Cement News tagged under: Malaysia
YTL Corp founder dies19 October 2017, Published under Cement NewsYeoh Tiong Lay, the founder of and execuitive chairman of group YTL Corp, passed away on Wednesday, the group said in a news release. He was 88 years old. Mr Yeoh founded what was originally a construction company in 1955 and undertook civil works while the country was under British colonial rule before participating in development projects after independence in 1957. He assumed the role of executive chairman in 1985, allowing Francis and his six other children to run the group's day-... |
LafargeHolcim11 September 2017, Published under Cement NewsLafargeHolcim’s subsidiary Lafarge Malaysia has reported a first-half turnover decline of 18 per cent to MYR1090m (EUR214m/US$259.7m) and there was a net loss of MYR92.02m (EUR18.27m) compared with a MYR39.01m profit at this stage last year. According to the company, the deterioration in the result reflects a lower revenue contribution from the cement segment, higher charges for depreciation, fuel and electricity LafargeHolcim’s subsidiary Bamburi Cement in Kenya has announced a 1H turnov... |
CIMB Equities Research encouraged by Lafarge Malaysia's 2Q17 performance11 September 2017, Published under Cement NewsCIMB Equities Research is maintaining a 'Hold' verdict on Lafarge Malaysia. The research entity said on Monday it had raised its target price to MYR6.34 (US$1.50) from MYR5.50 (US$1.30). CIMB Research said it came away from Lafarge’s post-2Q17 results briefing last week with positive expectations of a gradual recovery in domestic cement demand, but it remains cautious on the earnings outlook for 2H17. Higher operating cost, sustained competitive pressure and restructuring costs could im... |
Lafarge Malaysia Bhd reports 2Q loss30 August 2017, Published under Cement NewsLafarge Malaysia Bhd posted a net loss of MYR44.09m (US$10.3m) in its second quarter of 2017, compared to a net profit of MYR18.36m in the corresponding period amid weaker domestic demand in its cement segment higher competition. Revenue dropped 19 per cent YoY to MYR531.77m from MYR658.8m, according to its Bursa Malaysia filing. “The situation was further exacerbated by the greater operating costs from higher fuel and electricity cost. This quarter’s loss was partially mitigated by a ... |
CMS reports rise in 2Q net profit29 August 2017, Published under Cement NewsCahya Mata Sarawak Bhd's (CMS) net profit jumped to MYR64.73m (US$15.2m) in the second quarter ended June this year from MYR7.9m in the same period a year ago. The increase is mainly attributed to lower handling costs, cheaper imported clinker bricks and lower clinker production costs brought about by the stable production and lower coal prices in the cement, construction and road maintenance, construction materials and trading divisions as well as improved sales in the property developme... |
Challenging year for YTL's cement division17 August 2017, Published under Cement NewsFY17 is proving to be a challenging year for YTL Corp’s cement business due to overcapacity and weak demand from the property segment, according to a report by Affin Hwang Investment Bank Research published in the The Edge Financial Daily. "Although we are expecting a higher demand from infrastructure and property in FY18, we believe the incremental demand is not sufficient to absorb the overcapacity, limiting the upside of the recovery in earnings," Affin Hwang noted. Apart from the c... |
CMS potential beneficiary of hydroelectric project04 July 2017, Published under Cement NewsCahya Mata Sarawak Bhd (CMS) could benefit from the Sarawak Baleh Hydroelectric Project (HEP) as the company is the sole cement producer and major building material supplier in the state, Maybank Investment Bank Bhd believes. The joint venture hydroelectric project between China Gezhouba Group Co Ltd and Untang Jaya Sdn Bhd would be looking to procure up to 45 per cent of locally-sourced content, which was expected to benefit local players, according to the research house. "CMS is a po... |
Challenging outlook for Lafarge Malaysia23 May 2017, Published under Cement NewsIn the first three months of this year Lafarge Malaysia reported a net loss of MYR48.9m (US$11.4m) compared to a net profit of MYR20.6m for the same period a year ago due to lower operating profit and worsening pricing pressure. The group’s revenue decreased by 16.1 per cent to RM561.9m YoY. “This decrease was mainly attributable to the lower sales contribution from the cement segment due to the soft market demand, coupled with the increased industry capacity and the continued pricing pr... |
Vietnam April exports up 6.7%19 May 2017, Published under Cement NewsVietnam exported more than 1.9Mt of cement and clinker, reflecting an export value of US$67.4m, according to the country’s Customs Department. This represents a YoY increase of 6.7 and 7.6 per cent, respectively. In the first four months of the year, the country exported 6.7Mt of cement and clinker, up 12.8 per cent YoY. In terms of value a 7.9 per cent rise to US$235m was reported. Bangladesh and the Philippines were the largest importers, accounting for 37 and 32 per cent, respectively o... |
Hume 1Q hit by lower prices, higher operating expenses18 May 2017, Published under Cement NewsFor the three months to the end of March 2017, Malaysia-based Hume Industries recorded revenue of MYR158.5m (US$36.7m), up 8.2 per cent on the recorded MYR145.5m a year earlier. Profit before tax saw a sharp decline to MYR1m from MYR15.9m in the same period of the previous year, which the company attributed to lower selling prices and higher operating expenses for the construction materials business. Going forward, the group expects the outlook to remain challenging in view of weakening de... |