Cahya Mata Sarawak net profit rises to RM40.76mil

OM Sarawak, a 75:25 joint venture between ASX-listed OM Holdings Ltd and Cahya Mata Sarawak Bhd, has set aside A$20mil (RM57.6mil) as capital expenditure for the construction of the sinter plant with auxilliary facilities, a laboratory, offices and canteen

KUALA LUMPUR: Cahya Mata Sarawak Bhd’s net profit for the quarter ended March 31 rose 4.4% year-on-year (y-o-y) to RM40.76mil on the back of higher contributions from the group’s core businesses.

“The strong performance for the first quarter of this year is in line with our projections and expectations of a full rebound once businesses and other economic factors had normalised post-14th general election,” said group chief executive officer, corporate, Datuk Isaac Lugun.