Cement News tagged under: Thailand

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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...

Siam Cement Group receives Gold LEED Rating

22 May 2012, Published under Cement News

Siam Cement Group (SCG), has received a gold rating in Leadership in Energy and Environmental Design for Existing Building: Operations & Maintenance for its corporate headquarters. The Leadership in Energy and Environmental Design is a certification issued by the US Green Building Council (USGBC), the foremost rating system for sustainable building and construction. SCG won the Thai Energy Award in the retrofitted building category, and was also the first runner-up in the same category...

Stronger sales boost Siam City 1Q net profit, Thailand

08 May 2012, Published under Cement News

Siam City Cement Plc (SCCC) reported a 14.6% YoY increase in net profit, up to THB1.28bn for the first quarter on the back of strong domestic cement consumption, the Bangkok Post reports. Thailand's second-largest cement manufacturer saw net sales rise 12.4% from the year before to THB6.99bn, the company said in a statement. "Cement consumption increased in the first quarter, driven by sizeable growth from both public and private construction," it said. "However, cement pricing did not ref...

Thailand: SCCC records B1.28bn Q1 net profit

04 May 2012, Published under Cement News

Siam City Cement Plc (SCCC) reported a 14.6% YoY increase of net profit yesterday, up to THB1.28bn (US$41.3m) for the first quarter on the back of strong domestic cement consumption. Thailand's second-largest cement manufacturer saw net sales rise 12.4% from the year before to THB6.99bn, it said in a statement. "Cement consumption increased in the first quarter, driven by sizeable growth from both public and private construction," it said. "However, cement pricing did not reflect rising ...

Siam Cement 1Q net profit drops

26 April 2012, Published under Cement News

  Siam Cement said Wednesday its first quarter net profit fell 35% from a year earlier mainly because higher cost and lower income from affiliates. The company posted a net profit of THB5.97bn (US$192.6m), compared with THB9.21bn a year earlier, according to a filing with the Stock Exchange of Thailand.