Cement News tagged under: south Asia

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Siam Cement Group enters JV for new ACC plant

09 December 2022, Published under Cement News

Thailand-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 exports

07 December 2022, Published under Cement News

The 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 mill

05 December 2022, Published under Cement News

INSEE 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 Exchange

01 December 2022, Published under Cement News

Eagle 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 revenue

25 November 2022, Published under Cement News

Malayan 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 Philippines

25 November 2022, Published under Cement News

Vietnam 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 rise

14 November 2022, Published under Cement News

Holcim 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 3Q22

28 October 2022, Published under Cement News

Thailand-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, ...

Philippines producers lose appeal to extend import duty

18 October 2022, Published under Cement News

The Tariff Commission (TC) in the Philippines has declined an appeal by local cement producers to extend the customs duty on imported cement. According to the Manila Bulletin, the three-year customs duty designed to safeguard the local industry from imports is due to expire in October 2022. Although the Cement Manufacturers Association of the Philippines (CeMAP) lodged a request with the TC to extend the tariff, the request was denied as the TC found that there was “no imminent threat” from ...

APO Cement suspends Davao terminal

05 October 2022, Published under Cement News

APO Cement Corporation , part of Cemex Holdings Philippines Inc , has temporarily suspended operations at its Davao terminal in the Philippines due to the constant influx of cement imports, reports Manila Bulletin. The continued arrival of imports, particularly from Vietnam, has led to rising costs and falling volumes, according to APO. “Our operational costs in maintaining the Davao terminal have increased and continue to increase, while our volumes are decreasing due to the unabated en...