Timely exit for Cahya Mata Sarawak

KUALA LUMPUR: MIDF Research said Cahya Mata Sarawak Bhd (CMS) is making a timely exit from its ferroalloy smelting business in Sarawak.

Owing to the spike in commodity prices, it said the disposal of its 25% stakes in OM Materials (Sarawak) Sdn Bhd and in OM Materials (Samalaju) Sdn Bhd for a total cash consideration of US$120mil (RM526.6mil)would allow the group to unlock its investments at a higher value.

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