I had expected a larger contribution from Associates in the March 2022 CMSB report.
OM Sarawak contribution in March 2021 was RM13.5 million, the contribution in March 2022 was RM19.55 million higher than last year, so a total contribution of RM33.05 million.
Still not as high as I had previously calculated. One must assume that CMSB would be paying their share of furnace conversions etc, so the distributed profits would be less.
The sales of alloys for the March 22 Quarter was in excess of 88,000 tonnes and even a modest profit of US$500/tonne would equal US$44 million.
The CMSB declared profit for 2021Q4 was RM40.52 million on sales of 92,677 tonnes which was 4,317 tonnes more.
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