Displaying items by tag: UEM Group

Malaysia: UEM Group, a subsidiary of the Malaysian sovereign wealth fund, has revealed that it has shortlisted prospective buyers for Cement Industries of Malaysia (CIMA). The Edge Malaysia newspaper has reported that the list is comprised of four local entities, one entity based in China, one in Germany and one in the Philippines. None of the bidders is reportedly an existing competitor of CIMA in the Malaysian cement sector.

CIMA operates the 1.3Mt/yr Bahau cement plant in Negeri Sembilan. UEM group announced that it was seeking a buyer for the business in February 2023, at which time it was seeking a valuation of US$230m for it.

Malaysia: 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.