CIMA and Vicat disagree over control

CIMA and Vicat disagree over control
Published: 21 June 2006

Cement Industries of Malaysia Bhd (CIMA) said talks to sell a stake in five of its units to France’s Vicat were unsuccessful because it was unwilling to sell a controlling stake, the Edge financial daily reported.  
 
UEM World holds a 54 per cent stake in CIMA The newspaper cited UEM World’s managing director, Ahmad Pardas Senin,.   as saying that CIMA wants to keep a controlling stake in its five units, including Negeri Sembilan Cement Industries Sdn Bhd, Pemasaran Simen Negara Sdn Bhd, Unipati Concrete Sdn Bhd, Cimaco Edar Sdn Bhd and Cimaco Quarry Sdn Bhd. “Essentially, they asked for a controlling stakes, but that is the same thing we want,” he said.