OM Holdings to buy out Cahya Mata Sarawak's stake in Samalaju smelting project

KUALA LUMPUR: OM Holdings Ltd's subsidiary OM Materials (S) Pte Ltd has entered into a deal with Samalaju Industries Sdn Bhd, a unit of Cahya Mata Sarawak Bhd, that will see the latter exit its investment in the ferrosilicon and manganese alloy smelting complex in Samalaju Industrial Park in Sarawak.

In separate filings with Bursa Malaysia, OM Holdings and Cahya Mata Sarawak said they have inked a binding letter of offer for the latter to sell its entire equity interest in OM Materials (Sarawak) Sdn Bhd and OM Materials (Samalaju) Sdn Bhd to OM Holdings for US$120mil (RM520.72mil).

Start your ads-free experience now!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Waz Lian founder Tan Sri Ta Kin Yan passes away at 72
Oil posts weekly gain on solid 2024 demand outlook
Prabowo aims to raise Indonesia debt-to-GDP ratio toward 50%
Laundry Care ventures into linen rental business
Oriental Kopi files for Bursa IPO
BHIC wins RM1bil govt job
MI Technovation prepares for chip recovery
Local furniture export outlook hinges on US housing market
Luxury labels slash prices to attract wary shoppers
Delay in rate cuts but bonds rally

Others Also Read