Cement News tagged under: Malaysia
Malayan Cement reports 156% increase in pretax profit31 October 2024, Published under Cement NewsMalayan Cement Bhd , majority-owned by YTL Cement Bhd , has reported notable financial results for FY23-24 (ending 30 June 2024). The Malaysian building materials group posted a revenue of MYR4.45bn (US$1.02bn), representing an 18 per cent YoY growth from MYR3.76bn in the previous year. This rise was primarily driven by stabilised domestic cement prices and operational efficiencies across its business segments. Profit before tax surged to MYR647.5m, marking a significant 156 per cent incre... |
YTL Cement Singapore completes NSL acquisition24 October 2024, Published under Cement NewsYTL Cement Singapore Pte Ltd has finalised its acquisition of NSL Ltd, a Singapore-based investment holding company that supplies building materials, from 98 Holdings Pte Ltd. The company acquired an 81.24 per cent stake for a total cash consideration of SGD227.613m (US$169.1m). The deal provides a unique opportunity for YTL Corp Group’s expansion via YTL Cement and its subsidiaries into the international business sectors in Malaysia, Dubai, Finland and Singapore, according to Market Line.... |
Mitsubishi UBE Cement Corp to collaborate with Malaysia on CCS project17 October 2024, Published under Cement NewsMitsubishi UBE Cement Corp (MUCC) – in collaboration with The Kansai Electric Power Co Inc, Kyushu Electric Power Co Inc, Cosmo Oil Co Ltd, The Chugoku Electric Power Co Inc, Electric Power Development Co Ltd Mitsui & Co Ltd and Resonac Corp – was commissioned by the Japan Organization for Metals and Energy Security (JOGMEC) to conduct a survey of the Carbon Capture and Storage (CCS) Project for the Southern Offshore Malay Peninsula in FY24 under the terms of the "Engineering Design Work f... |
Cahya Mata Sarawak Bhd sees 27% growth in 2Q net profit29 August 2024, Published under Cement NewsCahya Mata Sarawak Bhd , a Malaysia-based cement manufacturer has released its 2Q24 earnings, for the period ended 30 June 2024. The group’s revenue fell four per cent YoY to MYR277.99m (US$64.3m), primarily due to lower sales from from its cement and property development divisions of MYR15.51m. The group’s net profit rose 27 per cent YoY, from MYR26.3m to MYR33.4m, with earnings per share of MYR0.003. The growth in net profit was supported by improved gross profit from the company... |
Malayan Cement boosts YTL Corp's FY24 results28 August 2024, Published under Cement NewsYTL Cop Bhd posted a net profit slipped to MYR534.48m in the fourth quarter ended 30 June 2024 (4Q24) compared with MYR548.03m in the previous corresponding period, while revenue in 4Q24 dipped to MYR8.27bn from MYR9.21bn a year earlier. In a statement, executive chairman Tan Sri Francis Yeoh Sock Ping said the strong set of results was contributed by all business segments across the board, anchored by the utilities and cement divisions, with the construction, property, hotels and managemen... |
YTL Cement to acquire NSL24 July 2024, Published under Cement NewsMalaysian cement producer, YTL Cement, has agreed to acquire Singapore-based NSL for MYR792m (US$169.5m). According to Business Today, NSL is principally involved in the provision of management services and investment holding while its subsidiaries produce and sell building materials, oil and petroleum-related products, and supply environmental services. It is one of the leading producers of precast concrete components in Malaysia and Dubai. The deal will give YTL Cement an 81.24 per c... |
Hume Cement doubles profits17 May 2024, Published under Cement NewsMalaysia’s Hume Cement Industries has reported net profit of MYR61.06m (US$13.04m) in the third quarter of the current financial year, ended 31 March 2024. This has more than doubled compared to the same period a year earlier. Revenue over the same time frame advanced from MYR289m to MYR310.4m. According to the company, the increase in revenue and profit was due to lower manufacturing costs, coupled with a higher cement average selling price and higher sales volumes. For the first nin... |
Cementir's 1Q24 regional market update13 May 2024, Published under Cement NewsCementir's results for the 1Q24 were overall in line with management's expectations despite the decline in revenues and EBITDA compared to the first quarter of the previous year. The company reported regional growth in Turkish cement sales and Belgian ready-mix sales. Turkey Cement sales volumes increased by 22 per cent compared to the 1Q23 in the domestic market, where the most significant growth was recorded in the Elazig and Kars regions of Eastern Anatolia, supported by post-earthq... |
Heidelberg Materials acquires Malaysia's largest pulverised fly ash supplier03 May 2024, Published under Cement NewsHeidelberg Materials has entered into a definitive purchase agreement to acquire ACE Group,the largest supplier of pulverised fly ash in Malaysia, effective 1 May 2024. The acquisition strengthens circularity within Heidelberg Materials’ value chain in Southeast Asia, according to the company. Reusing fly ash from energy generation contributes significantly to reducing the CO2 intensity of composite cement while used as an additive, fly ash can replace part of the energy-intensive clinker ... |
New MYR1.2bn cement plant for Sabah01 May 2024, Published under Cement NewsA MYR1.2bn (US$251.5m) integrated cement plant project in Kampung Kawayoi Pinangah, Tongod, central Sabah, Malaysia, will help boost the economy of the local community upon completion. Malaysia’s Sabah Chief Minister Datum Seri Hajiji Moor said that the new plant would complement the existing Cement Industries Sabah (CIS) Sen Bhd plant. “I believe this new factory will not only boost our cement production but we can also be a cement exporter,” he said, during the factory's groundbreaking ce... |