Cement News tagged under: South Asia
Sarawak considers importing cement from Thailand23 December 2022, Published under Cement NewsThe Borneo-based Sarawak Economic Development Corp (SEDC) and the Bintulu Development Authority (BDA) are planning to create a joint venture to import cement from Thailand to address the supply shortage in the state of Sarawak. According to the Borneo Post Online, imports could total 0.5-1Mt from 2023. SEDC and BDA visited Siam Cement Group (SCG) in Bangkok recently to discuss the proposal. Due to the shortage of cement in Sarawak, cement prices in the state are 15 per cent higher tha... |
Philippines imposes duties on Vietnam cement imports22 December 2022, Published under Cement NewsThe Philippines’ Department of Trade and Industry (DTI) has imposed duties on cement imports from Vietnam for five years. In a department order dated 16 December 2022, Trade Secretary Alfredo E Pascual said dumping of ordinary Portland cement Type 1 and blended cement Type 1P from Vietnam in the country poses an "imminent threat of material injury to the domestic cement industry". The move comes after the DTI reviewed the final report of the Tariff Commission (TC) regarding its invest... |
Siam Cement Group enters JV for new ACC plant09 December 2022, Published under Cement NewsThailand-based Siam Cement Group (SCG) has entered into a joint venture (JV) with India’s BigBloc Construction (BCL) to build a greenfield plant to manufacture aerated autoclaved concrete (AAC) blocks and AAC panels. The JV, known as Siam Cement BigBloc Construction Technologies, is 52 per cent controlled by BCL and 48 per cent controlled by SCG. The new works marks an investment of INR650m (US$7.9m), according to Financial Express, and will be located in the Kheda district, near Ahmed... |
Thailand looks to Philippines for exports07 December 2022, Published under Cement NewsThe Philippines government has decided not to extend a tax on imports of cement. The levy on imported cement was first introduced on 22 October 2019 for three years. In the first year the tax was PHP250/t (US$4.5/t), which then fell to PHP245/t in the second year and PHP200/t in the third year. With the tax due to expire on 21 October 2022, the Philippine Tariff Commission began an enquiry in February this year as to whether the tax should be extended or not. According to rules set out by... |
INSEE Vietnam begins construction on new mill05 December 2022, Published under Cement NewsINSEE Vietnam , a subsidiary of Thailand’s Siam City Cement Public Company Ltd (SCCC), has begun construction of its Thi Vai grinding mill No2. The new mill, which marks an investment of over US$35m, will help meet rising cement demand in the Southeast region, according to Vietnam News. |
Eagle Cement delists from Philippine Stock Exchange01 December 2022, Published under Cement NewsEagle Cement Corporation has gained the approval of its shareholders to delist from the Philippine Stock Exchange (PSE). According to the company, not one shareholder voted against the proposal. “Therefore, as stated in the Definitive Information Statement distributed in relation to such request for stockholders’ approval via written assent, the voluntary delisting of the corporation from the PSE has been approved by the stockholders as of the date hereof,” Eagle Cement said in a state... |
Malayan Cement reports 98% rise in revenue25 November 2022, Published under Cement NewsMalayan Cement Berhad , part of YTL Cement Berhad , has reported revenue of MYR2.71bn (US$605.6m) in FY2022, up 98 per cent on the previous year. Net income has come in at MYR83.5m, compared to MYR76.2m in FY2021. Profit margin over the same period has advanced from 0.5 per cent to 3.1 per cent, driven by the higher revenue. Earnings per share improved from MYR0.009 in FY2021 to MYR0.068 in FY2022. According to Simply Wall St, while earnings per share exceeded analyst expectations by 3... |
Vicem signs agreement to export 6Mt to the Philippines25 November 2022, Published under Cement NewsVietnam Cement Industry Corp (Vicem) has signed an agreement with Fenix (CEZA) International Inc and Gold Falcon Trading Corporation to export 6Mt of cement and clinker to the Philippines in 2023-25, reports Vietnam News Brief Service. Vicem currently operates 10 cement plants with a total production capacity of over 25Mta of cement and 21Mta of clinker. Its sales reportedly account for almost 33 per cent of Vietnam’s total cement and clinker sales and 23 per cent of its exports. Eac... |
Holcim Philippines posts loss as expenses rise14 November 2022, Published under Cement NewsHolcim Philippines has reported a 6.93 per cent increase in total revenue to PHP6.94bn (US$121.17m) in the third quarter of 2022, up from PHP6.49bn in the same period a year earlier. Despite this, the company posted a net loss of PHP173.28m in the 3Q22, down from a profit of PHP669.26m in the 3Q21. According to the company, this was due to higher expenses with its gross expense increasing by 13.3 per cent from PHP5.62bn to PHP6.37bn over the same period. Revenue for the opening nine mon... |
Siam Cement sees sales advance 8% in 3Q2228 October 2022, Published under Cement NewsThailand-based Siam Cement Group (SCG) has reported sales of THB142,391m (US$3774m) in the third quarter of 2022, up eight per cent from THB131,825m in the same period a year earlier. According to the company, the increase has been driven by higher product prices. Net income over the same timeframe fell from THB6817m to THB2443m, while basic earnings per share from continuing operations declined from THB5.68 to THB2.04. In the opening nine months of 2022, sales came in at THB447,419m, ... |