Shortlist of candidates for CIMA sale

Shortlist of candidates for CIMA sale
21 November 2023

Seven companies have been identified as potential purchasers of Cement Industries of Malaysia Bhd (CIMA), part of the UEM Group Bhd. According to The Edge Malaysia, of the seven shortlisted candidates, at least three are believed to be foreign - one from Germany, another from the Philippines and one from China.

One source reportedly confirmed that none of the candidates are CIMA competitors, so the transaction should not result in any anti-competition issues. In August 2023, UEM Group said it was looking for around RM1bn (US$214.2m) for CIMA. 

CIMA reported revenue of RM1.06bn in 2022 but a pre-tax loss of RM40.71m. CIMA’s main asset is Negeri Sembilan Cement Industries Shd Bhd, which posted revenue of RM1.04bn in 2022, along with a pre-tax loss of RM27.71m. 

Published under Cement News

Tagged Under: CIMA Malaysia South Asia