Cement News tagged under: Siam Cement
Growing pains: southeast Asia's looming overcapacity29 April 2016, Published under Cement NewsPositioned between the two most populous nations on Earth, the emerging economies of southeast Asia have ridden the wave of economic growth in the early years of the century. Between 2000 and 2014 the 10 ASEAN countries saw their collective real GDP grow at 5.7 per cent annually and look set to continue this trend over the next five years. Cement demand has kept up with this brisk pace of expansion and – according to figures from Morgan Stanley – will continue to do so, growing at 5.2 per ce... |
Fitch affirms Siam Cement at 'A(tha)', Outlook Stable10 February 2016, Published under Cement NewsFitch Ratings (Thailand) Ltd has affirmed The Siam Cement Public Co Ltd's (SCC) National Long-Term Rating at 'A(tha)', National Short-Term Rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)' with a 'Stable' outlook. Fitch notes that SCC's strong operating cash flow led to an improvement in credit metrics in 2015. EBITDA increased to above THB70bn (US$1.98bn) which saw FFO (Funds From Operations) net-adjusted leverage reduce to 2.5x. "Whilst this is below the positive rating ... |
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... |
Upbeat outlook for Siam Cement PLC25 February 2015, Published under Cement NewsKasikorn Securities (Thailand) has reinitiated coverage of Thai conglomerate Siam Cement PLC with an 'Outperform' rating due to renewed optimism in domestic cement consumption and further improvement in its chemical business' profitability. The research house says the Thai cement industry is expected to resume its organic growth at about 6-7 per cent in 2015. “We believe that the industry has already passed the bottom with the government’s planned investment in major infrastructure projec... |
SCG chief anticipates 5% rise in 2015 demand30 October 2014, Published under Cement NewsCement demand in Thailand is expected to increase by at least five per cent next year stimulated by an acceleration of government infrastructure development, according to the chief of the country’s leading cement producer. Kan Trakulhoon, CEO of Siam Cement Group (SCG), believes that the Thai economy has bottomed out since August and is recovering gradually. He said the company expects cement demand to recover significantly from the second half of next year, thank chiefly to government pro... |
Siam Cement 3Q net profit down 20% YoY29 October 2014, Published under Cement NewsSiam Cement said on Wednesday its third-quarter net profit dropped 20 per cent YoY due to weak demand for construction materials. Thailand’s largest industrial conglomerate posted July-September net profit of THB7.85bn (US$241.7m). This compared with THB9.79bn a year earlier when the company booked a gain of THB1.5bn. Analysts at Krungsri Securities expect the slowdown to continue through the final three months of the year stating: "The declining trend will likely continue into the fourth ... |
Siam Cement announces tech investment plan23 October 2014, Published under Cement NewsSiam Cement Group (SCG) has announced it plans to spend THB200–250bn (US$6.1-7.7bn) for a new five-year investment budget for the 2015-2019 period although president and CEO, Kan Trakulhoon said the final sum was expected to surpass the current five-year budget. In the new budget period, the company intends to become a technology-driven firm and is eying investment in a European tech company. The company we're talking with at the moment is a technology company in Europe. We're looking out... |
Thailand: Siam Cement suffers market dip21 October 2014, Published under Cement NewsThai domestic cement demand dipped around three per cent YoY in 3Q14, as no new infrastructure projects broke ground during 9M14, while many old projects were completed, claims the Nation paper. The weaker demand probably squeezed the ex-factory price by THB25-50/t QoQ to THB1925-1950/t (US$59.60/t to US$60.40/t) in 3Q14, which would be flat YoY. Sales of building materials in Thailand are likely to have declined by as much as eight per cent YoY in 3Q14, due to weak consumption, particul... |
Siam Cement 3Q earnings’ outlook16 October 2014, Published under Cement NewsSiam Cement is expected to post a weak net profit for the third quarter of 2014, down 29 per cent YoY and 18 per cent QoQ, according to analysts at SCB Securities. The YoY drop reflects: no extra gain from the revaluation of its investment of THBt1.7bn as in 3Q13, the absence of 3Q13's THB840m inventory gain from its chemical unit and a slight decline in contribution from cement and building materials (lower sales volume) and paper (maintenance shutdown) units. The QoQ fall comes primaril... |
Siam Cement positive earnings outlook, Thailand24 April 2014, Published under Cement NewsSiam Cement Plc is expected to post another strong quarterly performance, according to analysts at SCB Securities cited in reports by The Nation. First quarter net profit is estimated at THB9.5bn (US$293.7m), up eight per cent YoY and 19 per cent QoQ. The growth is expected to be driven by a “wider chemical spreads, no repeat of last quarter's maintenance shutdown of its chemical and paper units, and seasonally higher sales volume for all business units.” SCB expects Siam Cement’s buildin... |