CMS bullish on building material demand recovery

KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMS) is optimistic of a better financial performance this year, given the anticipated gradual recovery in the demand for building materials in Sarawak following the relaxation of movement restrictions, according to TA Securities Research.

Following an analyst briefing, TA Securities Research said CMS management expects demand for cement to be around 1.6 million tonnes in 2021, backed by ongoing infrastructure projects such as the Pan Borneo Highway, Coastal Road, and Baleh Hydro Dam.