SINCE Cahya Mata Sarawak Bhd
(CMS) began its restructuring some time ago, the conglomerate has been making some notable moves.
That has included a significant revamp in its board and top management line-up; strengthening internal controls and risk management; and more recently diversifying into the energy sector via the acquisition of Scomi Oilfield Ltd.
But perhaps the most significant is the latest announcement that it plans to divest its entire 25% stakes in OM Materials (Sarawak) Sdn Bhd (OM Sarawak) and OM Materials (Samalaju) Sdn Bhd (OM Samalaju) for a combined US$120mil (RM524.82mil) cash – a figure which is close to half the market cap of CMS.
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