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Malayan Cement Bhd (MCB) is buying YTL Cement Bhd's entire entire cement and ready-mixed concrete operations in Malaysia for RM5.16bil in cash, new shares and preference shares.
KUALA LUMPUR (May 12): YTL Cement Bhd, a subsidiary of YTL Corp Bhd, today inked an agreement to sell its entire cement and ready-mixed concrete operations in Malaysia to its 76.98%-owned subsidiary Malayan Cement Bhd, for RM5.16 billion in a cash and stock deal. Under the agreement, Malayan Cement will acquire 12 companies under YTL Cement. All of these companies have an established track record of operational profit, YTL Cement said in a statement. Of the total consideration, which YTL Cement said is still subject to adjustments at the point of completion, RM2 billion will be settled in cas...
Malayan Cement to raise US$55.0m through share placement Written by Global Cement staff 16 April 2021 Malaysia: Malayan Cement is expected to raise US$55.0m through a proposed placement of 10% of its shares. Bernama Daily Malaysian News has reported that the company plans to use US$13.1m as working capital. The remainder will repay its bank debts.
KUALA LUMPUR: The local bourse ended the day on a flat note as investors remained on the sidelines amid lack of market-moving catalysts locally. The FBM KLCI added a negligible 0.13-of-a point at 1,608.38. It opened 0.81 of-a-point weaker at 1,607.44 this morning. The index was down 0.24% on week. On the broader market, gainers outnumbered losers by 516 to 501 while 484 counters unchanged. Trading volume stood at 6.56 billion units worth RM4.38bil. Dealers said buying interest today’s was interspersed with profit-taking. They expect trading on Bursa Malaysia to continue to be cautious. Top ...