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    OMH   BMG6748X1048

OM HOLDINGS LIMITED

(OMH)
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OM Holdings Limited Provides Business Update on its Malaysian Operations

07/05/2021 | 01:02am EST

OM Holdings Limited provided a business update on its Malaysian operations further to the announcement made on 28 May 2021. The Company's smelter complex in Sarawak, Malaysia ("OM Sarawak" or the "Plant") has been temporarily suspended since 28 May 2021 following directions from relevant Government Authorities. The Company is now pleased to announce that it has been granted approval to resume operations. Accordingly, operations have recommenced initially with four furnaces within a phased plan to ramp-up production in stages given the constrained manpower environment and the Company's focus to prioritise employee safety. As a result of the temporary suspension at the Plant, the Company had declared force majeure on all its sales contracts and its power purchase agreement until the Plant is able to resume and achieve steady state operations. During the temporary suspension, the Company was able to partially mitigate the impact to its supply chain by arranging for partial delivery of processed material to customers through third party logistic service providers. Multiple rounds of COVID-19 testing were conducted throughout June 2021. As at the time of writing, a total of 37 employees remain in quarantine. As a result of actively managing the segregation of Plant employees and continued COVID-19 testing, the Company has been granted approval by the Bintulu Division Disaster Management Committee to resume operations, and the lockdown on the affected premises has been lifted. The Company has initially recommenced operations with four furnaces earlier last week, operated by employees who have tested negative and been cleared to resume work, with a plan to ramp up production in stages, subject to manpower availability and further clearances from relevant authorities. Given on-going restrictions, such as the extension of the Movement Control Order (the "MCO") for Sarawak and taking into consideration the safety and wellbeing of all employees following a prolonged quarantine period, it is expected that the Plant may not be able to return to prior production levels in the short term.


ę S&P Capital IQ 2021
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Financials
Sales 2021 947 M 677 M 677 M
Net income 2021 62,4 M 44,6 M 44,6 M
Net Debt 2021 - - -
P/E ratio 2021 11,2x
Yield 2021 -
Capitalization 696 M 496 M 497 M
Capi. / Sales 2021 0,73x
Capi. / Sales 2022 0,56x
Nbr of Employees -
Free-Float 55,1%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,95 AUD
Average target price 1,35 AUD
Spread / Average Target 42,9%
EPS Revisions
Managers and Directors
Ngee Tong Low Executive Chairman & Chief Executive Officer
Peng Chin Tan Independent Non-Executive Director
Liang Huat Teo Independent Non-Executive Director
Abdul Hamid bin Sh Mohamed Independent Non-Executive Director
Ming Li Tan Independent Non-Executive Director