Cement News tagged under: Malaysia

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Malaysia: CMS pretax profit buoyed by cement division

04 March 2014, Published under Cement News

Cahya Mata Sarawak Bhd (CMS) registered a 30 per cent YoY rise in pretax profit to MYR295.27m in 2013, driven mainly by higher earnings from its cement division. The cement segment saw a 46 per cent rise in pretax profit to MYR96.66m mainly due to the successful re-commissioning of its upgraded clinker plant. Commenting on the results, CMS group managing director Dato Richard Curtis said, “For this financial year, significant achievements have been recorded amongst all the core divisio...

Lafarge Malaysia holds off on price hike

27 February 2014, Published under Cement News

Lafarge Malaysia Cement has no immediate plans to increase cement prices, despite a hike in electricity tariffs this year its president and CEO, Bradley Mulroney, said. The company last increased prices in August 2012 when it implemented a MYR20/t increment. “I wouldn’t say it is an urgent need to increase price. But when the input cost is going up, of course we have to review on a monthly basis,” Mulroney said. “We will work on maintaining energy efficiency in our operation...

Malaysia: Lafarge's net profit rises by 24.7%

20 November 2013, Published under Cement News

Lafarge Malaysia Bhd's net profit for the third quarter ended 30 Sept 2013 rose 24.7 per cent to MYR120.2m (US$37.7m) from MYR96.4m a year ago. Its revenue climbed 2.7 per cent YoY to MYR728m compared with MYR708.8m earlier. Earnings per share stood at 14.2 sen from 11.3 sen last year. In a filing with Bursa Malaysia, Lafarge said the higher revenue was mainly due to higher sales volume in cement and concrete in line with growth in market demand. For the nine months ended 30 Sep, Laf...

Malaysia: Merapoh state rejects ideas for cement plant

18 November 2013, Published under Cement News

Cement plant plans in Malaysia's Pahang state are to lose out to an ecotourism project. The Pahang state government has promised that there will be no cement production plant at Merapoh, but will ensure a plan to convert the area to an ecotourism destination. Pahang Tourism and Culture Committee chairman Datuk Mohd Sharkar Shamsuddin said they were now surveying the size of the area to be gazetted for ecotourism purposes. The land was held by Bintang Tower, while the cement manufacturing l...

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...

CMS Sarawak confident on long-term outlook, Malaysia

11 September 2013, Published under Cement News

CMS Sarawak is confident on the long-term outlook for cement demand in the state of Sarawak despite a potential slowdown in the second half of this year. CMS Sarawak’s subdued second-half outlook is due to lower government expenditure following higher spending in the first half. However, group managing director Datuk Richard Curtis said growth in Sarawak would continue to accelerate in the longer term as both the state and federal governments recognised the need for infrastructure developm...

Malaysia: Lafarge's LMCB secures loan agreement

21 August 2013, Published under Cement News

Lafarge Malaysia Cement Bhd (LMCB) has converted the MYR580.69m (USS$225m) fixed rate notes due 2013 into an inter-company term loan with M-Cement Sdn Bhd. The company executed a loan agreement with M-Cement to convert the notes into a five-year inter-company term loan. M-Cement is the sole note holder. The conversion of the notes into an inter-company loan does not have any impact on the consolidated net debt position of the Lafarge Malaysia Group. Following the latest development, Lafarg...

Lafarge Malaysia to open R&D laboratory

14 August 2013, Published under Cement News

Lafarge Malaysia Bhd plans to set up a research and development laboratory to provide solutions to Malaysia’s construction industry and anticipated housing requirements. Bradley Mulroney, President and CEO of the company said Malaysia faced its biggest challenge in offering an affordable prices for housing units, especially in the urban areas. "With most population dominating the urban areas and cost of living tremendously high, we do not want the people, especially the younger generation,...

Lafarge Malayan Cement changes name to Lafarge Malaysia Bhd

31 May 2013, Published under Cement News

Lafarge Malayan Cement Bhd has been changed to Lafarge Malaysia Bhd, Bursa Malaysia Bhd announced yesterday. Bursa said the new stock short name for the company is LAFMSIA. The company's shares will be traded and quoted under the new name, with effect from 31 May 2013, it said.

Lafarge Malayan Cement to finalise expansion plans by August

27 May 2013, Published under Cement News

Lafarge Malayan Cement is expected to finalise plans for a new expansion project by the end of August this year, according to the company's chief executive Bradley Mulroney. "We are very close to finalising the option we want to adopt for our next phase in terms of expansion," Mr Mulroney told reporters, adding that a decision is likely to be made at the company's board meeting in August. Mr Mulroney expressed confidence in the growth potential for Malaysia's cement demand which will b...