CMS: No plan to raise prices of cement
KUCHING: CMS Cement Sdn Bhd has no plan to raise cement prices.
Giving this assurance was Cahya Mata Sarawak Berhad (CMSB) group managing director Datuk Richard Curtis who said: “Whenever there is pressure on the financial markets, rumours of price hikes in all materials surface. I am happy to record that CMS Cement has absolutely no plans to increase prices.”
The announcement has thus instilled confidence in the property development and infrastructure market in Sarawak by refuting market rumours of a cement price hike.
“Due to CMS Cement’s foresight, forward planning and management, we are more than ready to deal with these challenging times, without passing the increased cost of doing business down to our customers. CMSB is the parent company of CMS Cement,” Curtis stated in
Due to CMS Cement’s foresight, forward planning and management, we are more than ready to deal with these challenging times, without passing the increased cost of doing business down to our customers. CMSB is the parent company of CMS Cement.
a CMS Cement press statement made available here yesterday.
“Over the last year, CMS Cement has worked tirelessly to increase our clinker production facility’s efficiency and we have pre- emptively negotiated new and more favourable rates for raw materials. These advanced planning steps, combined with our new integrated cement and grinding facility coming online in Mambong, means that despite increased costs of doing business, we can effectively continue to support growth and development in Sarawak by not having to increase our prices.
“Our third plant in Mambong increases CMS Cement’s total annual rated cement production capacity by almost 60 per cent to 2.75 million MT, well above current local demand of around 1.7 million MT, enabling us to meet growing cement demand in Sarawak, including for big projects such as the Baleh Dam and the Pan Borneo Highway.
“This positive planning by CMS Cement to ensure a reliable supply of quality cement is indicative of the company’s sound business practices, and is yet another example of the company’s unwavering commitment to Sarawak and its sustained economic growth,” he said.
CMS Cement launched East Malaysia’s first integrated cement plant at Mambong here on November 2016. Built at a cost of RM190 million, the 1-mil MT plant incorporates state- of-the art European technology.
CMSB is a leading corporation listed on the Main Board of Bursa Malaysia, and is a major private sector player in Sarawak. It has evolved from a single product manufacturer of cement beginning in 1974 to become a corporation focused on its vision: ‘ To Become the Pride of Sarawak and Beyond’.
Today, its portfolio spans over 35 companies involved in cement manufacturing, construction materials, trading, construction, road maintenance, property development, financial services, smelting, education and other services.
Datuk Richard Curtis, Cahya Mata Sarawak Berhad group managing director