Cement News tagged under: Thailand

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Siam Commercial Bank Pcl sells stake in Siam Cement Pcl

25 September 2015, Published under Cement News

Siam 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 JV

24 September 2015, Published under Cement News

Thailand-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 target

02 September 2015, Published under Cement News

Siam 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 profit

30 July 2015, Published under Cement News

Siam 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 debt

16 July 2015, Published under Cement News

TPI 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 Alliance

04 June 2015, Published under Cement News

Siam 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,...

Roongrote tipped to take SCG helm, Thailand

29 May 2015, Published under Cement News

Siam Cement Group (SCG), Thailand's largest industrial conglomerate, has confirmed Roongrote Rangsiyopash is in line to be its next president, the Bangkok Post reports. The SCG board agreed to maintain Mr Roongrote's position as executive vice-president and end his top position at SCG Paper as well as announce the promotion of two other SCG executives to replace Mr Roongrote. "It is a process that we've been planning for several years, and it's clear the company wants Mr Roongrote to repla...

Siam Cement earnings' preview: robust quarter expected

20 April 2015, Published under Cement News

Thai conglomerate SCC is expected to report a strong net profit of THB10.2bn (US$315m) in the first quarter of 2015, up 21 per cent YoY and 15 per cent QoQ, according to estimations by SCB Securities. “We continue to like SCC for several reasons: 1) it benefits from low oil price via wider spreads and cheaper fuel costs and from a weak baht as a net exporter; 2) 2Q15 profit will continue strong, 3) solid three-year earnings growth of 16 per cent,” the research house stated. First qua...

Fitch affirms SCCC long-term rating, Thailand

09 April 2015, Published under Cement News

Fitch Ratings has affirmed Thailand-based Siam City Cement Public Company Limited's (SCCC) National Long-Term Rating at 'A(tha)', its National Short-Term Rating at 'F1(tha)', and the National Long-Term Rating on its senior unsecured debentures at 'A(tha)'. The Outlook is Stable. Key rating’s drivers Strong market position: SCCC's ratings are underpinned by its market position as Thailand's second-largest cement producer by market share, with a stable market share of 27 per cent. Fitc...

Asia Cement in renewable energy schools project, Thailand

07 April 2015, Published under Cement News

Asia Cement, part of the Italcementi Group, has initiated the "25 Renewable Energy Schools Project" as part of the Thai cement producers corporate social responsibility, environmental and energy efforts. The project involves the installation of 4kW on-grid solar PV rooftops to be used alongside electricity distributed by the Provincial Electricity Authority (PEA) in 25 small and medium- sized schools. They are situated around three cement plants in Phra Phutthabat district located in Sarabu...