SCG maintains revenue forecasts, demand to remain subdued

Siam Cement Group (SCG) of Thailand is maintaining its 10 per cent revenue growth forecast for this year, despite delays to the government’s THB2trn infrastructure plan.

President and chief executive Kan Trakulhoon told the Bangkok Post that SCG’s 2014 revenue expectations do not take into account projects under the huge plan. The company has instead focused on the expansion of Bangkok’s subway and skytrain networks.

Domestic demand, however, is expected to remain muted and increase by just 2-3 per cent this year, as political conflict continues. Mr Kan told the newspaper that the economy is likely to feel the impact from the second quarter onwards “if an elected government is not installed soon.”