Lafarge (M) slides on earnings downgrade

Lafarge Malayan Cement Bhd, the country’s largest cement maker, shed 1.5 per cent to RM6.50, set for its lowest close since June 9.

Lafarge SA said on July 2 it may sell as much as 11.2 per cent of its stake the Malaysian unit.

Separately, AmResearch Sdn Bhd in a report today cut its earnings estimates for Lafarge Malayan’s 2010-2012 financial years by 6 per cent to 13 per cent. - Bloomberg