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YTL profit up on cement sector in 2014 fiscal year 29 August 2014
Malaysia: The net profit of YTL Corp, which operates in the cement, property and other sectors, increased by 2.6% to US$107m in the fourth quarter of its 2014 fiscal year, which ended on 30 June 2014. Revenue, however, fell by 9.6% to US$1.44bn.
For the full year to 30 June 2014, YTL's net profit rose by 20.8% to US$490m from US$400m. Revenue slipped over the year to US$6bn from US$6.33m in the 2013 fiscal year.
"Our cement, property development and investment and hotel divisions all registered good growth," said group managing director Tan Sri Francis Yeoh Sock Ping in a statement. Yeoh said the jump in net profit was mainly due to improvements in the group's cement business, along with its property and hospitality businesses.
Usje sees net profit up by 28% 28 August 2014
Macedonia: Usje, part of Greece's Titan Cement, has announced that its net profit rose to Euro12.8m in the first half of 2014, a 28% improvement year-on-year compared to the first half of 2013. Usje's operating revenue increased by 15% to Euro32.5m in the same period, while operating costs rose by 5% to Euro21.2m.
Apodi to invest in new Sergipe plant 28 August 2014
Brazil: Apodi, owned by entrepreneurs Ivens Dias Branco (68%) and Juscelino Sarkis (32%), is to invest US$444m to set up a cement plant in the Brazilian state of Sergipe. It reportedly anticipates that the move will reinforce its stronghold in the north east of the country.
The new unit will have capacity for 5000t/day, adding to Apodi's two plants in Pecem and Quixada, Ceara state and expanding the company capacity to 10,000t/day in total.
Malaysia: Scientists have discovered a new snail species on a limestone hill known as Kanthan in Malaysia. They have named the species, which is only 2-3mm in diameter, 'Charopa lafargei,' after Lafarge Malaysia, the cement producer that owns the hill.
As Kanthan is the only place that this species has been observed, Charopa lafargei was immediately classed as 'critically endangered' in the IUCN Red List for Endangered Species. This means that its future is effectively in the hands of Lafarge, which purchased the hill to make cement. The scientists decided to name the snail after Lafarge for this reason, although it is not clear if or how the name will affect the future actions of the producer.
"I'm not aware of a species threatened with extinction that has been given the name of the company that can determine whether it goes extinct or survives," said Tony Whitten from Fauna & Flora International.
The new snail is not the only endemic species found on the hill. Kanthan is also home to nine plant species that are on Malaysia's Red List of Endangered Plants. One critically endangered spider, one gecko and two other snails that are also found only on Kanthan.
Ramco Cement to set up new plant in Andhra Pradesh 28 August 2014
India: Ramco Cement has announced that it intends to construct a cement factory at Kilimigundla in Kurnool District, Andhra Pradesh at a cost of US$250m. The total investment in the cement plant and related infrastructure could go up to US$500m, as the development will require a 20km rail line to facilitate transport.
Ramco has requested that the State Chief Minister provide necessary land to develop the plant and also facilitate necessary clearances to develop the rail line, which Ramco claims would also be useful for other projects in the area.
Meanwhile, Ramco has indicated that its new plant near Visakhapatnam will also be ready for commissioning by 15 October 2014.