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.

Malaysia: Cement Industries of Malaysia Bhd (CIMA), a wholly-owned subsidiary of UEM Group Bhd, is set to be the first cement manufacturer in the country to use tyres and biomass waste as an alternative source of fuel.

CIMA managing director Mohd Yusri Md Yusof said that the company has installed an alternative fuel combustion system from Japan's Taiheiyo Engineering Corporation, which will allow the company to use tyres and biomass waste such as palm kernel shell and empty fruit bunch (EFB) as an alternative source of fuel.

"The move makes CIMA the first cement manufacturer in the country with this technology," said Yusof. He added that using waste as alternative fuel for cement production ensures that waste materials are reused in a responsible manner instead of being disposed of in landfills.

"With this state-of-the-art technology in place, we can reduce energy costs through the utilisation of tyres and biomass up to a maximum of 30%, while at the same time playing an active role in reducing our carbon footprint," said Yusof.

Meanwhile, Plantation Industries and Commodities minister, Douglas Uggah Embas, said that the Malaysian government has identified biomass as one of the growth areas towards creating wealth from waste. "The National Biomass Strategy 2020 outlines the framework and the potential of the biomass in creating higher value-added economic activities. The National Biomass strategy envisages a potential contribution of Gross National Income of US$9.16bn by 2020," said Embas.