Cement News tagged under: Malaysia
Cahya Mata Sarawak sees gradual increase in cement demand04 March 2021, Published under Cement NewsMalaysia-based Cahya Mata Sarawak Bhd (CMS) can expect an improved financial performance this year, given the anticipated gradual recovery in the demand for building materials in Sarawak following the relaxation of movement restrictions. TA Securities Research said CMS management expects demand for cement to be around 1.6Mt in 2021, backed by ongoing infrastructure projects such as the Pan Borneo Highway, Coastal Road and Baleh Hydro Dam. The group’s clinker plant is also on track... |
YTL Corp Bhd's net profit rises to MYR16m01 March 2021, Published under Cement NewsYTL Corp Bhd’s net profit jumped to MYR16.09m (US$3.9m) in the 2QFY21, ended 31 Dec 2020, from MYR1.29m in the preceding quarter, thanks to a strong showing by its multi-utilities business segment in Singapore. Revenue increased 10 per cent to MYR4.59bn, from MYR4.18bn in 1QFY21. Group Executive Chairman Tan, Sri Francis Yeoh Sock Ping, said YTL Corp's earnings before interest, tax, depreciation and amortisation (EBITDA) stood at MYR2bn for the six months, as the group remained resilie... |
YTL Corp posts 18% rise in revenue27 November 2020, Published under Cement NewsMalaysia’s YTL Corp has posted an 18.2 per cent MoM increase in revenue to MYR4.2bn (US$1.03bn) for the third quarter of 2020, compared with MYR3.5bn in the 2Q20. Pre-tax profit also improved to MYR136.8m from a loss of MYR135.5m in the previous quarter. The sequential improvement in performance was mainly driven by its cement and utilities segments. |
Steppe Cement announces alternate directors02 October 2020, Published under Cement NewsSteppe Cement has announced that Gan Chee Leong and Charles Tingey have been appointed as alternate directors to the CEO, Javier del Ser Perez, and independent non-executive director, Rupert Wood, respectively, with immediate effect. The alternate directors will represent the CEO and non-executive director in board meetings held in Malaysia due to the impact of the COVID-19 pandemic on travel arrangements. |
Malaysia’s CMS sees 64% drop in net profit02 July 2020, Published under Cement NewsMalaysia-based Cahya Mata Sarawak Bhd (CMS) reported a 32.5 per cent drop in revenue to MRY282.5m (US$65.9m) in the first quarter of 2020. Its cement segment saw revenues fall by 17.9 per cent to MRY120.2m and was the least-affected part of the business. Profit before tax declined 57.1 per cent YoY to MYR32.7m with the cement segment being the only one to record a profit. CMS’s cement business saw a 69 per cent rise in profit before tax to MYR144.7m. This resulted in a cement profit margin... |
YTL Corp records 11% revenue increase17 June 2020, Published under Cement NewsMalaysia’s YTL Corp has reported a 65.6 per cent decline in net profit to MYR29.52m (US$6.9m) in the third quarter ending 31 March, compared to MYR85.79m in the year-ago period. However, the group’s revenue advanced 11.6 per cent YoY to MYR4.81bn from MYR4.31bn. For the nine-month period until March 2020, YTL Corp saw a 75.7 per cent YoY fall in net profit to MYR62.37m from MYR256.40m in the previous fiscal, while revenue increased 20.8 per cent YoY to MYR15.64bn from MYR12.95bn. The hi... |
Hong Leong Asia grows stake in Tasek Corp17 June 2020, Published under Cement NewsHon Leong Asia’s wholly-owned subsidiary, Ridge Star, has acquired 30,700 shares of Malaysia-based Tasek Corp at a value of around US$57,964, according to The Straits Times. Following this development, Hong Leong Asia now owns a 92.4 per cent stake in the company. Last month, Hong Leong Asia had submitted an unconditional voluntary takeover offer for the remaining shares of Tasek at MYR5.80 (US$1.36) per ordinary and preference share. |
Southeast Asia’s capacity conundrum09 June 2020, Published under Cement NewsSoutheast Asia’s vibrant cement industry faces a serious but not insurmountable challenge from the current COVID-19 pandemic. In the long-run, structural overcapacity will be the key force of change, as it exerts pressure on business models, forces consolidation and calls time on new capacity. Figure 1: ASEAN GDP growth rates, 2019A-2021F Southeast Asia, which in this article relates primarily to the 10 nations making up the Association of South East Asian Nations (ASEAN) includ... |
Malaysia – finding its resolve02 June 2020, Published under Cement NewsWithin southeast Asia, Malaysia represents one of the largest consumers of cement per capita. The lacklustre demand trends seen in the past 4-5 years were forecast to ameliorate in 2020 due to an influx of government-backed projects. However, as COVID-19 wreaks havoc on economies and industries, the impact on demand remains to be seen. By Manas Tamotia, LEK Consulting, Singapore. Given that Malaysia’s cement sector was showing a resolve to rationalise and yield long-term value, LEK... |
APMC's Rawang plant to close for upgrade programme27 May 2020, Published under Cement NewsAssociated Pan Malaysia Cement (APMC), a wholly-owned subsidiary of Malayan Cement, reportedly released the majority of its employees a few weeks ago, according to The Edge. Furthermore, company operations reportedly stopped last year, after YTL Cement acquired 51 per cent of Malayan Cement. In a response to a request for clarification from The Edge Malaysia, YTL Cement stated: "APMC’s Rawang plant, the nation’s first and oldest cement plant, will be undergoing a MYR200m (US$45.89m) rejuv... |