Cement News tagged under: Malaysia

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LafargeHolcim

03 January 2018, Published under Cement News

The 39.9 per cent-owned LafargeHolcim associate Huaxin Cement is investing in a US$140Mta cement works that it is building in Nepal.  Lafarge Malaysia’s turnover came down by some 13 per cent to US$409.5m in the first nine months of 2017, while a net loss of US$33.1m was incurred, compared with a US$10.5m profit for the same period last year. The company lost money in each of the quarters of this year and a return to profit is not expected until the middle of next year. LafargeHolcim A...

Richard Curtis retires as CMS Group MD

02 January 2018, Published under Cement News

Richard Curtis has retired from his position as Group Managing Director of Malaysian cement producer, Cahya Mata Sarawak Bhd (CMS) as of 1 January 2018. He will remain on the Board of CMS as non-independent non-executive director. Y A M Tan Sri Dato' Seri Syed Anwar Jamalullail, CMSB’s Group Chairman, said: "On behalf of everyone at CMS, I would like to thank Dato' Richard for his stewardship and commitment to the company for over 11 years. Dato' Richard’s legacy will be his pioneering lead...

Are better times ahead for Lafarge Malaysia Cement?

15 December 2017, Published under Cement News

ICR highlighted the plight of Lafarge Malaysia this week as the company reported a 3Q17 loss of US$10.3m with expectations of no return to profit until FY18 . However, the LafargeHolcim-owned subsidiary was not the only producer to face challenging times. Tasek Corp Bhd reported a 75 per cent YoY fall in 3Q net profit to MYR1.89m from MYR7.56m in 3Q16. Quarterly revenues decreased 1.7 per cent YoY to MYR146.55m. Meanwhile, Cahya Mata Sarawak Bhd (CMS) also reported lower 3Q revenues, which ...

Lafarge Malaysia Bhd expected to return to profitability in FY18

11 December 2017, Published under Cement News

Excess supply and price pressure due to escalating competition have negatively impacted Lafarge Malaysia Bhd’s earnings in the current financial year. The company has posted three consecutive quarterly losses, with the 3Q17 resulting in a loss of MYR42m (US$10.3m) according to The Star. In the first nine months of 2017 ended 30 September, Lafarge Malaysia reported a net loss of MYR135m, a decline from the MYR42.7m net profit of the year-ago period. Revenue also dropped 13 per cent YoY to ...

CMS sees 3Q profit rise

30 November 2017, Published under Cement News

Malaysia's Cahya Mata Sarawak Bhd (CMS) reported 3Q17 consolidated revenues of MYR347.968m (US$85.12m), down 2.3 per cent from MYR356.06m in 3Q16. Profit before tax edged up from MYR94.744m in 3Q16 to MYR95.58m one year later while profit attributable to ordinary equity holders of the parent company rose 5.7 per cent YoY from MYR58.715m to MYR62.04m. The group attributed the improvement in profit to lower production costs in the cement division. In its outlook, CMS expected the operat...

Tasek sees fall in net profit for 3Q17

08 November 2017, Published under Cement News

Malaysia-based Tasek Corp Bhd posted a 3Q net profit of MYR1.89m (US$447,190) a fall from MYR7.56m in the corresponding period of the previous year, according to The Star Online. The company has a total net profit of MYR6.93m so far this year, a considerable decrease from MYR48.2m of 9M16. The decline in profits has been attributed to a reduced demand for cement.

YTL Corp founder dies

19 October 2017, Published under Cement News

Yeoh Tiong Lay, the founder of and execuitive chairman of group YTL Corp, passed away on Wednesday, the group said in a news release. He was 88 years old. Mr Yeoh founded what was originally a construction company in 1955 and undertook civil works while the country was under British colonial rule before participating in development projects after independence in 1957. He assumed the role of executive chairman in 1985, allowing Francis and his six other children to run the group's day-...

LafargeHolcim

11 September 2017, Published under Cement News

LafargeHolcim’s subsidiary Lafarge Malaysia has reported a first-half turnover decline of 18 per cent to MYR1090m (EUR214m/US$259.7m) and there was a net loss of MYR92.02m (EUR18.27m) compared with a MYR39.01m profit at this stage last year. According to the company, the deterioration in the result reflects a lower revenue contribution from the cement segment, higher charges for depreciation, fuel and electricity LafargeHolcim’s subsidiary Bamburi Cement in Kenya has announced a 1H turnov...

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 ...