Cement News tagged under: Malaysia

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CIMB Equities Research encouraged by Lafarge Malaysia's 2Q17 performance

11 September 2017, Published under Cement News

CIMB 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 loss

30 August 2017, Published under Cement News

Lafarge 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 profit

29 August 2017, Published under Cement News

Cahya 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 division

17 August 2017, Published under Cement News

FY17 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 project

04 July 2017, Published under Cement News

Cahya 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 Malaysia

23 May 2017, Published under Cement News

In 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 News

Vietnam 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 expenses

18 May 2017, Published under Cement News

For 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...

CMS to benefit from Pan Borneo Highway construction

25 April 2017, Published under Cement News

Construction of the Pan Borneo Highway in Malaysia is expected to boost demand for construction materials including an additional million tonnes of cement. Cahya Mata Sarawak Bhd (CMS), which is the sole cement producer in the country’s largest state, will be the main beneficiary of the mega highway project. "It is estimated that the project would need up to a million tonnes of cement over the course of the construction of the Pan Borneo Highway [in Sarawak], said Richard Curtis, manag...

Vietnam 1Q exports rise 11% YoY

18 April 2017, Published under Cement News

Vietnam exported 4.82Mt of cement and clinker worth US$168.65m in the first quarter of this year, representing 11 per cent increase YoY in volume and 6.4 per cent in value, according to the latest data of the General Department of Vietnam Customs. In March the country’s clinker and cement exports rose 7.8 per cent from February in volume and 7.6 per cent in value to 1.8Mt worth US$62.67m, the Xay Dung online newspaper quoted the government department as saying. Bangladesh remained the ...