Asia Cement China owner proposes $647M deal to privatise company

10 Jun 2024 CW Team

Additionally, on May 27, shares increased by 14%, bringing the company's market capitalization to $666 million. However, this is still far less than its high of $2.8 billion set in July 2019. The Hong Kong-listed company has requested permission from the stock market to start trading again on Thursday. Currently holding 67.73% of the Hong Kong-listed company, Asia Cement Corp. reported a first-quarter loss of around $17.9 million in April. China is struggling with a heavily indebted real estate market, which has impacted domestic construction suppliers and compelled Beijing to declare stimulus plans in an attempt to halt the housing sector's downturn.

Asia Cement China's top and bottom lines have declined in recent years as a result of a number of issues, including the COVID-19 outbreak, the housing market crisis, increased borrowing costs, and intense competition. Listed in Taiwan The shipping-to-telecom giant Far Eastern New Century Corp. is the owner of Asia Cement Corp.

Construction suppliers are still struggling with China's property industry, which is severely affected by the crisis. As a result, the majority owner of Asia Cement (China) Holdings Corp. has proposed to take the cement producer private, valuing it at $646.66 million, according to the businesses. As part of the deal, the Hong Kong-based company's most recent closing on May 28 is being discounted by 3% to HK$3.22 for each Asia Cement China share that Taiwan-listed Asia Cement Corp. does not currently hold. After Asia Cement China's shares increased by as much as 47% their largest intraday increase since November 2008?trading in the company's shares was halted in Hong Kong on May 28 in anticipation of an announcement on takeovers and mergers.Additionally, on May 27, shares increased by 14%, bringing the company's market capitalization to $666 million. However, this is still far less than its high of $2.8 billion set in July 2019. The Hong Kong-listed company has requested permission from the stock market to start trading again on Thursday. Currently holding 67.73% of the Hong Kong-listed company, Asia Cement Corp. reported a first-quarter loss of around $17.9 million in April. China is struggling with a heavily indebted real estate market, which has impacted domestic construction suppliers and compelled Beijing to declare stimulus plans in an attempt to halt the housing sector's downturn.Asia Cement China's top and bottom lines have declined in recent years as a result of a number of issues, including the COVID-19 outbreak, the housing market crisis, increased borrowing costs, and intense competition. Listed in Taiwan The shipping-to-telecom giant Far Eastern New Century Corp. is the owner of Asia Cement Corp.

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Infrastructure Urban

13 Mar 2026

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Infrastructure Urban

13 Mar 2026

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..