Cement News tagged under: Malaysia

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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...

Lafarge Malayan Cement 1Q13 revenues edge ahead

23 May 2013, Published under Cement News

Lafarge Malayan Cement reported a YoY slight rise in consolidated revenue for the first quarter of 2013 but income from its cement division was impacted by a tough pricing environment. Its 2013 results are expected to be driven by key government infrastructure projects led by the Economic Transformation Programme (ETP) and 10th Malaysia Plan (10MP) and the company is also considering expanding capacity. Consolidated revenues for the first quarter of 2013 were MYR644.9m (US$212m), slightl...

Lafarge Malayan Cement mulls expansion

01 April 2013, Published under Cement News

Lafarge Malayan Cement may expand capacity in a bid to maintain market share as local rivals increase capacity amid rising domestic demand. The company is the country's leading cement producer and currently occupies a 40 per cent share of the market. Its major rivals are YTL Cement and Cement Industries of Malaysia (CIMA) both of which have planned capacity expansions. New entrant Hume Industries, which has constructed a new 1.5Mta plant, has also stepped up competition on the local marke...

Tasek 4Q net profit falls 71% on pricing pressure, Malaysia

19 February 2013, Published under Cement News

Tasek Corporation Bhd reported a 71 per cent YoY drop in fourth-quarter 2012 net profit, mainly due to a lower performance of its cement division as a result of pricing pressures and increased competition. Net profit in the three months to 31 December 2012 fell to MYR26.09m from MYR44.60m the year before. Revenue, however, fell marginally by MYR1.6m to MYR564.5m due to lower sales of clinker and ready-mix concrete. Group pretax profit fell by MYR13m to MYR119.3m the year before due to an ...

Lafarge Malayan Cement warns of weak 4Q

05 December 2012, Published under Cement News

Lafarge Malayan Cement said it expects the fourth quarter to be weak as demand has been impacted by the rainy season. At a briefing last Friday, the company said its recent unilateral price hike in August 2012 will be dampened somewhat by rebates and discounts. Analysts at CIMB Research had earlier expected the hike in prices to be the key driver in the second half of 2012, and underestimated the impact of the weather patterns on cement demand. Operating costs over the next four quarte...