The CMSB Quarterly report is now available.
http://www.insage.com.my/Upload/Docs/CMSB/CMSB Q2 2018.pdf#view=Full
This shows the June Qtr profit for OM Sarawak. of RM 12,897,750 for 25% OMH share is AUD$38.7 million.
What is surprising is the increase over the March Qtr which was RM 11,974,000 for 25% OMH share was AUD$35.9 million, the volume of sales was down by a total of 26,847 tonnes of alloys in the second quarter due to the 2 local festivals, but the income was nearly $3 million more. Therefore getting a higher margin per tonne, but it seems excessive.
Possibly OMH gets extra SSS from the partnership as the overall profit from smelting on the OMH Financial Report is $87.5 million this is $12.9 million more than the sum of $38.9 + $35.9 million. Obviously OMQ China is added into the smelting contribution of $87.5 million but it would only account for about $3 million max.
Any suggestions, where the extra $10 million comes from?
The CMSB Quarterly report is now available....
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