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CMSB (2852) : CAHYA MATA SARAWAK BERHAD
bewise
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Posts: 18
Joined: Jul 2012
Male, MYS
21 Jul 2012, 08:56 AMPost #1
This stock is undervalued. It has the potential to move up much higher once it starts moving. rolleyesthumbup
bewise
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Posts: 18
Joined: Jul 2012
Male, MYS
21 Jul 2012, 08:56 AMPost #2
This stock is undervalued. It has the potential to move up much higher once it starts moving. rolleyesthumbup
wow123
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Posts: 98
Joined: Jun 2012
Male, MYS
21 Jul 2012, 11:53 AMPost #3
really maybe yes but after GE13 you will see something going to change. Some one is packing.crymadsweat
bewise
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Posts: 18
Joined: Jul 2012
Male, MYS
23 Jul 2012, 10:55 AMPost #4
This stock is undervalued. It has the potential to move up much higher once it starts moving. ...bewise @ 21 Jul 2012, 08:56 AM
The stock is on track to challenge the next high at 2.77. Support is at 2.63.
bewise
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Posts: 18
Joined: Jul 2012
Male, MYS
24 Jul 2012, 10:49 AMPost #5
This stock is undervalued. It has the potential to move up much higher once it starts moving. ...bewise @ 21 Jul 2012, 08:56 AM
The stock is lasted traded at 2.81. The next target is 2.97. thumbup
bewise
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Posts: 18
Joined: Jul 2012
Male, MYS
26 Jul 2012, 03:49 PMPost #6

The stock is lasted traded at 2.81. The next target is 2.97. ...bewise @ 24 Jul 2012, 10:49 AM

The stock is now traded at 2.93. Keep watching, it will go higher.thumbup
bewise
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Posts: 18
Joined: Jul 2012
Male, MYS
29 Aug 2012, 06:00 PMPost #7

The stock is now traded at 2.93. Keep watching, it will go higher....bewise @ 26 Jul 2012, 03:49 PM


CMSB Profit Surges

CMSB's Q2 2012 EPS come in at 14.29 sen. For Q2 2011, the EPS was 8.44 sen. (The figures are after tax) This is an improvement of 69.31%. The MD is very pleased with the result. An interim dividend of 5 sen less tax has been declared. In the previous years, there was no such dividend. This is a sign of confidence. The stock is likely to trend higher. It closed at 3.28 today.
eelyn
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Posts: 17
Joined: Jan 2012
Male, MYS
18 Jun 2013, 10:50 PMPost #8
is this stock politically linked to anybody?

how good is the fa of this co?
eelyn
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Posts: 17
Joined: Jan 2012
Male, MYS
18 Jun 2013, 10:50 PMPost #9
is this stock politically linked to anybody?

how good is the fa of this co?
tiekyu
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Posts: 12
Joined: Mar 2013
Male, MYS
19 Jun 2013, 09:40 AMPost #10
is this stock politically linked to anybody?

how good is the fa of this co? eelyn @ 18 Jun 2013, 10:50 PM

This stock is very good company.The only one cement producer in Sarawak. Never regret buying it. You can buy when price comes down.
eelyn
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Posts: 17
Joined: Jan 2012
Male, MYS
19 Jun 2013, 09:59 AMPost #11

This stock is very good company.The only one cement producer in Sarawak. Never regret buying it....tiekyu @ 19 Jun 2013, 09:40 AM


it has surged so much higher already now.. how low can i expect to collect?
tiekyu
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Posts: 12
Joined: Mar 2013
Male, MYS
19 Jun 2013, 10:22 AMPost #12


it has surged so much higher already now.. how low can i expect to collect?eelyn @ 19 Jun 2013, 09:59 AM

It goes up and comes down everyday. Seems never touch RM5. If it come below RM5. I will buy more. NTA is 4.66 . Best price is 4.66. But very difficult to buy at this price. Hope you are lucky.
eelyn
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Posts: 17
Joined: Jan 2012
Male, MYS
21 Jun 2013, 11:07 AMPost #13

It goes up and comes down everyday. Seems never touch RM5. If it come below RM5. I will buy more...tiekyu @ 19 Jun 2013, 10:22 AM


Ok tiekyu, thanks for ur views... :)
CNY2012
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Posts: 111
Joined: Dec 2011
Male, MYS
04 Jan 2014, 12:54 PMPost #14

It goes up and comes down everyday. Seems never touch RM5. If it come below RM5. I will buy more...tiekyu @ 19 Jun 2013, 10:22 AM


RHB Research raises Cahya Mata Sarawak FV to RM8.57

KUALA LUMPUR: RHB Research has raised the target price of Cahya Mata Sarawak Bhd (CMSB) to RM8.57 from RM7.55 while maintaining its Buy call.

It had on Thursday welcomed CMSB’s latest undertaking of a 40% stake in Malaysian Phosphate Venture (MPVSB), especially on the latter’s planned 500,000 tonner per annum phosphate and related products plant undertaking.

“We did not incorporate the plant’s earnings and valuations, as meaningful contributions are only expected from 2017. That said, we raise our FV to RM8.57 (from RM7.55) after incorporating its associates’ valuations. Maintain Buy,” it said.

AmResearch said subsequent to the MoU inked on June 7, 2012, CMSB’s unit Samalaju Industries (SISB) had signed a shareholders’ agreement with MPVSB, Arif Enigma SB (AESB), and Malaysian Phosphate Additives (Sarawak) SB (MPASSB) to build the plant.

The JV company, MPASSB will be owned by SISB, MPVSB and AESB on a 40%:40%:20% basis respectively.

The plant will be Malaysia’s and South-east Asia’s first integrated phosphate complex and it will be located in the Samalaju Industrial Park, Sarawak.

The JV partners are expected to sign a 150MW power purchase agreement (PPA) term sheet in January, which the formal PPA expected to be signed in 1Q14.

“As the plant is expected to be operational in phases starting from 1QCY16 – it is slated to be fully commissioned by 2QCY18 – we have not incorporated any earnings and valuation for the project at this juncture. The plant’s estimated capex is RM1.04bil,” it said.

AmResearch said separately, MPASSB had signed a sales and purchase agreement with SISB to purchase about 350 acres of land in Samalaju Industrial Industrial Park from the latter for RM25mil for the plant.

“We are positive on this, as it will translate into a RM21m net gain for the group. That aside, CMSB’s share price continues to inch higher, gaining 123.3% since our initiation in March 2013.

“As we are conservative on our valuations, we have decided to incorporate the group’s 20% stake KKB Engineering (Neutral, FV: RM2.74) and 25% stake K&N Kenanga (Not Rated) into our sum-of-parts valuation, which bump ups our FV to RM8.57. Maintain Buy,” it said.
Brian9818
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Posts: 201
Joined: Sep 2012
Male, MYS
02 Apr 2014, 08:37 PMPost #15
RHB TP=$12.20
CMS’ proposed share split and bonus issue is a much anticipated sentiment booster. Other positives are: i) solid growth prospects for its OMS and MPA projects amid attractive power prices, ii) SCORE-driven growth at its other units, and iii) possible M&As to offer upside. We lift our SOP-based FV to MYR12.20 after rolling our valuation to FY15, incorporating OMS’ DCF value and other housekeeping. BUY.

Bonus issue and share split. Cahya Mata Sarawak (CMS) has proposed a 1-into-2 share split followed by a 2(subdivided share)-for-1 bonus share issue to raise the number of shares to 1,087m. This exercise, while neutral in terms of market capitalisation, is timely to improve the stock’s liquidity as its average trading volume stood at barely 700k shares per day over the past six months. on completion of the exercises, the share price will likely be adjusted to MYR3.26 from the MYR9.80 level, thus making it more affordable to retail investors.

Riding on SCORE. This Sarawak-based conglomerate is set to benefit from attractive power tariffs under the Sarawak Corridor of Renewable Energy (SCORE) and the economic multiplier effects in other industries. Construction of Phase 1 of the power-intensive smelting project by 20%-owned OM Materials (Sarawak) (OMS) is now at the final stages, with stage commissioning slated for July this year. We see positive progress in its Malaysian Phosphate Additives SB (MPA) project while there is potential upside to 51%-owned Samalaju Property Development SB (SPD). Meanwhile, StarBiz reported yesterday that CMS was looking at taking over state-controlled Sacofa SB, an infrastructure and multimedia service provider in the telecom sector. While this acquisition is likely to be value-accretive, we need more information for further evaluation.

Reiterate BUY, FV raised to MYR12.20. While CMS’ share price has more than tripled barely a year since we initiated coverage on the stock, we still see room for upside given its robust growth potential. Furthermore, the newly-proposed bonus issue and share split are likely to be a sentiment booster. We roll over our valuation to FY15, raise the P/E multiple for its construction material division to 12x (from 10x), and include DCF of OMS for the first time in our SOP. These lift our FV to MYR12.20 (from MYR10.37). Maintain BUY.

CMS has proposed a two-for-one share split and a one-for-two bonus issue based on the number of shares post the share split. Upon completion of both exercises, CMS would raise its number of shares to ~1b (+220%) from 340k. The proposals are conditional upon approvals by the relevant authorities and shareholders. Meanwhile, the bonus is conditional upon the completion of the share split. The exercises are expected to complete in 2Q14.

What’s Our View (Maybank TP=$10.50)
The corporate exercises have no impact on earnings and gearing but would be positive on stock sentiment. The proposals would enable greater equity participation in CMS’s strong growth prospects, as the corporate exercises would enhance its trading liquidity and affordability.

CMS is the proxy to Sarawak’s growth via the burgeoning construction activities that would buoy demand for its cement and construction material divisions. Its strategic investments in the Sarawak Corridor of Renewable Energy (SCORE), including the ferrosilicon smelter and integrated phosphate plant, would take CMS’s earnings to scale greater heights starting 2014.

Potential acquisitions and new investments would further re-rate the stock. It was reported in the press that CMS could be looking to acquire Sacofa S/B, a telecommunication infrastructure provider with an exclusive concession to build, own and manage telecommunication towers and structures in Sarawak. Reiterate BUY with unchanged TP of MYR10.50.
leslieroycarter
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Posts: 2
Joined: Apr 2014
Male, MYS
14 Apr 2014, 11:46 AMPost #16
when will be the split n bonus issues out ? The longer it takes will not bode well for the co in the long run.
paulg
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Posts: 2
Joined: May 2014
Male, MYS
13 Jun 2014, 07:46 AMPost #17
if I buy on 23/6/2014, can I get the split share & bonus,?? any one know how much is the Bonus issue?
tiekyu
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Posts: 12
Joined: Mar 2013
Male, MYS
13 Jun 2014, 09:12 AMPost #18
if I buy on 23/6/2014, can I get the split share & bonus,?? any one know how much is the Bonus i...paulg @ 13 Jun 2014, 07:46 AM
yes. you can get the bonus issue and share split. bonus issue is 1 bonus share for 2 share holding.
paulg
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Posts: 2
Joined: May 2014
Male, MYS
13 Jun 2014, 10:13 AMPost #19
thank you very much for your answer, for example if the ex-date entitlement closed at
RM9.80 divided by 2=RM4.90, Is the bonus issue at the same Price RM4.90???
tiekyu
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Posts: 12
Joined: Mar 2013
Male, MYS
14 Jun 2014, 12:05 PMPost #20
thank you very much for your answer, for example if the ex-date entitlement closed at
RM9.80 divi...paulg @ 13 Jun 2014, 10:13 AM

For example, let assume the day before ex date the price closed at RM9.80, you have 100 share . After Entitlement date, you will have 200shares and the price will be adjusted to RM9.80/2= RM4.90. then After bonus issue(free), the you will have 300 shares , price adjusted to RM3.26


yeah doh drool lol mad notworthy question rant rolleyes sad shutup shy smile star sweat thumbup wub cry


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