Cement News tagged under: Siam Cement Group
SGC second-quarter declines on weaker demand31 July 2014, Published under Cement NewsSiam Cement Group (SCG) reported a 14 per cent decline in second-quarter net profit due in part to weaker domestic cement demand as months of political unrest have delayed spending on infrastructure projects. Profit for the three months to the end of June fell to THB8.53bn, which was also impacted by lower chemical earnings. SCG chief executive, Kan Trakulhoon, said Thai cement demand is expected to increase by zero to one per cent due to a drop in construction activity and a lack of n... |
SCG: second-quarter earnings drop expected, outlook upbeat17 July 2014, Published under Cement NewsSiam Cement, Thailand’s largest industrial conglomerate and leading cement producer, is expected to report a 10.5 per cent drop in second-quarter earnings, according to KGI Securities. The decline is mainly attributed to falling regional demand for chemical products. KGI analyst Nat Panassutrakorn has revised down his full-year net profit forecast by 8.2 per cent to THB34.5bn (US$1.1bn), but is more upbeat about longer-term prospects. "Revival in local confidence, quick disbursement fr... |
SCG prepares to launch flagship products to Indonesian market16 July 2014, Published under Cement NewsSiam Cement Group (SCG) is preparing to introduce its three flagship products to the Indonesian market, a country high on the Thai building materials major's agenda as it looks to extend its southeast Asian presence. The three products are SCG’s energy-saving lightweight concrete SCG Smartblock, the quick-to-dry Portland composite cement SCG Cement PCC, and the ready-mixed concrete Jayamix by SCG Super Concrete. The products will be used to serve the Jakarta market initially. SCG Sma... |
Improving demand outlook for SCC, Thailand15 July 2014, Published under Cement NewsDespite demand for cement and building materials yet to show signs of recovery in Thailand, consumption is expected to improve, particularly from next year, according to a recent report. Analysts at TISCO Securities believe the economic policy of the new government will help boost domestic consumption and raise public investments, which will turn to demand for basic materials, e.g. cement, building materials, paper & packaging and plastics, all of which are SCC's products. However, the de... |
Siam Cement Group plans greenfield Laos plant01 May 2014, Published under Cement NewsSiam Cement Group, Thailand's largest industrial conglomerate, is set to construct a greenfield cement factory in Laos, president and chief executive Kan Trakulhoon, has revealed. The Bangkok Post reported that the board of directors have approved a plan to build the works with a cement capacity of 1.8Mta. The new plant, to be located in Khammouane province, will become operational in the second quarter of 2017. |
Thailand demand growth to halve in 201424 March 2014, Published under Cement NewsThe protracted political crisis in Thailand is impacting the domestic construction market, and cement consumption is expected to grow at half the rate expected, according to President and CEO of Siam Cement Group. "The overall market of cement and construction materials has shrunk over the past couple of months thanks to the sluggish economy which has been hit by the prolonged political problems,'' Mr Kan told the Bangkok Post. "Earlier we forecast the two industries should increase by 8-9... |
SCG maintains revenue forecasts, demand to remain subdued21 March 2014, Published under Cement NewsSiam 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 jus... |
SCG Myanmar plant scheduled for 2016 completion18 March 2014, Published under Cement NewsConstruction of Siam Cement Group’s (SCG) new 2Mta plant in Myanmar is progressing well with completion is scheduled for 2016, Chana Poomee, country director of SCG in Myanmar, has said. Mr Poomee told The Nation newspaper that the project has received full support from the government and Mon State. Work currently underway includes construction of a new 20km road while the company is also repairing many roads in the state. SCG is one of a number of companies entering this high growth pote... |
SCG expects slower 2014 growth on impact of political instability31 January 2014, Published under Cement NewsSiam Cement Group (SCG) said it expects cement demand growth in Thailand to decelerate this year compared to the seven per cent advance seen in 2013, due to a slowdown in government infrastructure spending as a result of political unrest. Consumption has only increased by two per cent since the beginning of this year, versus a six per cent advance in the fourth quarter of last year, Reuters quoted Siam Cement chief executive Kan Trakhulhoon, as saying. Trakhulhoon has said growth of its... |
Fitch affirms Siam Cement ratings, outlook Stable30 January 2014, Published under Cement NewsFitch has affirmed Siam Cement Co's (SCC) National Long-Term Rating at 'A(tha)', National Short-Term Rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)'. The outlook is ‘Stable. Fitch expects SCC's capex to increase in 2014-2015 as it expands its businesses, particularly in Southeast Asia. A majority of investments will be in the cement and building materials businesses. It expects SCC's net adjusted debt/EBITDAR, including dividends from associates, to be within 3.0x-3.5x ... |