Cement News tagged under: Malaysia

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Malaysian consumption to remain subdued in 2H19

15 August 2019, Published under Cement News

Malaysian cement consumption is expected to remain subdued in the second half of 2019, as the construction and property development markets remain weak, according to Khairul Azizi Kairudin, an analyst for Hong Leong Investment Bank Research (HLIB Research). "Beyond 2019, we expect cement prices to recover gradually, as construction activities pick up (expected by 1H20). However, […] the expected pick-up next year will happen on a gradual basis as work contribution from mega project revival...

Sabah considers new plant to ensure clinker supply

06 August 2019, Published under Cement News

Sabah Economic Development Corp (SEDCO) and Cement Industries (Sabah) Sdn Bhd (CIS) are reportedly considering plans to build a clinker plant to ensure supply into the Malaysian state, according to Bernama. Sabah Trade and Industries Minister, Datuk Wilfred Madius Tangau, confirmed that clinker is currently being imported from Peninsular Malaysia and abroad. "The cost structure for CIS is different from that of cement manufacturers in Peninsular Malaysia due to factors such as raw mate...

HL Cement (Malaysia) extends closing date for takeover

09 July 2019, Published under Cement News

HL Cement (Malaysia) Sdn Bhd (Hong Leong Group) has extended its takeover offer for the remaining shares in Tasek Corp Bhd to 22 July 2019. HL Cement (Malaysia) said the conditions of the takeover remained the same at MYR5.50/share and MYR5.50 per preference share. HL Cement owned 97.887m shares or 80.8 per cent in Tasek Corp Bhd on 18 June when the takeover offer was made, and on 5 July it owned 103.02m shares or 85.04 per cent.

Calls for higher cement prices in Sarawak to be investigated

24 June 2019, Published under Cement News

Malaysia’s Ministry of Finance has called for an investigation to determine whether monopolistic practises by the local cement industry in Sarawak is the cause of high cement prices in the state. "Cement is a basic building material and a drastic price increase will inevitably feed into the economy negatively, and eventually hurt consumers. At the same time, cement prices in Sarawak that are markedly higher than in Peninsular Malaysia should be further examined to determine whether it is ...

Producers: cement prices unsustainable in Peninsular Malaysia

17 June 2019, Published under Cement News

Cement prices in Peninsular Malaysia, which have been declining since 2016, have a reached an unsustainable level as production costs have increased, according to the country’s cement producers. While the Cement and Concrete Association of Malaysia said it cannot comment as cement prices are set by individual manufacturers independently, it highlighted the capital-intensive nature of the cement industry and the need to have a reasonable return on its investments to meet the expectations of...

YTL Corp sees cement revenue fall 4% in 9MFY19

04 June 2019, Published under Cement News

YTL Corp Bhd released disappointing results for the 9MFY19 for its cement division. Cement revenue was down by four per cent YoY, but earnings were up 96 per cent YoY. The Malaysian company reported lower a sales volume impacting its top line. YTL Cement's margins improved significantly given the higher selling price and lower operating expenditure. The recent 51 per cent acquisition of Lafarge Malaysia will reflect a small loss in contributions in 4QFY19. The acquisition is expected to im...

Lafarge Malaysia reduces net loss in 1Q19

30 May 2019, Published under Cement News

Lafarge Malaysia successfully reduced its net loss to MYR32.07m (US$7.64m) in the 1Q19, compared with MYR68.73m of the year-ago period. However, revenue saw a minor 1.5 per cent YoY fall to MYR538.7m from MYR546.8m, with the decrease attributed to lower cement sales caused by market conditions. The company noted that key infrastructure projects will help reduce the domestic cement industry’s overcapacity, but market conditions are expected to remain challenging. "There is still healthy ...

Hong Leong Asia looks to complete Tasek Corp takeover

29 May 2019, Published under Cement News

Singapore-listed Hong Leong Asia is looking to take Malaysia’s Tasek Corp private in a deal worth an estimated MYR128.61m (US$30.6m), according to The Edge. The company currently controls 80.8 per cent of Tasek through two subsidiaries, HL Cement (Malaysia) and Ridge Star, and has submitted a voluntary takeover offer to acquire the remaining shares.  Together, the subsidiaries hold 97.89m ordinary shares in Tasek, with the takeover involving the remaining 19.2 per cent of ordinary shares ...

YTL executives appointed to Lafarge Malaysia board while CEO resigns

20 May 2019, Published under Cement News

Yeoh Khoon Cheng has resigned as CEO of Lafarge Malaysia although he will stay on as the group’s executive director. In addition, Lafarge Malaysia Vice Chairman, Martin Kriegner, and non-independent and non-executive directors John William Stull and Datuk Tan Pei Ling have also resigned. In a separate move, several YTL Corp Bhd executives have been appointed to the company’s board. YTL Corp Executive Chairman, Tan Sri Dr Francis Yeoh, and Managing Director, Datuk Yeoh Seok Kian, have bee...

Cahya Mata Sarawak reports 5% rise in net profit

15 May 2019, Published under Cement News

Malaysia's Cahya Mata Sarawak Bhd (CMS) has announced a five per cent YoY increase in net profit to MYR40.76m (US$9.76m) from MYR38.98m for the first quarter of 2019, with the rise attributed to a stronger performance across its core businesses. Quarterly revenue advanced 17.8 per cent to MYR418.8m, compared to MYR354.99m in the year-ago period. The company’s cement division reported a 67 per cent higher profit before tax in the quarter due to higher sales and lower clinker production cost...