Norways Norges Bank emerges as CMSs substantial shareholder

CMS in a statement said the central bank has acquired 54.05 million shares, which represents a 5.03 per cent stake in the company.

KUALA LUMPUR (Sept 15): Cahya Mata Sarawak Bhd (CMS) has announced that Norways central bank and sovereign wealth fund manager, Norges Bank, has officially become a substantial shareholder of the company.

In a statement today, CMS said the central bank has acquired 54.05 million shares, which represents a 5.03 per cent stake in the company.

Norges Bank’s mission is to promote economic stability and manage substantial assets on behalf of the Norwegian people.

As part of its investment strategy for the Government Pension Fund Global, Norges Bank seeks to optimise returns within the framework of its investment mandate, it said.

CMS is a well-established conglomerate based in Sarawak with diversified business interests that include cement, phosphates manufacturing, oil tools, road maintenance, property development, financial services, and telecommunication infrastructure.

Recently, the group has expanded into the circular economy arena with the acquisition of Cahya Mata Alam Sdn Bhd, a research and development centre, as well as a manufacturing plant of eco-composite materials. – Bernama