Displaying items by tag: Malaysia
Malaysia: Prime Minister Anwar Ibrahim says that a ‘reasonable’ cement price will be offered to housing developers that develop affordable projects. The initiative is targeted at the Bottom 40% (B40) and Middle 40% (M40) income groups, according to the Bernama news agency. The government is working with the Malaysian Cement and Concrete Association (C&CA) and private housing developers to offer the reduced cement price. US$27m will be provided to back the incentive. 1Mt of cement will be made available at a subsidised discount of 29% under the Rahmah Cement Scheme Initiative.
Anwar Ibrahim said “This private incentive is adequate for the construction of up to 24,000 units of affordable houses.” It is part of the coalition government’s ambition to increase the supply of affordable housing.
YTL Cement signs sustainability agreement with the Construction Research Institute of Malaysia
17 April 2023Malaysia: YTL Cement has signed a memorandum of understanding (MOU) with the Construction Research Institute of Malaysia (CREAM) to support the transition of the local construction industry to sustainable construction practices. Under the deal, YTL Cement will also contribute to the Construction Industry Development Board’s (CIDB) goals by rolling out human resource development programmes, research and development initiatives.
As part of the MOU, YTL and the CIDB will jointly design training programmes for young adults to be certified as concrete technicians and develop the training syllabus for accreditation programmes of qualified personnel in operations. It is hoped that this will assist in attracting, retaining and growing skilled workers in the construction industry. CREAM will work with YTL Cement’s team of experts to conduct research and development on lower embodied carbon alternatives in materials and construction methods. CIDB and YTL Cement will also work together to increase awareness on the embodied carbon of the construction sector by providing channels for discussions and knowledge transfer among industry practitioners and experts.
Spain: Holcim España has appointed José María Gómez as the director of its Jerez cement plant near Cadiz. Gómez previously worked as the Head of Production at the Montcada i Reixac cement plant near Barcelona. He holds over 15 years of experience with the company, including in Malaysia. He is a graduate in environmental sciences from the University of Castilla-La Mancha.
UEM Group looking to sell Cement Industries of Malaysia
17 February 2023Malaysia: UEM Group, an infrastructure and services conglomerate, is reported to be working with financial advisers on the potential sale of Cement Industries of Malaysia (CIMA), its Malaysia based producer and distributor of cement and ready-mixed concrete. UEM is seeking a valuation of about US$230m for CIMA, which has a cement capacity of 1.3Mt/yr. Persons close to the company indicated that other producers in the Malaysian cement market had shown interest in purchasing CIMA, although a representative for UEM Group declined to comment.
Malaysia: The Sarawak Economic Development Corporation (SEDC) and Bintulu Development Authority (BDA) are planning to set up a joint-venture tasked with imported cement into Sarawak due to shortages and high prices. The company intends to import 0.5 – 1Mt/yr of cement from Siam Cement Group (SCG) in Thailand, according to the Star newspaper. Representatives of the SEDC and BDA recently visited SCG in Bangkok.
Cement prices in Sarawk are reportedly 15% higher than in mainland Malaysia and 4% higher than neighbouring Sabah. Supply and pricing issues have adversely affected infrastructure projects in the state. Maintenance at CMS Cement’s integrated Mambong plant south of Kuching and delays in delivering raw materials to its grinding plant at Kuching grinding plant caused further disruptions to cement supplies in late 2022.
Builders' associations lobby Malaysian government to investigate cement price rises
21 December 2022Malaysia: The Johor Builders Association, Melaka Builders Association, Penang Builders Association and Perak Contractors Association have published a joint statement addressed to the Ministry of Domestic Trade and Cost of Living (KPDN). In the statement, they lobbied the KPDN to investigate an allegedly suspect rise in cement prices between November 2020 and December 2022.
The builders' associations said "We also want to extend an appeal to the ministry to conduct a review into whether any party may have violated the Competition Act, which prohibits anti-competitive agreements and abuse of dominant position in the market, during the implementation of these price increases."
Malayan Cement increases sales in third quarter of 2022
25 November 2022Malaysia: Malayan Cement recorded sales of US$192m during the third quarter of 2022, more than triple its third-quarter 2021 sales of US$63.6m. The company recorded a US$213,000 profit, compared to a US$5.29m loss in the corresponding quarter of 2021.
Borneo Oil to enlarge Makin Teguh stake to 60%
31 October 2022Malaysia: Borneo Oil has entered into a conditional share sale agreement with Makin Teguh's 45% owner Global 2332 to enlarge its stake in the cement company by 31%, to 60%. Borneo Oil has proposed a private placement to raise US$11.3m towards funding the US$21.2m deal. It previously completed a US$4.65m shares issue on 26 October 2022. Bernama Daily Malaysian News has reported that Makin Teguh plans to commence operations at its 220,000t/yr Sabah integrated cement and clinker plant in early 2023. It owns two limestone mines, with total reserves of 14.4Mt.
Cahya Mata Sarawak reassures customers amid cement shortage
31 October 2022Malaysia: Cahya Mata Sarawak has informed its customers that its cement despatches will be 'back to normal' by 6 November 2022. The producer's closure of its 1Mt/yr Kuching cement plant for maintenance, followed by unexpected raw materials supply issues, has caused a shortage of cement in western Sarawak State. Bernama Daily Malaysian News has reported that a 14-day delay to raw materials deliveries to the Kuching plant ensued due to heavy rains.
The producer said “We would like to apologise for the shortage of cement, and will strive to ensure a steady supply of cement to all of our customers.”
Cahya Mata Sarawak has successfully maintained regular supply of cement to other areas of Sarawak, including Bintulu, Miri and Sibu, through despatches of cement from its Bintulu grinding plant.
CIMB Group sets 2030 cement financing sustainability targets
28 September 2022Malaysia: Bank CIMB Group Holding Berhad has published sustainable finance targets for its lending to cement sector clients. Islamic Finance News has reported that the institution will reduce the emissions intensity of loans to cement producers by 36% to 720,000t per tonne of cementitious product by 2030 from 460,000 at present.
CIMB Group Holding Berhad recently doubled its sustainable finance target to US$13m by 2024, from US$6.48m.