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(MALAYSIA)Kedah Cement moves to Mya
- Subject: (MALAYSIA)Kedah Cement moves to Mya
- From: altsean@xxxxxxxxxx
- Date: Thu, 21 Aug 1997 10:38:00
Subject: (MALAYSIA)Kedah Cement moves to Myanmar
The Star (Malaysia)
Wednesday, August 20, 1997
Kedah Cement plans move into Myanmar
KUALA LUMPUR: Kedah Cement Holdings Bhd (KCHB), which has long harboured
ambitions to expand into the Asean market, is including new member Myanmar
in its immediate plans.
The company, which has a cement plant in Langkawi, plans to build a RM50
million cement service terminal in Myanmar to play a role in the
reconstruction of the country.
"We are looking at several possible sites in Myanmar. Once the site has
been identified, we expect work on the terminal to start soon and for
completion in 18 months," joint managing director Datuk Tik Mustaffa told
reporters after the company AGM in Kuala Lumpur yesterday.
Tik Mustaffa is confident the Myanmar project would prove to be a good
investment because the country was short of one million tonnes of cement
The company's other joint managing director, Lim Yen Haat, said the
decision to invest in Myanmar was based on the positive outlook for the
building industry there, with the government going into tourism development
in a big way.
"The cement terminal will be used to distribute surplus cement produced in
Langkawi and also those imported from countries like Japan and Taiwan," he
Lim added the Myanmar venture was the beginning of its expansion into Asean
to take advantage of the implementation of the Asean Free Trade Area (Afta)
Other than the integrated cement plant in Langkawi, KCHB has a cement
service terminal in Prai, a clinker grinding plant in Batu Caves, two
service terminals in Port Klang, and a service terminal in Pasir Gudang.
Malaysia is expected to import 2.5 million tonnes of cement this year, up
from one million tonne last year.
The country needs some 14.5 million tonnes of cement this year mostly for
the construction of mega projects and houses.
Demand for cement is projected to reach 20.5 million tonnes by year 2000.
KCHB has a 25 per cent share of the cement industry.
KCHB posted a 53 per cent higher group pre-tax profit of RM122.62 million
for the year to March 31, 1997.
This was achieved on a 65.9 per cent higher turnover of RM561.1 million.
After-tax profit for the group stood at RM117.28 million.
A L T S E A N - B U R M A
ALTERNATIVE ASEAN NETWORK ON BURMA
*tel:  275 1811/693 4515 *fax:  693 4515 *e-mail: altsean@xxxxxxxxxx