Cement News tagged under: Malaysia
Hong Leong Asia looks to complete Tasek Corp takeover29 May 2019, Published under Cement NewsSingapore-listed Hong Leong Asia is looking to take Malaysia’s Tasek Corp private in a deal worth an estimated MYR128.61m (US$30.6m), according to The Edge. The company currently controls 80.8 per cent of Tasek through two subsidiaries, HL Cement (Malaysia) and Ridge Star, and has submitted a voluntary takeover offer to acquire the remaining shares. Together, the subsidiaries hold 97.89m ordinary shares in Tasek, with the takeover involving the remaining 19.2 per cent of ordinary shares ... |
YTL executives appointed to Lafarge Malaysia board while CEO resigns20 May 2019, Published under Cement NewsYeoh Khoon Cheng has resigned as CEO of Lafarge Malaysia although he will stay on as the group’s executive director. In addition, Lafarge Malaysia Vice Chairman, Martin Kriegner, and non-independent and non-executive directors John William Stull and Datuk Tan Pei Ling have also resigned. In a separate move, several YTL Corp Bhd executives have been appointed to the company’s board. YTL Corp Executive Chairman, Tan Sri Dr Francis Yeoh, and Managing Director, Datuk Yeoh Seok Kian, have bee... |
Cahya Mata Sarawak reports 5% rise in net profit15 May 2019, Published under Cement NewsMalaysia's Cahya Mata Sarawak Bhd (CMS) has announced a five per cent YoY increase in net profit to MYR40.76m (US$9.76m) from MYR38.98m for the first quarter of 2019, with the rise attributed to a stronger performance across its core businesses. Quarterly revenue advanced 17.8 per cent to MYR418.8m, compared to MYR354.99m in the year-ago period. The company’s cement division reported a 67 per cent higher profit before tax in the quarter due to higher sales and lower clinker production cost... |
The new Asian paradigm01 April 2019, Published under Cement NewsThis week CemNet news reported on the latest developments in LafargeHolcim's (LH) sale of Holcim Philippines Inc. Shares in the company have risen 50 per cent since January 2019, giving the cement maker a US$1.3bn market value, according to Bloomberg data. A decade ago, every cement major wanted to grab a piece of the Emerging Market pie. What happened? Holcim Philippines operates five plants with 9.6Mta capacity, following the recent grinding mill expansion at its La Union plant in North L... |
Yeoh Khoon Chen redesignated as Lafarge Malaysia CEO14 March 2019, Published under Cement NewsLafarge Malaysia’s CFO Yeoh Khoon Cheng has been redesignated as the company’s CEO with immediate effect. On 16 November last year he was appointed interim CEO. He is a member of the Malaysian Institute of Certified Public Accountants and joined Lafarge in 1987 as a finance manager. Since then, he has held various positions in the group’s business development, mergers and acquisitions and corporate finance. In January 2016, he was appointed CFO in Huaxin Cement Ltd – post which he held unt... |
Lafarge Malaysia to benefit if East Coast Rail Link is revived08 March 2019, Published under Cement NewsLafarge Malaysia Bhd is in a great position to benefit from a resumption of the East Coast Rail Link's (ECRL), because the cement manufacturer has won contracts under the project, says Affin Hwang Investment Bank Bhd. Lafarge Malaysia's shares rose 30 per cent yesterday on the news that the rail project might be revived, having been suspended in July 2018. "We understand that the government will likely decide after Prime Minister Tun Dr Mahathir Mohamad's visit to China in April. If the p... |
CTP Team wins Malaysian ESP to baghouse conversion project13 December 2018, Published under Cement NewsItaly-based CTP Team has been awarded a turnkey project for air pollution control in Malaysia for the conversion of an existing PL1 raw mill electrostatic precipitator (ESP) into a fabric filter as well as the upgrade of an existing exhaust fan. CTP Team has signed a turnkey contract with YTL Cement, for the conversion to bag filter of an ESP of Perak-Hanjoong Simen's cement plant in Pedang Rengas, Malaysia. The project consists of a full turnkey solution for the conversion into a more effi... |
YTL Corp records 11.3% net profit decline26 November 2018, Published under Cement NewsMalaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected to achieve satisfactory performance for FY19," stated the company. Company revenue in the first qu... |
Lafarge Malaysia records 3Q18 net loss of MYR109m21 November 2018, Published under Cement NewsLafarge Malaysia recorded a net loss in 3Q18 of MYR109.28m (US$26m) down 160 per cent from MYR42.01m in 3Q17. Revenue fell by 14 per cent YoY to MYR495.1m in 3Q18. The decline in earnings was down to lower cement sale and higher operating expenditure. Higher energy prices, as well as the lower production output and timing of the scheduled plant maintenance put pressure on costs. "The decrease was due to the soft market demand and continuing domestic pricing pressures," said Lafarge Malay... |
Mario Gross steps down as CEO of Lafarge Malaysia20 November 2018, Published under Cement NewsMario Gross of Lafarge Malaysia stepped down from his role as president and CEO of the company on Friday, after seven months in the position. Mr Gross has been assigned to a new role in the LafargeHolcim group but will also continue as a non-independent non-executive director from 16 November to 31 December this year to facilitate the transition. "During his tenure here, Gross laid the groundwork for the business turnaround plan, putting in place an experienced leadership team and strengt... |