Cement News tagged under: South Asia
Eagle Cement Corp net profit falls 25% in 1Q2015 May 2020, Published under Cement NewsThe Philippines' Eagle Cement Corp saw a 25 per cent YoY fall in first quarter net profit to PHP1.2bn (US$23.6m) as construction activities were halted in mid-March as part of measures to curb the coronavirus pandemic. Eagle’s net sales contracted by 16 per cent YoY to PHP4.5bn in the first three months. Cash flow fell by 14 per cent to PHP1.7bn. Prior to the enhanced community quarantine (ECQ) in mid-March, Eagle reported growth in sales volume during the quarter. Paul Ang, Eagle Cement C... |
Asia Cement Corp sees 32% decline in revenue15 May 2020, Published under Cement NewsTaiwan’s Asia Cement Corp has posted a 32.2 per cent decline in revenue to TWD13.14bn (US$439.2m) in the first quarter of 2020, compared with TWD19.39bn in the year-ago period. Net profit also fell 74.6 per cent YoY to TWD743.77m from TWD2.93bn in the 1Q19. |
Hsing Ta Cement sees 14% decline in revenue15 May 2020, Published under Cement NewsTaiwan’s Hsing Ta Cement has seen a 14.3 per cent decline in revenue to TWD1.16bn (US$38.96m) for the January-March 2020 period, against TWD1.36bn in the 1Q19. The company’s net profit was also down 28.7 per cent to TWD91.34m from TWD128.05m. |
Siam Cement Plc cement sales down 4% in 1Q2014 May 2020, Published under Cement NewsThailand's Siam Cement Plc reported profits of THB6971m (US$217.1m), down two per cent QoQ and EBITDA slipped to THB15,424m down 126 per cent. Revenue from sales was steady at THB105,741m, with increased revenues from cement-building materials and the packaging business offsetting decreases from the chemicals division. First-quarter revenue from sales in the cement-building materials business registered THB46,245m, decreasing four per cent YoY, due to lower sales in domestic market. However... |
Semen Indonesia Group sales edge up in April14 May 2020, Published under Cement NewsSemen Indonesia Group (SIG) reported total sales in April 2020 of 3,060,256t, up 0.5 per cent when compared with April 2019, when the group achieved sales of 3,046,007t. Semen Indonesia (including SBI) saw sales advance in April 2020 by 0.7 per cent YoY to 2,860,091t from 2,841,406t. While domestic offtake slipped by 3.9 per cent from 2,516,121t in April 2019 to 2,419,221t one year later, export sales surged by 35.5 per cent YoY to 440,869t (April 2019: 325,285t). Thang Long Cement Co ... |
Indonesian clinker exports up but cement exports contract14 May 2020, Published under Cement NewsIndonesian cement producers have seen a 4.7 per cent uptick in clinker exports to 568,819t in April 2020 when compared with clinker export sales of 543,441t reported in April 2019, according to the country’s cement association, ASI. However, cement exports plummeted to 19,300t in April 2020, representing an 83.2 per cent drop when compared with April 2019, when 115,052t of cement was exported from Indonesia. As a result, total cement and clinker exports in April 2020 were down by 10.7 ... |
Hong Leong Asia makes takeover offer for Tasek Corp13 May 2020, Published under Cement NewsHong Leong Asia, which currently holds an 88.16 per cent stake in Malaysia’s Tasek Corp through two subsidiaries, has reportedly launched an unconditional voluntary takeover offer to acquire the remaining shares for around MYR83.9m (US$19.35m). The company, via its HL Cement and Ridge Star subsidiaries, had sought to take Tasek private last year, according to The Business Times Singapore. Tasek moved from a net loss last year to an MYR4.19m profit in its 1Q20 results reported last wee... |
Vietnam's cement exports to China drop 5% in 1Q2012 May 2020, Published under Cement NewsChina was the largest market for Vietnamese cement imports in the first quarter of 2020, importing 2.73Mt worth US$96.92m, according to the latest data from the General Department of Vietnam Customs. This was down 5.4 per cent and 13.3 per cent YoY in volume and value, respectively, but still accounted for 35.3 per cent of Vietnam’s export volumes during the quarter. The Philippines imported 1.47Mt worth US$69.09m in the 1Q20, declining 27.5 per cent YoY in volume and 32.3 per cent in val... |
No new cement projects expected in Vietnam this year11 May 2020, Published under Cement NewsVietnam’s cement industry is not expected to see the construction of any new production lines this year, according to Nguyen Quang Cung, chairman of the Vietnam Cement Association (VNCA). Mr Cung noted that the industry is now facing oversupply, creating a challenging environment for cement firms to invest in new factories. The chairman also stated that the Thanh Son project in Thanh Hoa is yet to finish following a decade of construction. However, as previously announced, two additional ... |
San Miguel Corp sale transaction lapses11 May 2020, Published under Cement NewsIn May 2019 LafargeHolcim signed an agreement with San Miguel Corp for the sale of its entire 85.7 per cent shareholding in Holcim Philippines Inc, subject approvals, including those required by the Philippines Competition Authority (PCC). The PCC did not issue an approval of the transaction within the required time period and consequently the agreement lapsed. With today's unprecedented COVID-19 crisis, Holcim Philippines' number-one priority is to protect the health of its people while... |