23 May 2013, Kuala Lumpur
Lafarge Malayan Cement Continues Solid Performance
Lafarge Malayan Cement Berhad (‘Lafarge’) held its 63rd Annual General Meeting today where it presented to its shareholders the company's results for the financial year ended 31 December 2012.
In line with sustained positive results, the Board of Directors declared a fourth interim single-tier dividend of 13 sen per ordinary share of RM1.00 each which was paid on 16 April 2013. The total dividend payout in respect of the financial year ended 31 December 2012 amounted to RM314.388 million, representing a payout ratio of 90%.
In 2012, the construction sector continued to expand strongly led by Government efforts to boost domestic demand with the roll-out of further key projects under the 10th Malaysia Plan and the Economic Transformation Programme. These, coupled with stable investments by the private sector and a steady stream of foreign direct investments, have contributed to growth in domestic cement demand of approximately 4%.
“2012 was an eventful year for Lafarge as we moved from a product line-based organisation to one that is country-based. This has fundamentally changed the way in which we do business and has allowed us to be more focused on our customers and market needs.”
"We are optimistic about the continued growth in demand for building materials and solutions and believe that Lafarge’s cement, concrete and aggregates businesses remain strongly positioned in these sectors”, said Bradley Mulroney, President and Chief Executive Officer.
With increasing demand by the construction industry in Malaysia for sustainable solutions, and with the building industry developing and working towards more sustainable and green practices, Lafarge will focus on further commercial differentiation through delivering more innovative and sustainable products and solutions as well as strive for continued industrial excellence. Following the recognition award for “Best Innovative Product” at the Greenbuild exhibition 2012 for Hydromedia, Lafarge remains encouraged and will be looking to launch more sustainable products and solutions in 2013.
“Moving forward, we see continued growth in construction activities driven by Government-led investments and infrastructure developments such as the roll-out of the Tun Razak Exchange and the next phase of the Mass Rapid Transit line, as well as further developments in Iskandar Malaysia amongst others. We will continue to introduce innovative products and solutions onto the market to promote sustainable construction in Malaysia and will continue to ensure that sustainability remains integral to our operations,” Bradley added.
Today’s Annual General Meeting also adopted the proposal to amend the articles of association of the company and to change the name of the company from Lafarge Malayan Cement Berhad to Lafarge Malaysia Berhad. This exercise is in alignment with its strategy to move from a product-based organisation to one providing innovative solutions to the construction sector.
About Lafarge Malayan Cement Berhad
Lafarge Malayan Cement Berhad is the parent of a group of companies in Malaysia and Singapore whose core businesses are in the manufacturing and sale of cement, ready-mixed concrete, aggregates and other related building materials. It built the country’s first cement plant in 1953 and currently has over 1,500 employees. Lafarge is the leader in the cement industry in Malaysia, operating a nationwide network of facilities that includes three integrated cement plants in Langkawi, Kanthan and Rawang, a grinding plant in Pasir Gudang and distribution channels by road, rail and sea. Lafarge is also one of the leading ready-mixed concrete companies in Malaysia with more than 30 batching plants throughout Peninsular Malaysia. Additional information is available at www.lafarge.com.my
About Lafarge Group
Syed Muhammad Syed Nadzir