Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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30 Property Development The Property Development Division owns a large land bank in and around Kuching. Of this, the 2 major assets are the 5,200-acre land bank in Petra Jaya owned by Projek Bandar Samariang Sdn Bhd which is being developed into a riverine township called Bandar Baru Samariang and a 275-acre land bank in Muara Tebas owned by CMS Land Sdn Bhd which is being developed into Kuching’s new Central Business District, called The Isthmus. Bandar Baru Samariang The integrated township of Bandar Baru Samariang, with a variety of residential homes, a commercial centre and schools, is now home to some 25,000 residents. It is located 7 km from Kuching city centre and within easy reach of the beaches of Damai and Santubong. Completion of the road widening and upgrading works at Jalan Sultan Tengah at the end of 2010 has helped ease traffi c congestion to and from Bandar Baru Samariang. In addition, the completion by end 2012 of the Federal Administrative Centre road linking Bandar Baru Samariang directly both to the Sarawak River toll bridge and to the newly-built loop road running north-south through Bandar Baru Samariang, will radically transform accessibility. A revised Masterplan for the entire Bandar Baru Samariang has been approved and this has enabled development plans for the 2nd phase to commence. To date, works have commenced on an Industrial Park with a total land area of 130 acres and a 275-acre adjoining land parcel has been sold for development primarily into residential housing. This is in addition to CMS’ own plans for development of other parcels which include hypermarkets, schools, shoplots, public amenities and housing. Projek Bandar Samariang recorded a PBT of RM1.85 million resulting from 2.8 times higher unit sales in 2011 over 2010. With the improved road accessibility and the increased number and scale of projects now taking off in Bandar Baru Samariang, this upward trend looks set to continue. Cahya Mata Sarawak Berhad
The Isthmus Property Development The development lifecycle of new urban districts typically start slow and accelerate over time. Isthmus’ successful new Borneo Convention Centre Kuching (BCCK) has generated awareness. With the completion in 2012 of the new Sarawak Energy Berhad’s corporate headquarters (Sarawak’s fi rst Green Building Index certifi ed building), of the bridge linking Isthmus directly into Kuching’s main arterial roads and of the water taxi jetty across from BCCK, this will help CMS Land to fi nalise terms and commence construction for the many other developments currently in the pipeline. These include a hypermarket, retail shop houses, tertiary educational centre, hospital, hotel serviced apartments, housing, petrol stations, sports facilities and two signature offi ce buildings. Other Developments There is a planned launch of a new boutique upper end residential development within the Fairway Villa guarded estate in Kuching’s Petra Jaya. In South Kuching’s popular Tabuan area, a gated development is being fi nalised for launch in 2013. Other land parcels owned by this Division represent signifi cant opportunities in the future for development as Kuching grows and will be retained until appropriate development opportunities arise. Annual Report 2011 31
Page 1 and 2: Playing Our Role In Nation-building
Page 3 and 4: CONTENTS 2 3 4 8 13 14 15 20 Perfor
Page 5 and 6: Revenue (RM’000) Profi t before t
Page 7 and 8: “ Dear Shareholders, Group Chairm
Page 9 and 10: Whilst the opportunities for the Gr
Page 11 and 12: 10 Mar 4 May 19 May 26 May 27 Jun 2
Page 13 and 14: 24 Feb 1 Jul 19 Oct 30 Nov 24 Feb 1
Page 15 and 16: ��
Page 17 and 18: Board of Directors Tan Sri Dato’
Page 19 and 20: Y Bhg Dato’ Richard Alexander Joh
Page 21 and 22: Y Bhg Datu Michael Ting Kuok Ngie M
Page 23 and 24: DAVID LING KOAH WI Group General Co
Page 25 and 26: Segmental Analysis Segment Revenue
Page 27 and 28: Clinker CMS Cement owns East Malays
Page 29 and 30: Quarrying CMS Quarries Sdn Bhd and
Page 31: Construction & Road Maintenance The
Page 35 and 36: Education CMS Education Sdn Bhd own
Page 37 and 38: Strategic Investment: K&N Kenanga H
Page 39 and 40: CORPORATE RESPONSIBILITY
Page 41 and 42: Engagement & Communication Performa
Page 43 and 44: CMS Concrete Products Clay bricks m
Page 45 and 46: CMS Employees Volunteer in ‘Doing
Page 47 and 48: CSR Highlights Saving Lives Health
Page 49 and 50: Statement of Corporate Governance T
Page 51 and 52: Employees’ Share Option Scheme (
Page 53 and 54: Prior to each Board meeting, the Di
Page 55 and 56: Statement of Corporate Governance T
Page 57 and 58: Communicating with Shareholders and
Page 59 and 60: Responsibility The Board recognises
Page 61 and 62: Composition The Group Audit Committ
Page 63 and 64: Authority i. The Committee is autho
Page 65 and 66: Utilisation of Proceeds raised from
Page 67 and 68: FINANCIALS
Page 69 and 70: The directors have pleasure in pres
Page 71 and 72: Issue of Shares During the fi nanci
Page 73 and 74: Statement by Directors Pursuant to
Page 75 and 76: Independent Auditors’ Report To t
Page 77 and 78: ASSETS Group Company Note 2011 2010
Page 79 and 80: Statements of Changes In Equity For
Page 81 and 82: Statements of Cash Flows For the fi
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Statements of Cash Flows For the fi
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Notes to the Financial Statements F
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5. Interest income Notes to the Fin
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8. Profi t before tax Notes to the
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10. Directors’ remuneration (cont
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12. Earnings per share (a) Basic ea
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13. Property, plant and equipment (
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14. Prepaid land lease payments Cos
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18. Goodwill Notes to the Financial
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19. Investments in subsidiaries (co
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20. Investments in associates (cont
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22. Deferred tax (contd.) Notes to
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24. Trade and other receivables (co
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25. Other current assets Notes to t
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28. Cash and bank balances (contd.)
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30. CMS Income Securities (contd.)
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30. CMS Income Securities (contd.)
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32. Trade and other payables Notes
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36. Other reserves (contd.) Company
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38. Employee benefi ts (contd.) Not
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39. Commitments (contd.) Notes to t
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40. Contingencies (contd.) (b) Othe
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41. Related party transactions (con
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45. Segment information Notes to th
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46. Dividends Notes to the Financia
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OTHER INFORMATION
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Name of Direct Indirect % of Substa
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List of Properties As at 31 Decembe
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** Land owned by third party Revalu
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Construction & Road Maintenance CMS
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1. To receive the Audited Financial
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Names of Directors who are standing
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Form of Proxy No. of Shares Held: C
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CAHYA MATA SARAWAK BERHAD (Company
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Notes to the Financial Statements - Cahaya Mata Sarawak Bhd

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