Cement News tagged under: Philippines
Philippines: Human rights body begins investigation into GHG-emitting firms29 July 2016, Published under Cement NewsThe Commission on Human Rights of the Philippines (CHR) has begun an investigation into the possibility that major carbon-emitting multinationals have breached human rights law, The Guardian reports. This follows a petition from a group of environmental NGOs led by Greenpeace, which identified 47 Carbon Majors - publicly-traded companies that collectively are responsible for 21.6 per cent of greenhouse gas emissions in the period from 1751 to 2013. The companies involved include major cem... |
Philippines: consumers complain over quality and prices28 July 2016, Published under Cement NewsThe National Consumer Affairs Council (NCAC) has called on the Department for Trade and Industry (DTI) to take action on complaints about substandard cement entering the market, the Philippine Daily Inquirer reports. Chair of the NCAC, Jose Pepito, said: “This complaint has been there for a long time, so I’m wondering why nothing has been done about it,” he said in an interview with the Inquirer. “Many consumers may not be aware of the problem because they are not technically knowledgeabl... |
Philippines: Cemex achieves Energy Management ISO07 July 2016, Published under Cement NewsCemex Holdings Philippines’ subsidiaries, Solid Cement Corporation and Apo Cement Corporation, recently passed the ISO 50001:2011 Energy Management System (EnMS) audits , making them the first cement plants in the country to receive an SGS Philippines endorsement for the EnMS certification. The implementation of an EnMS represents Cemex’s proactive stance and commitment in achieving sustainable operations through energy optimisation and in contributing positively to mitigate the impact of... |
Cemex04 July 2016, Published under Cement NewsCemex is to float a 45 per cent minority in Cemex Holdings Philippines on the Philippine Stock Exchange during July. The group is expecting to raise around US$507m. The proceeds will be used to reduce net debt. |
Philippines: settlement following cargo vessel crash22 June 2016, Published under Cement NewsThe Cebu provincial government and other entities, which suffered damage following the cargo vessel MV Belle Rose running aground in the waters off Daanbantayan town last week, have agreed to settle and allow the ship to leave Cebu for repairs. The agreement reached with the shipping company covers the cost of replanting affected corals, rehabilitation, protection and management of the shoal, incidental damages sustained by those reliant on Monad Shoal such as tourism-based establishments... |
Philippines: Cemex Holdings Philippines IPO will raise US$526m20 June 2016, Published under Cement NewsCemex Holdings Philippines (CHP), a subsidiary of Cemex, will on Tuesday launch an initial public offering to raise up to US$526m, reports Reuters. The offering would mark the Southeast Asian nation's second and biggest IPO so far this yea r. Cemex Holdings Philippines has secured US$125m from seven cornerstone investors for the IPO, IFR said. Cemex aims to invest US$300m to open additional capacity in the Philippines in 2019. “The new capacity will become operational by the second hal... |
SE Asia towards oversupply?20 June 2016, Published under Cement NewsThe southeast Asian cement market has seen rapid demand growth in recent years. Backed by favourable macroeconomic trends, it is likely to remain one of the fastest-growing cement markets. Many cement producers, both local and international, performed very well in this region and are keen to expand their existing capacity, while for others entering these enticing markets has become a priority. By The Jakarta Advisory Group, Indonesia. Fast-growing southeast Asian markets are attractin... |
Philippines: CeMAP claims cement smuggling on rise16 June 2016, Published under Cement NewsThe Cement Manufacturers Association of the Philippines (CeMAP) has estimated that 75 per cent of the 161,000t of cement imported into the country in the first quarter of this year was technically smuggled, the Standard reports. CeMAP’s president, Ernesto Ordoñez, claims that importers have been consistently understating the value of their cargoes to avoid taxes. Mr Ordoñez told a press conference: “If freight undervaluation goes unidentified and unpunished, this may lead not only to more... |
Cemex Holdings Philippines set for record IPO03 June 2016, Published under Cement NewsCemex Holdings Philippines Inc has obtained regulatory approval to launch an initial public offering (IPO) worth PHP39.74bn (US$854.3m), which could be the largest stock market debut in the country. Cemex intends to use proceeds for repayment of up to US$504m of short-term loan from a related party. The debt was incurred in connection with the acquisition of operating subsidiaries—Apo Cement Corp and Solid Cement Corp —as part of a reorganisation. The Securities and Exchange Commi... |
Philippines: Holcim Q1 revenues up 17.2%31 May 2016, Published under Cement NewsHolcim Philippines have released trading figures for 1Q2016, revealing that revenues have increased 17.2 per cent YoY to PHP10.1bn (US$216m), reports InPR. The company attributed its good performance to higher private spending and to increased government infrastructure investment, of which PHP760bn (US$16.25bn) of funding has been allocated. Holcim Philippines quarterly results showed operating EBITDA rising by 5.3 per cent to PHP2.5bn (US$53m). Holcim Philippines President and Country... |