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YTL Cement acquires 32.10% stake in Perak-Hanjoong Simen

   
From left: Choi Ir-Ju, Chief Representative South-East Asian Countries, Industries & Construction Co. Ltd, Gopeng Berhad Executive Director Hasan Ameer Ali, YTL Cement Managing Director Tan Sri Francis Yeoh, Doosan Heavy Industries & Construction Executive Vice President & CFO Sung Hee Lee and YTL Cement Director Dato' Michael Yeoh at the signing ceremony.

Kuala Lumpur, 16 July 2004

YTL Cement Berhad (YTL Cement) announced today that it had entered into sale and purchase agreement with Doosan Heavy Industries Construction Co. Ltd. (DHI) of Korea, to acquire a 32.10% stake in Perak-Hanjoong Simen Sdn Bhd (Perak-Hanjoong), for a total cash consideration of RM75.250 million (US$19.803 million)(the "Proposed Acquisition”).

Perak-Hanjoong is the second largest integrated cement producer in the country with a 16% share of the domestic cement and clinker markets. Operating two plants located in Padang Rengas, Perak, Perak-Hanjoong has a plant capacity of 3.0 million metric tonnes (MT) per annum for clinker and 3.4 million MT per annum for cement, both of which are manufactured for local and export markets. The company also has a cement depot and packing plant in Batu Caves, with an annual capacity of 600,000 MT.

Perak-Hanjoong’s products are marketed under the trade name “Camel”.

The Proposed Acquisition will enable YTL Cement to develop and expand its presence and market share in the cement industry. The investment in Perak-Hanjoong is an opportunity to invest in an operating asset that has garnered substantial market share in a competitive industry.

YTL Cement Managing Director, Tan Sri Dato’ (Dr) Francis Yeoh Sock Ping said, “Perak-Hanjoong and YTL Cement have a long-standing and mutually beneficial business relationship.?The Proposed Acquisition will further cement this partnership and is well in line with YTL Cement’s policy of pursuing expansion opportunities as they arise and enhancing operations in niche markets, whilst further developing and enhancing a proven strategy of producing high-quality products and improving customer service and the efficiency of our distribution networks.”


Information on Perak-Hanjoong Simen Sdn Bhd

Perak-Hanjoong is principally involved in the manufacture and sale of cement and clinker for local and export markets, with a current plant capacity of 3.0 million MT per annum for clinker and 3.4 million MT per annum for cement.

Perak-Hanjoong currently operates two plants situated in Padang Rengas in Perak Darul Ridzuan. Plant 1 is located on an 82-acre site at the foot of a limestone range outside Padang Rengas and was completed in October 1996 on a turnkey basis by DHI, with commercial production commencing in April 1987. Plant 1 has cement and clinker production capacities of 1.6 million MT per annum and 1.4 million MT per annum respectively.

Perak-Hanjoong subsequently embarked on an expansion programme to increase its production capacity through construction and installation of a second cement plant (Plant 2), adjacent to the existing plant. DHI was also the contractor for Plant 2. Plant 2 was completed and commenced commercial operations in the second half of 2002, with a production capacity of 1.8 million MTN per annum for cement and 1.6 million MT per annum for clinker.

Perak-Hanjoong’s market share for 2003 was 16% based on its clinker and cement sales, making it the second largest integrated cement producer in the country.


Information on YTL Cement Berhad

YTL Cement Berhad is one of the nation’s largest producers of ready-mixed concrete and operates cement and slag grinding facilities in key locations, West Port, Port Klang and Pasir Gudang, Johor. YTL Cement also owns a 100% stake in Pahang Cement Sdn Bhd, the only integrated cement plant located in the eastern corridor of Peninsula Malaysia.

YTL Cement has also won a number of awards for its commitment to a long-standing policy of enhancing shareholder value, such as the Smart Investor–KPMG Malaysia Annual Shareholders’ Value Award and the Forbes Global 200 Best Under a Billion companies.

The YTL Cement Group contributes significantly to the industry’s infrastructure and construction works. These include several large scale projects such as the Express Rail Link, roadbuilding works, bridges, infrastructure works, port facilities, residential housing projects and hospitals.

The Group’s renowned range of products and brand names include Slagcem, SRC (sulphate resisting cement), Marinecem, Orang Kuat and Dragon.



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