Cement News tagged under: Thailand

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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.

KGI Securities confident on Siam Cement 2H earnings, Thailand

20 April 2012, Published under Cement News

KGI Securities expects good earning results from Thailand’s Siam Cement in the second half of 2012. "We anticipate earnings in the second half of 2012 to improve strongly thanks to the world economic recovery that should help lift the global demand for chemical products and allows the chemical spread to increase to more than $500/tonne," the broker said a research note. The broker also added that post-flood reconstructions would be the key driver for the company's net profits in the fi...

SCG Trading targets 30% rise in revenues, Thailand

23 March 2012, Published under Cement News

SCG Trading, a unit of Siam Cement Group, targets annual sales growth of 30 per cent from this year onwards, driven by coal and building-materials business, particularly overseas, The Nation reports. Managing director Kalin Sarasin said the company was accelerating investment and expansion in both coal and building-materials trading in Asia, as they were both fast-growing sectors in the region.

Siam Cement steps up ASEAN investments

12 March 2012, Published under Cement News

Siam Cement Group (SCG), Thailand's largest industrial conglomerate by revenue, is stepping up its plans to build on its cement and building materials activities in Southeast Asia as it eyes new regional investments and acquisitions in the markets of Indonesia, Vietnam and Myanmar. Earlier this week, the company announced plans to construct a 5000tpd cement plant in Indonesia as the manufacturer looks to penetrate the market further. With an investment of US$300m, the cement works will be ...

Siam raises stake in Philippine firm, mulling Myanmar plans

29 February 2012, Published under Cement News

Thailand’s Siam Cement has reached a deal to raise its stake in a listed Philippine building materials firm from 40 per cent to 80 per cent in a deal valued at THB1bn (US$33m). However, the company has declined to name the firm, but it is thought to be Mariwasa Siam Holdings of which the company owns 40 per cent according to its latest annual report. Siam chief executive Kan Trakulhoon declined to confirm. Mr Trakulhoon said it would make a decision by the end of this year on weather i...

Siam Cement to issue bonds in March, Thailand

21 February 2012, Published under Cement News

Siam Cement PCL of Thailand plans to issue up to THB25bn worth of bonds to existing bond holders and the public, Dow Jones News reports. The bonds, worth a four-year maturity, will carry a coupon rate of 4.15 per cent, the company said in a filing to the Securities and Exchange Commission on Monday. The bonds will be open for subscription during 1-9 March 2012 and during 26-30 March 2012, Siam Cement said. Siam Commercial Bank PCL, Bangkok Bank PCL, Kasikornbank PCL, Krung Thai Bank...

Consumption in Thailand to rebound on building reconstructions

13 February 2012, Published under Cement News

President Pramote Techasupatkul said the government should act quickly and accelerate infrastructure projects after suspending some in last year's fourth quarter when severe flooding hit Bangkok. "Consumption in the commercial segment is expected to rebound substantially on reconstruction of buildings and industries after the floods," said Mr Pramote. He said while home repair activity has risen during these past two months, it requires only a small amount of cement. "We expect that de...

Fitch revises Siam Cement's outlook to stable

10 February 2012, Published under Cement News

Fitch Ratings (Thailand) Limited has revised Siam Cement Public Company Limited's (SCC) Outlook to Stable from Positive. The ratings have been affirmed at National Long-term 'A(tha)' and National Short-term 'F1(tha)'. The agency has also affirmed SCC's senior unsecured debenture at 'A(tha)'. In addition, Fitch has assigned SCC's new senior unsecured debentures No.1/2012 due 2016, amounting up to THB25bn, a National Long term 'A(tha)' rating. The proceeds from the new issue will be used to re...

Siam City Cement 2012 growth forecast

06 February 2012, Published under Cement News

Siam City Cement Co (SCCC), Thailand’s second largest cement producer, posted 4Q11 net profit of THB252m, down 55.3 per cent YoY and 70.9 per cent QoQ. The decline is attributed to lower export sales and higher operating costs due to the Thai flooding, extra expenses from deferred tax adjustments of THB291m and extra expenses from reassessment of employees' pension of Bt150m. For 2012, analysts at TISCO Securities expect Siam City Cement’s profit to rise 27 per cent thanks to expected five ...

Siam Cement eyes Myanmar investment

18 January 2012, Published under Cement News

Thailand’s Siam Cement Group (SCG) said it is studying the possibility of investing in a cement plant in Myanmar, company President and CEO, Kan Trakulhon said. Mr Trakulhoon was quoted by the Bangkok Post as saying that SCG has been studying options in the neighbouring country for almost two year years now. "Still, the investment depends on the Myanmar government's investment promotion policies and the policy on limestone mine ownership," Mr Kan said. SCG currently exports cement to Myan...