Cement News tagged under: Thailand

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Siam City Cement 2Q net profit falls, Thailand

06 August 2012, Published under Cement News

Siam City Cement Plc (SCCC), Thailand's second-largest cement producer, reported a 30.5 per cent drop in 2Q net profit  although sales increased by more than 12 per cent as operating margins were hurt by lower cement prices and higher energy costs. In a filing to the Stock Exchange of Thailand on 2 August, SCCC said its net profit totalled THB809m in the quarter to June compared to THB1.056bn a year before. Net sales, meanwhile, rose 12.2 per cent to THB6.49bn as domestic cement consumption...

Siam Cement plans Indonesian investment

26 July 2012, Published under Cement News

Siam Cement PCL, Thailand's largest conglomerate, has announced plans to invest around THB10bn (US$315m) to build a cement plant in Indonesia, President and Chief Executive Kan Trakulhoon said Wednesday. The planned investment is part of the company's five-year investment budget worth around THB200bn, Fox Business Reports, which is due to be proposed to the company's board for consideration in August, he said.

Siam Cement posts 43% drop in quarterly profit, Thailand

25 July 2012, Published under Cement News

Thai conglomerate Siam Cement posted a 43 per cent fall in quarterly profit due to weak demand and a drop in the value of its petrochemical inventories. During the April-June period, net profit of THB4.28bn (US$135m), down from THB7.49bn a year earlier. The company’s earnings are expected to improve in the second half when demand should improve on the back of rebuilding work as the country's economy recovers from severe floods last year that shut factories at carmakers and disk-drive manu...

Siam City revises 2012 demand forecast upwards

24 July 2012, Published under Cement News

Siam City Cement, part of the Holcim group, has revised upwards its 2012 cement consumption outlook to six per cent due to good economic growth and the expected launch of government flood-prevention projects in the second half. Earlier the company had anticipated growth of five per cent. Chief executive Philippe Arto told the Bangkok Post that the market expanded by 6-8 per cent in the first half of 2012 driven by private sector demand. "The market recovery is starting, although proper...

Fitch affirms Siam City Cement's rating, Thailand

19 July 2012, Published under Cement News

Fitch Ratings (Thailand) Limited has affirmed Siam City Cement Public Company Limited's (SCCC) National Ratings at Long-Term 'A(tha)' and Short-Term 'F1(tha)'. The Outlook is Stable. At the same time, Fitch has affirmed SCCC's senior unsecured debentures at 'A(tha)'. SCCC's ratings reflect its leading position as the second-largest cement producer in Thailand, with strong brands in cement, ready-mix concrete and wood replacement products. This has helped the company to maintain its domesti...

Siam Cement to invest US$6.3bn during 2013-17

19 July 2012, Published under Cement News

Siam Cement of Thailand plans to invest THB200bn (US$6.3bn) over the 2013-17 period, according to President and Chief Executive Kan Trakulhoon. Of this total, more than half is earmarked for investment in the ASEAN region, Mr Trakulhoon said. The five-year investment budget for the 2013-2017 period is expected to be proposed to the company's board for approval in August.

Siam Cement faces 2Q net profit drop

06 July 2012, Published under Cement News

Siam Cement is expected to report a fall in net profit for the second quarter hurt by weak results of its core petrochemical business. Citigroup forecast Siam's net profit to fall 42 per cent to THB4.35bn for the April-June quarter, YoY, according to a Reuters report. "First-half estimated profit should come at 34 per cent of consensus fiscal year forecast, possibly leading to further earnings downgrades and a cap on the share price in the medium term," it said in a report. Citigrou...

Siam Cement to review capex plans, Thailand

04 July 2012, Published under Cement News

Thai conglomerate Siam Cement Group (SCG) is reviewing its THB150bn, five-year investment plan in light of the effects of Europe’s sovereign debt crisis, the Bangkok Post reports. According to Kan Trakulhoon, president and CEO of SCG, the revision reflects weak demand for the company’s products on the global markets. The current plan calls for capital expenditure of THB150bn to be spent between 2012-16, up from the original target of THB100bn. "We are reviewing the five-year investment...

Siam considers Asean acquisitions

11 June 2012, Published under Cement News

Siam Cement PCL is considering acquisitions in the Association of Southeast Asia Nations, with a focus on Vietnam and Indonesia, Chief Executive Kan Trakulhoon said Friday. Between the two countries in focus, Siam Cement is paying more attention to Indonesia given its large population and lower dependence on the export sector, Mr. Kan told reporters. He also said the euro zone's economic crisis won't have a direct impact on the company since it barely sells any products there, but it d...

Siam City Cement upgraded, Thailand

24 May 2012, Published under Cement News

Kasikorn Securities upgraded Siam City Cement Pcl to "outperform" from "neutral", citing a positive earnings outlook for Thailand's second-largest cement maker on rising cement demand and construction activity. "We maintain a positive outlook on the cement business and expect accelerating construction activity during the current quarter to be a key driver for top line growth across the sector," it said. The broker said it expected Siam City Cement to report a 15 per cent net profit...