Vietnam to face surplus at end-2010

Vietnam to face surplus at end-2010
Published: 28 November 2010

Vietnam is projected to face a cement glut of 3.5Mt of cement this year, the Ministry of Construction said.

The country’s cement and clinker exports will be modest at 700,000t in 2010, the Tuoi tre online newspaper cited the MoC as saying Tuesday.

Vietnam Cement Industry Corporation (Vicem), which now holds nearly 40% of the domestic market share, is estimated to export 500,000t of cement and clinker this year, failing to realise its target of 1Mt.

The country’s cement consumption is estimated at 49.5Mt and 50Mt in 2010 and between 54.5Mt and 56Mt in 2011.

As at Sept 30, net assets per share were RM3.69 from RM3.76 the previous year. Despite the fall in earnings, Lafarge declared a third interim single-tier dividend of eight sen per share in respect of the financial year ending Dec 31, 2010.