Financials_Integrated Cement Plant Aerial

CMS Cement has no plans to raise cement prices

Kuching (Sarawak), Monday, 27 February 2017 – CMS Cement Sdn Bhd today moved to instil confidence in the property development and infrastructure market in the State by refuting market rumours of a cement price hike.

Speaking about the rumours of a nationwide cement price hike, Dato’ Richard Curtis, Group Managing Director, Cahya Mata Sarawak Berhad, parent company of CMS Cement, 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. Due to CMS Cement’s foresight, forward planning and management, we were more than ready to deal with these challenging times, without passing the increased cost of doing business down to our customers.”

“Over the last year, CMS Cement has worked tirelessly to increase our clinker production facility’s efficiency and we have pre-emptively negotiated new 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 the 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% 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.”