Cement News tagged under: YTL Cement

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Malayan Cement shareholders approve RPTs with YTL Cement

24 January 2020, Published under Cement News

Malayan Cement, formerly Lafarge Malaysia, has obtained minority shareholder approval for MYR1.87bn (US$460m) worth of related-party transactions (RPTs) with its new controlling shareholder, YTL Cement, according to The Edge. The shareholders had previously voted down plans for MYR3.51bn worth of RPTs with YTL Cement last September. The new mandate will reportedly allow Malayan Cement to deal with YTL Cement on the sale and purchase of materials such as clinker, cement, aggregates, san...

WCA welcomes YTL Cement as a corporate member

17 October 2019, Published under Cement News

YTL Cement of Malaysiahas joined the World Cement Association (WCA) as a corporate member. The WCA now has a network of 75 members representing 34 countries. YTL Cement has a state-of-the-art 1Mta plant on the east coast of the Malaysian peninsular with additional overseas operations with Jurong Cement in Singapore and Zhejiang Lin'an Jin Yuan Cement Co Ltd in China.

Lafarge Malaysia shareholders vote down RPTs with YTL Cement

24 September 2019, Published under Cement News

Minority shareholders of Lafarge Malaysia have voted down a plan to enter into recurrent related party transactions (RPTs) with YTL Cement, estimated to be worth about MYR3.5bn (US$837.92m). The proposal was rejected by 76 per cent of the shareholders, according to a bourse filing. The RPTs would have allowed Lafarge to deal with YTL on the sale and purchase of clinker, cement and pulverised ash, and also fees for services and rental of properties in Johor and Singapore.

LafargeHolcim

04 June 2019, Published under Cement News

LafargeHolcim has agreed the sale of its 51 per cent-owned subsidiary Lafarge Malaysia to YTLCement Berhad for US$396m, a 43 per cent premium to the latest share price before the deal was announced. The sale includes the 91 per cent-owned subsidiary Holcim Singapore Pte Ltd. Lafarge Malaysia operates three integrated cement works and two grinding centres. Completion of the deal was achieved on 17 May 2019. In the first quarter Lafarge Malaysia lost MYR32.07m (US$7.64m), compared with a loss ...

YTL Corp sees cement revenue fall 4% in 9MFY19

04 June 2019, Published under Cement News

YTL Corp Bhd released disappointing results for the 9MFY19 for its cement division. Cement revenue was down by four per cent YoY, but earnings were up 96 per cent YoY. The Malaysian company reported lower a sales volume impacting its top line. YTL Cement's margins improved significantly given the higher selling price and lower operating expenditure. The recent 51 per cent acquisition of Lafarge Malaysia will reflect a small loss in contributions in 4QFY19. The acquisition is expected to im...

Lafarge Malaysia announces new managing director

31 May 2019, Published under Cement News

Lafarge Malaysia has announced the appointment of Michael Yeoh Sock Siong as managing director of the company effective from 31 May. The company stated that he has been repositioned from the previously-announced role of executive director to MD. Members of the Yeoh family, which controls the YTL group, joined the Lafarge Malaysia board two weeks ago after its acquisition by YTL Cement.

Lafarge Malaysia reduces net loss in 1Q19

30 May 2019, Published under Cement News

Lafarge Malaysia successfully reduced its net loss to MYR32.07m (US$7.64m) in the 1Q19, compared with MYR68.73m of the year-ago period. However, revenue saw a minor 1.5 per cent YoY fall to MYR538.7m from MYR546.8m, with the decrease attributed to lower cement sales caused by market conditions. The company noted that key infrastructure projects will help reduce the domestic cement industry’s overcapacity, but market conditions are expected to remain challenging. "There is still healthy ...

YTL executives appointed to Lafarge Malaysia board while CEO resigns

20 May 2019, Published under Cement News

Yeoh Khoon Cheng has resigned as CEO of Lafarge Malaysia although he will stay on as the group’s executive director. In addition, Lafarge Malaysia Vice Chairman, Martin Kriegner, and non-independent and non-executive directors John William Stull and Datuk Tan Pei Ling have also resigned. In a separate move, several YTL Corp Bhd executives have been appointed to the company’s board. YTL Corp Executive Chairman, Tan Sri Dr Francis Yeoh, and Managing Director, Datuk Yeoh Seok Kian, have bee...

CTP Team wins Malaysian ESP to baghouse conversion project

13 December 2018, Published under Cement News

Italy-based CTP Team has been awarded a turnkey project for air pollution control in Malaysia for the conversion of an existing PL1 raw mill electrostatic precipitator (ESP) into a fabric filter as well as the upgrade of an existing exhaust fan. CTP Team has signed a turnkey contract with YTL Cement, for the conversion to bag filter of an ESP of Perak-Hanjoong Simen's cement plant in Pedang Rengas, Malaysia. The project consists of a full turnkey solution for the conversion into a more effi...

YTL Corp records 11.3% net profit decline

26 November 2018, Published under Cement News

Malaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected to achieve satisfactory performance for FY19," stated the company. Company revenue in the first qu...