Cement News tagged under: Thailand
Fitch Ratings – infrastructure to boost Thai demand17 November 2015, Published under Cement NewsFitch Ratings says demand for cement and building materials in Thailand will accelerate with the government's planned infrastructure investments over the near term. However, a slow recovery of demand from the residential segment should soften the pace of overall demand growth in 2016. The infrastructure investments will continue to be a key driver for cement and building materials over the next few years. The accelerated project implementation in rails, roads, harbours, and airports is wo... |
SCCC third-quarter net profit down on weaker demand and pricing29 October 2015, Published under Cement NewsSiam City Cement Co (SCCC) of Thailand posted a 3Q15 net profit of THB823m (US$23.1m), falling 22 per cent YoY. Lower domestic cement demand and selling price led the company's income to fall five per cent YoY to THB7419m. Although exports to neighbouring countries (eg, Cambodia, Myanmar, and Laos) grew, it was not strong enough to offset declining domestic sales as price competition intensified, thus depressing 3Q15 gross margin to 43.1 per cent. During the year, cement demand perform... |
SCG reports third-quarter results, names new chief28 October 2015, Published under Cement NewsSiam Cement Group (SCG), Thailand's largest industrial conglomerate, said on Wednesday its quarterly net profit rose 15 per cent YoY as improved margins from petrochemical products offset weak performance of cement and packaging businesses. July-September net profit was THB9bn (US$253.59m). But profit dropped 19 per cent from the previous quarter due to weaker chemical prices and inventory loss. New CEO named Meanwhile, the company has named Roongrote Rangsiyopash as the next presiden... |
Thai 3Q consumption likely to be flat - report07 October 2015, Published under Cement NewsCement consumption in Thailand is likely to be rather flat in 3Q15 and 9M15, according to a report by Bualuang Securities focussed on domestic cement major Siam Cement Co (SCC). Last week, the research house accompanied SCC's management and IR team to meet investors in Germany, Switzerland and France. The information gathered during the non-deal roadshow (NDR) gave Bualuang a clearer picture of SCC's long-term growth profile. Regarding SCC's Cement-Building Materials (CBM) business, Bual... |
Siam Commercial Bank Pcl sells stake in Siam Cement Pcl25 September 2015, Published under Cement NewsSiam Commercial Bank Pcl said on Thursday it sold its stake in Siam Cement Pcl to raise THB4.47bn (US$123.17m) funds to cover provisions for loans to struggling steel firm Sahayiriya Steel Industries. The Siam Cement shares were sold to the Crown Property Bureau which is already a major shareholder in Thailand's biggest cement firm, the bank's chief executive Arthid Nanthawithaya told Reuters. "We sold all our holding in Siam Cement to the Crown Property Bureau," he said. |
Siam City Cement to set up Cambodian JV24 September 2015, Published under Cement NewsThailand-based Siam City Cement (SCCC) has approved a plan to set up a joint venture with Chip Mong Group to operate a cement plant in Cambodia. Thailand’s second-largest cement producer SCCC will take 40 per cent equity in Chip Mong Cement Corporation Ltd, the joint venture firm, and Chip Mong Group and three other individuals will hold the majority 60 per cent. The JV firm has a registered capital of US$150m, comprising 75,000 ordinary shares at a par value of US$2000 each. It is expe... |
Siam Cement Group to miss full-year revenue target02 September 2015, Published under Cement NewsSiam Cement Group, Thailand's largest industrial conglomerate, expects to miss its revenue target of THB480bn (US$13.42bn) this year as consumers' purchasing power has declined amid a continued poor global economic outlook, Bangkok Post reported, citing chief executive Kan Trakulhoon. |
Thailand: Siam Cement raises net profit30 July 2015, Published under Cement NewsSiam Cement PCL, Thailand's largest industrial conglomerate, beat market expectations with a 63 per cent rise in quarterly net profit, boosted by better petrochemical margins and a pick-up in domestic cement demand. Domestic cement demand should grow by five to six per cent in the second half after a two per cent rise in the second quarter, as demand from government projects and commercial sectors recover, chief executive, Kan Trakulhoon, said. "This is the first time since the second qua... |
TPIPL to issue debentures to refinance debt16 July 2015, Published under Cement NewsTPI Polene Plc (TPIP), Thailand's third-largest cement-maker, says it will issue five tranches of THB17bn (US$497m) worth of unsubordinated debentures to retail and institutional investors next month, with coupon rates ranging between 4.1-5.2 per cent, the Bankok Post reports. Chief executive Prachai Leophairatana said the first lot would be a three-year debenture carrying a coupon rate of 4.1 per cent while the second tranche for four years carries a coupon rate of 4.4 per cent. The third ... |
Siam City Cement announces INSEE Alliance04 June 2015, Published under Cement NewsSiam City Cement (SCCC) this week announced one of Thailand's first industry-wide distribution channels and marketing collaborations in the building material sector with 11 other leading producers of construction materials to offer a " complete range of quality solutions' . The 'INSEE Alliance', which include companies producing structures, roofing, walls, flooring, and decorative materials will bundle their product offerings to project developers and modern-trade stores. Siva Mahasandana,... |