Displaying items by tag: Malaysia

Malaysia: Masiung Banah, the chair of Borneo Cement, has said that no forest clearance is taking place at the site of a proposed integrated cement plant in Tongod region. He explained that logging had taken place at the site before the project was proposed, according to the Star newspaper. The company added that it holds Environmental Impact Assessment approval to build a quarry and connecting road. It made a statement on the issue in response to the issue being raised by the Warisan Party at the Sabah state assembly in late November 2024.

Borneo Cement is a joint-venture between the Sabah state government and China-based Sinoma Industry. It plans to invest around US$270m in the project. Commissioning is scheduled from early 2026.

Italy: Cementir Holding has blamed a fall in earnings in the first nine months of 2024 on “lower results achieved in all geographical areas except Egypt.” It added that sales had fallen due to a decrease in volumes in some places and negative currency effects in Türkiye and Egypt. The group’s revenue fell by 5% year-on-year to €1.24bn in the first nine months of 2024, from €1.30bn in the same period in 2023. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 9% to €296m from €326m. Sales volumes of cement and clinker remained stable at 7.98Mt. It noted that volumes increases were reported in Türkiye and, to a lesser extent, in Malaysia and the US. However, volumes of ready-mixed concrete rose by 5% to 3.33Mm³ from 3.18Mm³.

Francesco Caltagirone Jr, chair and CEO, said “The results for the first nine months of 2024 are in line with our expectations and, after several quarters of contraction, signs of a market turnaround in some geographies are emerging in the third quarter of 2024. We are strengthening our competitive position through initiatives such as: the investment on Kiln 4 in Belgium, the restart of the second line in Egypt, the acquisition in concrete in Nordic & Baltic, a new limestone quarry in Malaysia, and the repurchase of a large part of the minority interest in our Egyptian subsidiary, to prepare ourselves for any upcoming market opportunities”.

Malaysia: Borneo Cement Sabah (BCS) is set to commence land works and forest clearance in Tongod district starting early September 2024, following the approval of its site preparation plan by the Sabah Department of Environment on 19 July 2024.

The Borneo Post reports that the cement plant will be fully automated and digitally controlled, with a conveyor used for the 3km stretch between the clinker quarry and the cement processing plant. The project will cost US$274m and will see a new road network spanning 26km from Kampung Matiku, Nabawan to the plant site at Kampung Kayawoi, with additional facilities like a dam and water treatment plant being developed and other facilities for use by local residents.

The first phase of the contract is expected to last a year, with factory operations anticipated to begin as early as January 2026.

Malaysia: Heidelberg Materials has announced its acquisition of ACE Group, a supplier of pulverised fly ash, effective 1 May 2024. Reusing fly ash from energy generation contributes to reducing the CO₂ intensity of composite cement. When used as an additive, fly ash can replace part of the energy-intensive clinker and thus reduce the CO₂ intensity of the cement.

The acquisition includes ACE Greencemt Venture, ASAS Asia and AGP Logistics, with the leadership team from ACE Group continuing to manage the operations post-acquisition. Both parties have agreed not to disclose the financial terms of the transaction.

Malaysia: The state government of Sabah broke ground on the construction of the Kampung Kawayoi Pinangah cement plant in Tongod on 27 April 2024. Bernama Daily Malaysian News has reported the value of investment in the plant’s construction as US$252m. Chief Minister Datuk Seri Hajiji Noor said that it will enrich the local economy with 1000 new job opportunities.

Singapore: Hong Leong Asia reported a 5% year-on-year rise in revenue to US$3.03bn and a 19% increase in net income to US$48.3m for 2023. In the second half of the year, the company’s building materials segment raised its sales by 14% to US$256m and more than doubled in profit to US$33.6m. It attributed the growth to its cement and ready-mix operations in Malaysia, which reversed its previous year's losses.

CEO Stephen Ho said "The prices we see in Malaysia now reflect a bit more closely the higher costs of operations. I think we are at a level where profitability starts to kick in for everyone.”

Malaysia: Borneo Cement Sabah expects to commission its US$417m integrated Nabawan cement plant later in 2024. The project additionally involves the construction of energy, road and water infrastructure. Malay Mail Online News has reported that Borneo Cement Sabah is a joint venture of Setia Alam and state-owned Sabah Economic Development Corporation, with investment from China National Building Material subsidiary Sinoma.

General manager Michael Kinsuan said that Borneo Cement Sabah will hire 1000 workers for the plant.

Malaysia: Hume Cement Industries has accepted an offer for a parcel of land it owns in Prai Industrial Estate, Pulau Pinang. Reuters has reported the value of the deal as US$8.57m, on which Hume Cement Industries expects to make a net gain of US$6.89m.

Malaysia: Hume Cement Industries has issued medium-term notes worth US$21.4m, which it said were fully redeemed on 18 December 2023. InPR News has reported that the issuance is the first part of a US$107m programme.

Malaysia: Malayan Cement’s net profit for the first quarter of its current fiscal year, the three months to 30 September 2023, increased to US$20.5m from US$203,000 during the same period of the prior fiscal year. Its revenue also rose, to US$250m from US$183m. This was mainly due to higher sales volumes and stabilisation in the selling prices of domestic cement and ready-mixed concrete.