Cement News tagged under: Singapore
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.... |
Thailand-based Ratanarak Group buys out Jardine Cycle and Carriage’s Siam City Cement stake for US$354m19 August 2024, Published under Cement NewsThe Ratanarak Group has increased its stake in Siam City Cement to 71.88 per cent by buying out Singapore-based Jardine Cycle and Carriage’s 25.54 per cent stake. The value of the transaction, carried out via Ratanarak’s subsidiary Sunrise Equity, is THB12.18bn (US$353.97m). |
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... |
Singapore's first electric concrete mixer truck arrives at Pan-United22 July 2024, Published under Cement NewsSingapore-based concrete supplier Pan-United Corp Ltd has unveiled the country's first fully-electric concrete mixer truck, highlighting its commitment to sustainability. The adoption of electric vehicles (EVs) represents a milestone in the company’s efforts to become a carbon-neutral ready-mix concrete company by 2050. The electric mixer truck will reduce the carbon footprint associated with the haulage of concrete by 45 per cent, compared to a vehicle using fossil-fuel. Furthermore,... |
Pan-United Corp appoints executive chairman, CEO and director positions16 July 2024, Published under Cement NewsSingapore-listed concrete producer, Pan-United Corp Ltd has appointed May Ng as executive chairman of the Board of Pan-United, and the appointment of Ken Loh as CEO of Pan-United. Both will relinquish their positions as Pan-United's CEO and COO, respectively, and assume their new appointments with immediate effect. Ms Ng succeeds Tay Siew Choon, who retired as a director of Pan-United in April 2024. The Board of Directors thanked and recorded their deepest gratitude and appreciation to Mr... |
ENVEA acquires Asia Pacific Air Quality Group14 May 2024, Published under Cement NewsEnvironmental management solutions company ENVEA has acquired Asia Pacific Air Quality Group (APAQ Group). ENVEA views the acquisition as core to developing its presence and reach in Asia, and is complementary to its existing product portfolio, technology offering and customer base. The financial terms of the transaction were not disclosed. APAQ Group is a specialist air quality business based in Singapore. With clients across Asia, it offers planning, consultancy and integration services... |
International Cement Group sees revenue advance 14% YoY11 April 2024, Published under Cement NewsInternational Cement Group (ICG) , which operates cement plants in Tajikistan and Kazakhstan, has reported revenue of SGD257.4m (US$191.4m) in 2023, up 14 per cent on the SGD225.2m seen in the previous year. Net income over the same period was down 44 per cent to SGD16.1m. EBITDA in 2023 was recorded at SGD60.8m, down from SGD66.2m in the previous year, while profit after tax contracted from SGD38.8m in 2023 to SGD29.1m in 2024. According to the company, the fall in profit was driven by a s... |
Pan United and partners to develop low-carbon opportunities12 January 2024, Published under Cement NewsTo collaborate on lower-carbon opportunities to support Singapore’s aspiration of achieving net-zero emissions by 2050, Pan-United Corp, Chevron Singapore, Keppel, Surbana Jurong, Air Liquide Singapore, Osaka Gas Singapore and Pavilion Energy have signed a Memorandum of Understanding (MoU). Collectively known as the Low Carbon Technology Industry Consortium (LCT-IC), the parties will explore through the advancement of technology, to accelerate the development of cost-effective carbon capt... |
Asian producers warned over carbon price liability05 December 2023, Published under Cement NewsAsian cement companies will see consistent negative margins in the next decade if they do not decarbonise, according to a report by the Imperial College Business School. The report, published in partnership with the Singapore Green Finance Centre, explored the financial impact of decarbonisation on Asia’s cement and steel companies covered by selected Asian Emission Trading Schemes. Researchers Dr Anastasiya Ostrovnaya, Antigoni Theocharidou, Julian Smart, Jan Ahrens and Dr Bob Buhr c... |