KUCHING: Sarawak Economic Development Corporation (SEDC) has further trimmed its shareholdings in Cahya Mata Sarawak Bhd (CMS), with the disposal of 169,700 shares on September 26. This reduced its stake in the Sarawak conglomerate to about 57.23 million shares (5.325%), according to CMS’s filing with Bursa Malaysia.
The latest sales came two months after SEDC disposed of 3.5 million shares in CMS on July 28.
SEDC and CMS have a longstanding joint-venture business relationship. In September 2020, CMS ceded its controlling stake in quarry and premix operations as well as road construction and maintenance businesses by selling a two per cent interest in CMS Resources Sdn Bhd and PPES Works (Sarawak) Sdn Bhd to SEDC for RM17.5 million.
The transaction gave SEDC a 51 per cent-controlling stake in both companies.
On September 9, 2025, CMS announced that its subsidiary Cahya Mata Phosphates Industries Sdn Bhd’s phosphate plant in Samalaju Industrial Park, Bintulu had its electricity supply reconnected by Syarikat SESCO Bhd.
SESCO terminated the electricity supply to the plant on July 10, 2023 following a dispute on power purchase agreement with Cahya Mata Phosphates.
CMS Phosphates is primarily engaged in the manufacturing of yellow phosphorous, technical phosphoric acid and food grade acid. The plant has yet to commence commercial production.
On a 52-week period, CMS shares were rated between 78.5sen and RM1.45. The stock closed at RM1.26 on Tuesday, giving the company a market capitalisation of about RM1.36 billion.
