Cement News tagged under: Siam Cement Group
Thai King increases stake in Siam Cement19 June 2018, Published under Cement NewsThailand’s King Maha Vajiralongkorn Bodindradebayavarangkun has increased his stake in Siam Cement Group from 0.8 per cent to 30.8 per cent, and has become the top shareholder. King Vajiralongkorn took over all of the shares previously controlled by the Crown Property Bureau (CPB), an entity that manages royal assets, according to Nikkei. The transfer will not result in any change to the operations of the company. Alongside Siam Cement, King Vajiralongkorn also assumed control over the CPB... |
Siam Cement to appoint a new director15 March 2018, Published under Cement NewsAir Chief Marshal, Satitpong Sukwimol, a close aide of Thailand’s King Vajiralongkorn, is awaiting shareholder approval to become a director of Siam Cement Group (SCG). Mr Sukwimol has previously served on the board of the national flag carrier, Thai Airways International from 2009-13. More recently, he was appointed director-general of the Crown Property Bureau on Sunday. The multibillion-dollar royal property management organisation manages the assets of the king, including stakes in SC... |
Siam Cement record revenue increase in 201714 February 2018, Published under Cement NewsSiam Cement has released its financial results for the full-year period ended 31 December 2017. Revenue reached THB450.9bn (US$14.34bn), an YoY increase of six per cent from THB423.4bn. Net profit fell two per cent to THB55bn from THB56bn of 2016, due to weakness in the domestic cement and building materials operations. However, EBITDA advanced four per cent to finish at THB102bn. In the 4Q17 the company recorded a significant 14 per cent YoY increase in revenue to THB113,400. Net profit ... |
SCG cement revenues up 6%24 January 2018, Published under Cement NewsThai conglomerate Siam Cement Group (SCG) saw a 14 per cent YoY rise in consolidated sales in 4Q17 to THB113.4bn, as growth in the Packaging business offset a slight decline in the Chemicals division, reports the company. Consolidated EBITDA advanced by seven per cent YoY to THB26.593bn. Revenues from SCG’s Cement-Building Materials in 4Q17 increased six per cent YoY to THB43.372bn due to the contribution of the expanded ASEAN operations. However, EBITDA was impacted by the weakness in th... |
Siam Cement Group plans to diversify products20 December 2017, Published under Cement NewsSiam Cement Group (SCG) plans to diversify its products next year, according to the Jakarta Post. The company hopes to become more competitive in the market by applying technology and innovation to its products. “We want to compete by [introducing] more products and services,” said Nantapong Chantrakul, SCG country director for Indonesia. SCG has recently supplied construction materials for several large-scale projects in South Sumatra, such as new toll roads and a 2018 Asian Games st... |
Siam Cement Pcl sees 16% fall in profit01 November 2017, Published under Cement NewsSiam Cement Pcl reported a 16 per cent fall in 3Q17 net profit on Wednesday due to weak demand and lower margins in its chemical and packaging segments. According to a poll by Thomson Reuters, the net profit for the third quarter was THB11.84bn (US$357.06m) thereby missing expectations of THB14bn. Revenue from sales rose seven per cent to THB112.43bn. Domestic cement volume sales were also down two per cent YoY. Revenue from Vietnam, Indonesia and the Philippines helped by increasing profi... |
Mon State Parliament to debate coal-fired power plant07 September 2017, Published under Cement NewsMon State Parliament agreed on Tuesday to debate the legality of a cement factory’s coal-fired power plant in Mon State’s Kyaikmayaw Township, according to local press reports. The US$400m cement factory run by Mawlamyine Cement Ltd (MCL) – a joint venture between Thai firm Siam Cement Group (SCG) and Pacific Link Cement Industries – is powered by a 49MW coal-fired power plant. The proposal to debate the issue was submitted by Mon State lawmaker U Aung Kyaw Thu who stated that ‘local and ... |
SCG revises down full-year outlook28 July 2017, Published under Cement NewsSiam Cement Group's (SCG) has revised down its sales growth outlook for 2017 as net profits in cement and building materials fell by 29 per cent YoY in the 2Q17. Speaking to reporters in Bangkok on Tuesday, SCG chief executive, Roongrote Rangsiyopash, said the Thai cement market slowed more than the company expected in the period. Domestic cement sales by volume were down seven per cent YoY in the three months to the end of June, following a seven per cent fall the previous quarter. Demand... |
Vietnamese PM invites SCG to widen its investment in the country07 April 2017, Published under Cement NewsThe Prime Minister of Vietnam, Nguyen Xuan Phuc, has used a meeting with the head of Siam Cement Group to urge the company to expand its activities within the country. The Prime Minister met SCG President and CEO, Roongrote Rangsiyopash, in Hanoi on 5 April and used the occasion to underline the benefits of further investment in Vietnam. In March 2017 SCG announced that it was taking a 100 per cent stake in Vietnam Construction Materials, giving the Thai firm 3.1Mta of cement capacity in ... |
Vietnam: Thai acquisitions face tough competition15 March 2017, Published under Cement NewsThai companies have spent around US$600m acquiring assets in Vietnam even as the country’s cement producers face shrinking export markets and tougher domestic competition, Vietnam Net reports. At the end of February, LafargeHolcim completed the sale of its 65 per cent stake in its Vietnamese subsidiary to Siam City Cement (SCC) for at least US$550m. With the purchase, SCC now has 6.1Mta of capacity and a 20 per cent market share in southern Vietnam. Siam City’s domestic rival Siam Ceme... |