutive capacity as deputy chairman,” Isaac explained.

According to the present breakdown of CMS shareholdings, local institutional funds hold 47 per cent while foreign funds hold 8 per cent.

Government-linked investment companies hold almost 33 per cent. Among the GLCs which holds substantial stakes are Employees Provident (EPF), Tabung Haji (TH) and Sarawak Economic Development Corporation (SEDC).

Non-GLCs including large insurance funds and asset managers own 14 per cent. Reputable large foreign shareholders such as Norges Bank Investment Management, Vanguard and Dimensional Funds also featured as top 30 shareholders.

“We are proud of the fact that we have built a substantial following from reputable local and foreign institutional investors. This speaks of their confidence in us as a well managed company with a clear growth path.”

CMS headquarters in Kuching - Wisma Mahmud.
CMS headquarters in Kuching – Wisma Mahmud

FTSE4Good Bursa Malaysia index

Isaac also disclosed since CMS has been prioritising good corporate practices and good governance, it has successfully qualified as a green lane policyholder in Bursa Malaysia.

“We are pleased to note that CMS today is the only company from Sarawak on the ‘FTSE4Good Bursa Malaysia index’.

In December 2014, Bursa Malaysia and FTSE (Financial Times Stock Exchange Group) launched an Environmental, Social and Governance (ESG) index — FTSE4Good Bursa Malaysia Index — for the Malaysian market.

It is aimed at supporting investors in making ESG investments in Malaysian listed companies, increasing the profile and exposure of companies with leading ESG practices, encouraging best practice disclosure and supporting the transition to lower carbon and more sustainable economy.

“They look at all the top companies in Malaysia and assess them based on their corporate practices, good governance, environmental practices and social outreach.”

“In our case, we’re assessed annually to stay on the index. Currently, there are 73 Malaysian companies with the index, including CMS.”

Isaac believed that CMS’s inclusion in the FTSE4Good Bursa Malaysia index speaks volumes of its creditable corporate practice and responsibility, enabling the company to attract international investors.

“Because we are a component of this index, investors know we have already been assessed and are compliant with good governance, good corporate practices and high standards of disclosure. We have been a constituent for four consecutive years, with our latest ranking topping the previous one.”

As of today, CMS is the only company from Sarawak on the “FTSE4Good Bursa Malaysia index_.
As of today, CMS is the only company from Sarawak on the “FTSE4Good Bursa Malaysia index”.

Debunking myth of monopoly

On the production of cement, he said since the company is the only cement player in Sarawak, there is an assumption that it is a monopoly in supplying cement to the state.

“But the fact is that we are not a protected cement monopoly. Anyone can come to Sarawak and apply for a licence to set up a cement plant or export cement into Sarawak as there are no restrictions. There are competitors who have attempted to supply to Sarawak, however, they didn’t find it feasible as the market is limited.”

Isaac reiterated that to remain resilient, CMS is constantly strengthening its position in the cement supply chain.

“We have invested in cement production capacity of 2.75 million tonnes p.a. to capture the demand from Sarawak, especially with ongoing projects like the Baleh dam which will need about 400,000 tonnes in the next three years.”

Isaac said CMS could not increase selling prices despite the fact that raw material costs has significantly risen.

“The price of imported clinker has increased by more than 20 per cent in 2019,” Isaac stated.

Substantial Audit

Isaac revealed that under the Pakatan Harapan (PH) federal government, CMS was scrutinised and investigated for its business transactions.

“We are pleased to have been cleared in the previous audit conducted by the federal government with regards to our pricing policy tracking back 10 years. There were no findings of misconduct in our business practices.”

Similarly, for road maintenance, Isaac said he welcomes healthy competition from other players.

“I always believe competition drives efficiency. I think the cake is big enough for two or three more companies to share. We can’t deter competition in a free market. However, we can defend our position by staying ahead of the game through operational efficiency and quality delivery.”

About CMS

CMS Group is a leading corporation listed on the Main Market of the Malaysian stock exchange, Bursa Malaysia, and is a major private-sector player in Sarawak, the largest State in Malaysia.

Over time, CMS has evolved from a single product manufacturer of cement (beginning in 1974) to become a corporation focused on its vision “To Become the Pride of Sarawak & Beyond”.

Today, CMS’s portfolio spans over 35 companies involved in the manufacturing and trading of cement and construction materials; construction; road maintenance; property and infrastructure development; financial services; education; steel and pipe fabrication plus installation; ferro silicon and manganese smelting; and telecommunication infrastructure.— DayakDaily

Dato Isaac Lugun at his office at CMS headquarters in Kuching.
Dato Isaac Lugun at his office at CMS headquarters in Kuching.

Source: https://dayakdaily.com/debunking-the-myth-about-cms/