Cement News tagged under: YTL Cement
Lafarge Malaysia shareholders vote down RPTs with YTL Cement24 September 2019, Published under Cement NewsMinority shareholders of Lafarge Malaysia have voted down a plan to enter into recurrent related party transactions (RPTs) with YTL Cement, estimated to be worth about MYR3.5bn (US$837.92m). The proposal was rejected by 76 per cent of the shareholders, according to a bourse filing. The RPTs would have allowed Lafarge to deal with YTL on the sale and purchase of clinker, cement and pulverised ash, and also fees for services and rental of properties in Johor and Singapore. |
LafargeHolcim04 June 2019, Published under Cement NewsLafargeHolcim has agreed the sale of its 51 per cent-owned subsidiary Lafarge Malaysia to YTLCement Berhad for US$396m, a 43 per cent premium to the latest share price before the deal was announced. The sale includes the 91 per cent-owned subsidiary Holcim Singapore Pte Ltd. Lafarge Malaysia operates three integrated cement works and two grinding centres. Completion of the deal was achieved on 17 May 2019. In the first quarter Lafarge Malaysia lost MYR32.07m (US$7.64m), compared with a loss ... |
YTL Corp sees cement revenue fall 4% in 9MFY1904 June 2019, Published under Cement NewsYTL Corp Bhd released disappointing results for the 9MFY19 for its cement division. Cement revenue was down by four per cent YoY, but earnings were up 96 per cent YoY. The Malaysian company reported lower a sales volume impacting its top line. YTL Cement's margins improved significantly given the higher selling price and lower operating expenditure. The recent 51 per cent acquisition of Lafarge Malaysia will reflect a small loss in contributions in 4QFY19. The acquisition is expected to im... |
Lafarge Malaysia announces new managing director31 May 2019, Published under Cement NewsLafarge Malaysia has announced the appointment of Michael Yeoh Sock Siong as managing director of the company effective from 31 May. The company stated that he has been repositioned from the previously-announced role of executive director to MD. Members of the Yeoh family, which controls the YTL group, joined the Lafarge Malaysia board two weeks ago after its acquisition by YTL Cement. |
Lafarge Malaysia reduces net loss in 1Q1930 May 2019, Published under Cement NewsLafarge Malaysia successfully reduced its net loss to MYR32.07m (US$7.64m) in the 1Q19, compared with MYR68.73m of the year-ago period. However, revenue saw a minor 1.5 per cent YoY fall to MYR538.7m from MYR546.8m, with the decrease attributed to lower cement sales caused by market conditions. The company noted that key infrastructure projects will help reduce the domestic cement industry’s overcapacity, but market conditions are expected to remain challenging. "There is still healthy ... |
YTL executives appointed to Lafarge Malaysia board while CEO resigns20 May 2019, Published under Cement NewsYeoh Khoon Cheng has resigned as CEO of Lafarge Malaysia although he will stay on as the group’s executive director. In addition, Lafarge Malaysia Vice Chairman, Martin Kriegner, and non-independent and non-executive directors John William Stull and Datuk Tan Pei Ling have also resigned. In a separate move, several YTL Corp Bhd executives have been appointed to the company’s board. YTL Corp Executive Chairman, Tan Sri Dr Francis Yeoh, and Managing Director, Datuk Yeoh Seok Kian, have bee... |
CTP Team wins Malaysian ESP to baghouse conversion project13 December 2018, Published under Cement NewsItaly-based CTP Team has been awarded a turnkey project for air pollution control in Malaysia for the conversion of an existing PL1 raw mill electrostatic precipitator (ESP) into a fabric filter as well as the upgrade of an existing exhaust fan. CTP Team has signed a turnkey contract with YTL Cement, for the conversion to bag filter of an ESP of Perak-Hanjoong Simen's cement plant in Pedang Rengas, Malaysia. The project consists of a full turnkey solution for the conversion into a more effi... |
YTL Corp records 11.3% net profit decline26 November 2018, Published under Cement NewsMalaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected to achieve satisfactory performance for FY19," stated the company. Company revenue in the first qu... |
YTL Corp founder dies19 October 2017, Published under Cement NewsYeoh Tiong Lay, the founder of and execuitive chairman of group YTL Corp, passed away on Wednesday, the group said in a news release. He was 88 years old. Mr Yeoh founded what was originally a construction company in 1955 and undertook civil works while the country was under British colonial rule before participating in development projects after independence in 1957. He assumed the role of executive chairman in 1985, allowing Francis and his six other children to run the group's day-... |
Challenging year for YTL's cement division17 August 2017, Published under Cement NewsFY17 is proving to be a challenging year for YTL Corp’s cement business due to overcapacity and weak demand from the property segment, according to a report by Affin Hwang Investment Bank Research published in the The Edge Financial Daily. "Although we are expecting a higher demand from infrastructure and property in FY18, we believe the incremental demand is not sufficient to absorb the overcapacity, limiting the upside of the recovery in earnings," Affin Hwang noted. Apart from the c... |