Chris Lim, CEO of CNMC: "We are optimistic that CNMC’s low production cost strategy and the greater economies of scale will further improve our performance amidst the volatility of gold price." NextInsight file photoCNMC Goldmine’s net profit increased by 239.7% from US$1.01 million in FY2012 to US$3.43 million in FY2013. A big boost came in 4Q when its production of fine gold in Kelantan, Malaysia, surged 335.6% from 1,334.60 oz in 4Q2012 to 5,813.26 oz in 4Q2013.
With that, revenue from sales of fine gold increased by 230.8% from US$2.23 million in 4Q2012 to US$7.38 million in 4Q2013.
The shiny performance in 4Q derived from significant economies of scale which were first experienced in 3Q2013 when CNMC's second leach pad became operational, enabling the Group to register all-in costs of US$775 per oz then.
The Group achieved even lower all-in costs of US$761 per oz in 4Q2013.
The management expects further improvement in its cost structure through further economies of scale when the third leach pad goes into production this year.
CNMC is proposing a final dividend of 0.1 cent per share. Just last month (Jan), it had paid out a surprise interim dividend of 0.1 cent a share.
These are its first payouts since its listing in Oct 2011, and constitute a dividend yield of just 0.8% on its recent stock price of 25 cents.
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 Group MD Or Toh Wat: ”We remain optimistic due to our robust pipeline of projects." Photo: CompanyOKP Holdings has proposed a final dividend of 0.3 cent a share, or a dividend payout ratio of 19.2%.Its revenue increased 22.8% year-on-year to S$128.3 million but net profit declined 61.1% to S$4.8 million for the year ended 31 December 2013. The growth in revenue was contributed by an overall increase in each of the Group’s two core business segments, namely, construction and maintenance. Net profit declined due to industry competition, unforeseen costs from certain sewage-related projects and rising variable costs such as manpower and sub-contractor costs. The construction segment continued to drive revenue, growing 9.2% yoy to contribute S$100.0 million or 77.9% of revenue. The increase came from recognition of a few key construction projects as they entered full swing in FY2013. In comparison, the maintenance segment surged 118.4% to record S$28.3 million or 22.1% of revenue in FY2013. This was a result of projects progressing to a more active phase in FY2013 with a higher percentage of revenue recognised from existing and newly-awarded projects. The Group has an order book of secured contracts valued at S$373.3 million, with projects lasting till 2015. Group MD Or Toh Wat said: “While we expect the operating environment for the construction sector to remain challenging in the year ahead due to rising business costs and a tight labour market, we remain optimistic due to our robust pipeline of projects. "We will continue to refine our expertise in the civil engineering space, which will improve our chances of securing large-scale infrastructure and civil engineering projects.” |
