CIMA projects higher profit for this year, Malaysia

CIMA projects higher profit for this year, Malaysia
16 September 2008

Cement Industries of Malaysia Bhd(CIMA) which registered a pre-tax profit of RM85.4m last year is projecting a higher profit for its financial year ending December 2008, citing a higher demand for cement in the domestic market as the base for its confidence.

Managing director, Che Halin Mohd Hashim when met by Bernama said the upcoming economic corridor projects had also boosted demand for cement.

While Che Halin could not give the specific profit projected, he said it would be more than last year’s amount.

CIMA has adopted three core strategies this year to expand its market and product range, as well as its production capacity and the optimisation of labour cost at its factory.

Speaking to reporters following a gathering in conjunction with the Ramadan month, at Bukit Keteri near here, last night, Che Halin said the company had enough natural resources to last for another 100 years.

"We are confident of further expansion here," he said when asked on the limestone resources in Bukit Chuping. Limestone is the main ingredient for the cement industry.

The cement industry in Bukit Keteri, Chuping would still last for another century and the scope for market expansion remains high.

At its annual general meeting in June, the company which was incorporated in 1975 announced a 63 per cent rise in its pre-tax profit.

The market for cement produced by CIMA is also high as it is also the supplier for projects by UEM Group which has 50.68 per cent interest in CIMA.
Published under Cement News