Cement News tagged under: Hong Leong Industries Bhd

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Malaysia: Narra Industries to buy preference share in Hume Cement

18 June 2014, Published under Cement News

Narra Industries Bhd, which is primarily an investment holding company for furniture and previously fibre cement, has won shareholder approval to diversify its business portfolio with new cement assets. The company will acquire concrete and cement assets from its sister companies under the Hong Leong Group. According to a filing with Bursa Malaysia, the vote was 99.08 per cent  in favour for the resolution of acquiring Hume Industries (Malaysia) Sdn Bhd, Hume Cement Sdn Bhd (HCement) and ir...

Hong Leong Industries in corporate restructuring

25 September 2013, Published under Cement News

Hong Leong Industries Bhd (HLI) is selling its 100 per cent stake in Hume Industries (Malaysia) Sdn Bhd for MYR48m (US$14.9m) and preference shares in Hume Cement Sdn Bhd for MYR300m (US$93m) to Narra Industries as part of a corporate restructuring exercise. The move of both companies, which each come under the Hong Leong Group, would see the disposals of the 300 million Hume Industries shares and entire 175,000,000 six-year two per cent non-cumulative irredeemable convertible preference s...