Cement News tagged under: Malaysia

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Yeoh Khoon Chen redesignated as Lafarge Malaysia CEO

14 March 2019, Published under Cement News

Lafarge Malaysia’s CFO Yeoh Khoon Cheng has been redesignated as the company’s CEO with immediate effect. On 16 November last year he was appointed interim CEO. He is a member of the Malaysian Institute of Certified Public Accountants and joined Lafarge in 1987 as a finance manager. Since then, he has held various positions in the group’s business development, mergers and acquisitions and corporate finance. In January 2016, he was appointed CFO in Huaxin Cement Ltd – post which he held unt...

Lafarge Malaysia to benefit if East Coast Rail Link is revived

08 March 2019, Published under Cement News

Lafarge Malaysia Bhd is in a great position to benefit from a resumption of the East Coast Rail Link's (ECRL), because the cement manufacturer has won contracts under the project, says Affin Hwang Investment Bank Bhd. Lafarge Malaysia's shares rose 30 per cent yesterday on the news that the rail project might be revived, having been suspended in July 2018. "We understand that the government will likely decide after Prime Minister Tun Dr Mahathir Mohamad's visit to China in April. If the p...

CTP Team wins Malaysian ESP to baghouse conversion project

13 December 2018, Published under Cement News

Italy-based CTP Team has been awarded a turnkey project for air pollution control in Malaysia for the conversion of an existing PL1 raw mill electrostatic precipitator (ESP) into a fabric filter as well as the upgrade of an existing exhaust fan. CTP Team has signed a turnkey contract with YTL Cement, for the conversion to bag filter of an ESP of Perak-Hanjoong Simen's cement plant in Pedang Rengas, Malaysia. The project consists of a full turnkey solution for the conversion into a more effi...

YTL Corp records 11.3% net profit decline

26 November 2018, Published under Cement News

Malaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected to achieve satisfactory performance for FY19," stated the company. Company revenue in the first qu...

Lafarge Malaysia records 3Q18 net loss of MYR109m

21 November 2018, Published under Cement News

Lafarge Malaysia recorded a net loss in 3Q18 of MYR109.28m (US$26m) down 160 per cent from MYR42.01m in 3Q17. Revenue fell by 14 per cent YoY to MYR495.1m in 3Q18. The decline in earnings was down to lower cement sale and higher operating expenditure. Higher energy prices, as well as the lower production output and timing of the scheduled plant maintenance put pressure on costs. "The decrease was due to the soft market demand and continuing domestic pricing pressures," said Lafarge Malay...

Mario Gross steps down as CEO of Lafarge Malaysia

20 November 2018, Published under Cement News

Mario Gross of Lafarge Malaysia stepped down from his role as president and CEO of the company on Friday, after seven months in the position. Mr Gross has been assigned to a new role in the LafargeHolcim group but will also continue as a non-independent non-executive director from 16 November to 31 December this year to facilitate the transition. "During his tenure here, Gross laid the groundwork for the business turnaround plan, putting in place an experienced leadership team and strengt...

Tasek posts 3Q net loss

22 October 2018, Published under Cement News

Malaysia’s Tasek Corp Bhd posted a net loss of MYR5.99m (US$1.44m) in 3Q18 on the back of intense pricing competition as domestic cement demand fell. In 3Q17 the company reported a net profit of MYR1.89m. Rising production costs in its cement and ready-mix concrete businesses and lower interest income further affected the group’s business results. Revenue in the third quarter edged up from MYR146.55m in 3Q17 to MYR149.88m in 3Q18. Looking ahead, Malaysian cement demand is expected to rema...

Lafarge Malaysia invests MYR80m to boost efficiency

29 August 2018, Published under Cement News

Lafarge Malaysia Bhd has allocated MYR80m (US$19.48m) to optimise its operational efficiency, which includes the installation of bag filters at all three of its integrated plants in the country. At the installation of the filter at the company’s Kanthan facility, Mario Gross, CEO, noted that it is replacing the current ESP system as a more efficient alternative. "It also captures dust particles, releasing only filtered air into the environment. The bag filter is cleaned at pre-programmed...

Lafarge Malaysia MYR270m ECRL contract suspended

13 July 2018, Published under Cement News

Lafarge Malaysia Bhd MYR270m (US$66.7m) contract to supply cement to the East Coast Rail Link (ECRL) project has been suspended. The cement producer said that China Communications Constructions (ECRL) Sdn Bhd (CCC), the main contractor to the project, has suspended the contract as the government is currently reviewing the project. LafargeHolcim’s wholly-owned subsidiary had signed an agreement with CCC to supply cement to all eight work packages for the rail link. The contract was due...

Cahya Mata Sarawak defends its cement pricing

06 July 2018, Published under Cement News

In response to a motion moved by Pujut Assembly man Ting Tiong Choon, Cahya Mata Sarawak Bhd (CMS) says that it is incorrect to say the company has a monopoly over the production and sale of cement in Sarawak, Malaysia. CMS stated that contrary to the assertion made by Ting that since June 2016, one bag of 50kg cement is sold at MYR21.50 (US$5.32) in Sarawak, but at MYR17.30 (US$4.28) in Sabah, the true figure quoted by the Malaysian Department of Statistics is MYR20.37 for a 50kg bag of...