According to CMS, the proposed disposals will realise a pro forma gain on disposal of RM212.07mil, which will translate into an improvement in earnings per share of the company by about 20 sen
KUCHING: Cahya Mata Sarawak Bhd
(CMS) is letting go of its controlling stake in quarry and premix operations as well as road construction and maintenance businesses to joint-venture partner Sarawak Economic Development Corp (SEDC).
The Sarawak conglomerate has inked a share sale agreement with SEDC to dispose of 2% equity interest in 51%-owned group subsidiaries – CMS Resources Sdn Bhd (CMSR) and PPES Works (Sarawak) Sdn Bhd (PPESW) – to SEDC for RM17.5mil cash.
