ML Activation with valuation at company level

Dear experts,

We have done some testing regarding the ML Activation with valuation at company level. To our understanding, the ML can't be activated with material valuation at company code level (the ML active indicator in the material master can't be activated), and to my understanding, cost estimate can't be created at this level of valuation, thus meaning that actual cost component split activation is not possible also.

Are we missing something here?

Please kindly suggest

Thank you very much in advance

Best Regards,
Erwin Hartono