Displaying items by tag: Siam Cement
Siam Cement Group announces joint venture with BIMobject
14 January 2020Thailand: Siam Cement Group’s concrete and aggregates division SCC Concrete Products and Aggregates (CPAC) has entered into a joint venture agreement with Swedish digitisation specialist BIMobject for the formation of BIMobject Thailand Co., Ltd. (BIMobject TH) on a 51:49 basis in favour of CPAC. This will provide building information modelling (BIM) - a service platform for use in conceptual design, material selection, and construction simulation of customers’ projects. Siam Cement Group president and CEO Roongrote Rangsiyopash said, “This is in line with SCC’s strategic plan to extend its breadth of innovative construction solutions.” The joint venture will have US$170,000 registered capital.
Siam Cement Group plans multi-industry innovation hub with Chinese Academy of Sciences
06 November 2019Thailand: Siam Cement Group (SCG) has announced its involvement in the establishment of an innovation hub at the National Science and Development Agency in Pathum Thai. The Bangkok Post has reported that the development will cost US$14.3m. SCG’s partner for the project is the Chinese Academy of Sciences, a 100-site, 70,000-member body established under the Chinese Government’s Belt and Road foreign investment Initiative. When operational, it will market new products, initially consisting of petrochemicals, energy storage and batteries and smart cities.
High-value-added products and services made up 39% of SCG’s total sales in 2018 of US$15.7bn (US$6.11). It spent US$0.15bn on research and innovation over the period, around 1.0% of total revenue.
Siam Cement Group shares third quarter 2019 results
28 October 2019Thailand: Siam Cement Group (SCG) recorded a net profit after tax of US$200m in the three months to the 30 September 2019, down by 48% year-on-year from US$388m. It revenue over the period stood at US$3.65bn, down by 9.9% from US$4.06bn in the corresponding period of 2018. SCS’s cement-building materials section fell less dramatically, with nine-month profit attributable to owners down by 6.3% year-on-year to US$0.16m from US$0.15m, and a decrease in sales of 1.7% to US$4.54m from US$4.62m in the corresponding period of 2018.
SCG, Thailand’s largest industrial conglomerate, is planning an initial public offering (IPO) for its packaging subsidiary SCG Packaging. Reuters has reported that proceeds deriving from the listing would ‘be used for domestic and international business expansion.’ The company will remain the major shareholder at 70%.
Thailand: Siam Cement Group (SCG) is promoting a blockchain electronic accounting method for procurement and payment with its suppliers and partners to improve efficiency. Its Procure to Pay platform was started in 2018 and it has 240 suppliers using it at present, according to the Bangkok Post newspaper. The company aims to reach 2400 suppliers by 2020.
Thammasak Sethaudom, vice-president for finance and investment at SCG, said that the system had helped suppliers reduce processing times by 50% from 70 minutes to 35 minutes per purchase order. The platform speeds up the time required to issue invoices. The system also helps SCG’s partners to track transactions in real time.
Procure to Pay was developed with Digital Ventures, the corporate venture capital arm of Siam Commercial Bank. SCG has invested over US$0.3m on the project so far. Expansion to SCG’s subsidiaries in Indonesia, Myanmar, Laos and Vietnam is being considered.
SCG unfazed by cement import tariff in the Philippines
12 February 2019Philippines: SCG Philippines Country Director Anuvat Chalermchai says he is unconcerned about the country’s new tariff on imported cement because the company’s imports are ‘very small.’ The subsidiary of the Thai conglomerate imports 0.2 – 0.3Mt/yr of cement, according to Business World. It operates seven companies in the Philippines: United Pulp and Paper Company, SCG Trading Philippines, Green Siam Resources, Green Alternative Technology Specialist, SCG Marketing Philippines and Mariwasa Siam Ceramics.
Thammasak Sethaudom appointed as Vice President-Finance & Investment at Siam Cement Group
25 July 2018Thailand: Siam Cement Group has appointed Thammasak Sethaudom as its Vice President-Finance & Investment. He succeeds Chaovalit Ekabut. The appointment will take affect from 1 September 2018.
Thailand: Siam Cement Group’s sales revenue from its cement business rose by 4% year-on-year to US$2.74bn in the first half of 2018. Its profit grew by 8% to US$125m and its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 4% to US$355m. The cement producer said that the country’s demand for Ordinary Portland Cement (OPC) rose by 2% year-on-year in the second quarter of 2018 due to an increase in demand from the public sector. Overall the company’s sales revenue grew in the first half of 2018 but its profit and earnings fell due to currency variations and increasing cost of input chemicals.
Thai king takes control of stake in Siam Cement
18 June 2018Thailand: King Maha Vajiralongkorn has taken personal ownership of royal assets including a stake in Siam Cement. In March 2018 stock exchange data showed that the king acquired around a US$150m stake in the cement and chemical producer, according to Reuters. The Crown Property Bureau has transferred ownership of the assets worth at least US$30bn to the monarch.
Switzerland: Clothing company Elephbo is selling backpacks made from used Thai cement bags for as much as Euro120. The products have caused amusement in Thailand on social media, according to the Independent newspaper. Used cement bags from Siam Cement and Insee Diamond brands are being used with leather by the Swiss company to make a variety of fashion products including wallets, caps and trainers.
Siam Cement plans to broaden products and services in Indonesia
27 December 2017Indonesia: Thailand’s Siam Cement Group (SCG) plans to diversify its products and services in 2018. Country director Nantapong Chantrakul made the comments, according to the Nation newspaper. SCG has supplied construction materials for several state-run infrastructure projects, including state-owned construction firm PT Wijaya Karya, materials for the construction of toll roads in South Sumatra and Jakabaring Stadium and a 2018 Asian Games venue in Palembang.