Siam Cement Group (SCG) of Thailand expects its building materials business to achieve its forecasted 5-10 per cent growth this year, showing little impact from prolonged political unrest.
The overall building materials market expanded by 4-5 per cent in the first quarter, thanks to the government’s economic stimulus project said Kajohndet Sangsuban, president of SCG Distribution Co.
Although Bankgkok’s economy and the tourism sector have been badly hurt by red-shirt rallies, provincial markets provide 70 per cent of construction materials sales, he said.
Mr Kajohndet said the market has performed in line with company’s forecast in the first quarter, during which government projects under the Thai Khem Khaeng scheme lifted sales.
"As Thailand’s economic fundamentals have remained strong, we expect minimal impacts potentially caused by ongoing political problems for the whole year," he added.
Pramote Techasupatkul, the president of SCG Cement Co, said the company was confident of achieving 5% growth in terms of volume and revenue this year, with overall sales of 18Mt, including 7.5 to 8Mt of exports.