Lafarge Malaysia shareholders vote down RPTs with YTL Cement

Minority shareholders of Lafarge Malaysia have voted down a plan to enter into recurrent related party transactions (RPTs) with YTL Cement, estimated to be worth about MYR3.5bn (US$837.92m).

The proposal was rejected by 76 per cent of the shareholders, according to a bourse filing. The RPTs would have allowed Lafarge to deal with YTL on the sale and purchase of clinker, cement and pulverised ash, and also fees for services and rental of properties in Johor and Singapore.