Malayan Cement shareholders approve RPTs with YTL Cement

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, sand and concrete products.