Cement News tagged under: south Asia
Raysut Cement acquires 75% stake in Maldives terminal14 October 2020, Published under Cement NewsOman’s Raysut Cement Co has announced that its has acquired a 75 per cent stake in LafargeHolcim’s cement terminal at Thilafushi Island in the Maldives. As a result, it has formed a new joint venture, Raysut Maldives Cement Pvt Ltd. The new entity, with the State Trading Organisation (STO) of Maldives owning 25 per cent, has plans to expand the terminal's capacity from 75,000tpa to over 200,000tpa. The terminal will be owned and operated by the RCC-STO joint venture entity. "The Maldiv... |
Vietnam sees exports rise 14% YoY13 October 2020, Published under Cement NewsIn the first eight months of 2020, Vietnam exported more than 23.5Mt of cement and clinker, an increase of 13.7 per cent YoY. The biggest importers were China (12.6Mt), the Philippines (nearly 4.5Mt) and Bangladesh (1.7Mt). Some reports suggest that the current export cement prices are lower than the domestic cement rates, according to Vietnam News. However, insiders have disagreed with this and state that the export price should not be compared with selling prices in the local market ... |
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. |
PhilCement responds to standards compliance claim01 October 2020, Published under Cement NewsThe Cement Manufacturers of the Philippines (CeMAP) has reported a potential standards compliance issue against PhilCement Corp to the country’s Department of Trade and Industry (DTI), according to the Manila Bulletin. CeMAP Executive Director, Cirilo Pestaño, raised the "possible non-compliance of PhilCement Corp’s Union V Super Strength 40 Type 1P cement to Philippine National Standards (PNS) and Department Administrative Order (DAO) 17-06, or the new rules covering cement in the countr... |
Quang Ninh to delist 38.72m shares24 September 2020, Published under Cement NewsVietnam’s Hanoi Stock Exchange (HNX) has announced that it will delist 38.72m shares of Quang Ninh Construction & Cement on 29 September. The stock of QNC will have 28 September as the last trading date, according to the HNX website. The move aims to help QNC focus on the restructuring of its business activities to improve performance. In the first half of 2020, QNC posted a net profit of VND61bn (US$2.63m) and saw revenue up 22.6 per cent YoY to VND711bn. |
Vietnam's cement and clinker exports rise in August17 September 2020, Published under Cement NewsVietnam exported 4.2Mt of cement and clinker worth US$148.3m in August, rising 31.4 per cent MoM in volume and 24.3 per cent in value, according to the General Department of Vietnam Customs. In the 8M20 the country exported 23.9Mt of cement and clinker worth US$882m, up 1.2 per cent YoY in value and 15.7 per cent in volume. China was the biggest buyer during this period, importing 12.6Mt worth US$415.5m. This accounted for 53 per cent of Vietnam’s cement and clinker export volumes and 47 ... |
Indonesia's cement production forecast to fall 17% YoY11 September 2020, Published under Cement NewsIndonesia's cement production is likely to fall further in 2020, as a result of Jakarta's second lockdown, according to the Japanese investment bank, Nomura. The bank has cut its 2020 cement production estimates for Indonesia and now expects it to fall 17 per cent YoY. Halted construction activity could also indicate a longer recovery period for the cement sector. However, investors could take advantage of the pullback in stock prices and accumulate cement stocks before the next recovery c... |
Indonesian cement market contracts 16% in July27 August 2020, Published under Cement NewsCement demand in Indonesia declined 16.3 per cent YoY to 5.3Mt in July 2020, according to the Indonesian Cement Association (ASI). The market of Sulawesi saw the largest contraction at 26.1 per cent to 413,000t. However, the drop in consumption in the key markets of Sumatra and Java had a greater impact. In Java cement demand fell by 19.7 per cent to 2.96Mt while in Sumatra, consumption declined by 9.8 per cent to 1.14Mt. In Maluku and Papua cement sales were up 12 per cent YoY to 164,000t... |
Vietnam reports surge in exports in July25 August 2020, Published under Cement NewsCement sales in Vietnam fell eight per cent YoY but edged up by two per cent to 5.335Mt in July 2020, according to the Vietnam National Cement Association (VNCA). Of this total, VICEM dispatched 1.765Mt, down six per cent YoY but up four per cent MoM, while its joint ventures saw sales decrease by 13 per cent YoY although MoM they advanced one per cent. VNCA reported sales of other Vietnamese cement producers down by seven per cent YoY, but up two per cent MoM. In terms of exports, volumes... |
Ha Tien 1 Cement sees revenue down 14%25 August 2020, Published under Cement NewsVietnam’s Ha Tien 1 Cement JSC has seen its net revenue decline 14.1 per cent YoY to VND2035bn (US$87.1m) in the second quarter of 2020. Gross profit posted a minor decline of 2.6 per cent YoY to VND419.8bn. The company recorded a pretax profit of VND257.5bn, falling nearly VND3bn compared to the 2Q19. In the first half of the year, net revenue was down 13.7 per cent YoY to VND3767bn while pretax profit edged upwards to VND397bn. As a result, the first half has met 44 per cent of the r... |