Malaysia’s super-rich, hard hit by the market following the outbreak of Covid-19, saw billions being wiped out of their fortunes. On the other hand, entrepreneurs involved in the making of rubber gloves minted more money, while new billionaires emerged from the tech manufacturing sector as shares of their companies soared in 2020.
THE outbreak of the Covid-19 pandemic in 2020 has delivered a brutal hand to the country’s economy, bringing unprecedented challenges to the general public and corporate sector.
And if this may offer some consolation amid the plunging values of your retirement and savings accounts, some of Malaysia’s wealthiest individuals have lost lots of money too, a survey on Malaysia’s 40 Richest individuals for 2020 showed.
OM Materials (Sarawak) Sdn Bhd, 25%-owned associate of Cahya Mata Sarawak Bhd (CMS), raised the sales volume of its manganese alloys by 64% to 81,576 tonnes during the October-December 2020 quarter (4Q2020) from 49,720 tonnes in 3Q2020.
KUCHING: OM Materials (Sarawak) Sdn Bhd (OM Sarawak), which operates a ferroalloy smelting plant in Samalaju Industrial Park, Bintulu, has sharply increased the sales of manganese alloys on strong recovery prices. (CMS) raised the sales volume of its manganese alloys by 64% to 81,576 tonnes during the October-December 2020 quarter (4Q2020) from 49,720 tonnes in 3Q2020.
“Marketing activities picked up during the quarter ended Dec 31,2020 following an increase in end-user demand which resulted in higher sales and shipment volumes, ” said Australian-listed OM Holdings Ltd (OMH), which owns the remaining 75% stake in OM Sarawak, after it released its full-year financial result last Thursday.
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