By Adrian Lim
KUCHING, June 21: Cahya Mata Sarawak Bhd (CMS) is well-positioned to tap opportunities in infrastructure development in Sarawak.
CMS group managing director Datuk Isaac Lugun in a press statement revealed the group is eyeing more opportunities from the development of infrastructure in the state following the conclusion of the company’s annual general meeting (AGM) last Thursday (June 18).
He believed CMS operations are back on track following the Covid-19 pandemic in Sarawak which caused work on some infrastructure projects to be halted during the Movement Control Order (MCO) period.
With the country in the recovery phase of the economy following the Covid-19 pandemic, Isaac asserted CMS is primed to capture opportunities in three major growth areas within Sarawak.
“Opportunities abound within the Sarawak Corridor of Renewable Energy (Score) and CMS’ associate company, OM Materials (Sarawak) Sdn Bhd and subsidiary, Malaysian Phosphate Additives (Sarawak) Sdn Bhd.
“They are well positioned to capitalise on the energy-intensive industries they are engaged in within Score.
“On top of this, there are ample opportunities to be tapped via the unprecedented spike in infrastructure development in Sarawak.
“To this end, the group’s cement, construction materials and trading, as well as construction and road maintenance divisions are ramping up their operations to cater to market needs.
“Finally, as Sarawak wholeheartedly embraces the digital economy, CMS is ready to play a leading role in telecommunications infrastructure development activities through our strategic stake in telecommunication player, Sacofa Sdn Bhd,” he revealed.
He added that CMS will continue to bring into play a three-pronged strategy which will see the group working to reposition and fortify its traditional core businesses.
He believed the group is on track to achieve an annual net profit target of RM500 million within the next five years.
“Despite the challenges besetting our economy and many companies, we are confident of getting back on track to regain whatever momentum we have lost,” Isaac added. — DayakDaily