Malayan Cement 's Shareholders Approve Name Change to Lafarge Malayan Cement
Petaling Jaya, Tuesday, 27 May 2003
The Annual General Meeting of Malayan Cement Berhad's shareholders today approved the Company's 2002 financial statements and name change to "Lafarge Malayan Cement Berhad".
Malayan Cement President and CEO, TK Quah said "This name change reflects our identity as a member of the Lafarge Group whilst remaining very much a Malaysian-based company and pioneering the development of the local cement industry. Performance improvement will remain our key focus and we will continue to draw on Lafarge's international pool of experience and expertise to continuously improve our performance". On the outlook of the cement industry, Quah expressed confidence that domestic demand will register a positive growth this year as the construction industry continues to improve with extra boost from the economic stimulus package announced recently. "Though the impact on the construction industry may not be as immediate and direct as the 2 previous packages, the various measures, particularly the HOPE project, will help reduce the property overhang and translate into increased construction activities and cement demand ", he added.
With the conclusion of the Company's AGM, Y.A.M. Tunku Tan Sri Imran ibni Tuanku Ja'afar officially takes over the chairmanship from Y.A.M. Tunku Tan Sri Abdullah ibni Almarhum Tuanku Abdul Rahman.
Malayan Cement Berhad is the parent of a group of companies whose core businesses are the manufacture and sale of cement, ready-mixed concrete and related building materials. It is the pioneer of the Malaysian cement industry and a member of the Lafarge Group, the world leader in building materials with operations in 75 countries and 77,000 employees worldwide. More information is available on: www.malayancement.com.my