DEMAND FOR CEMENT IN ASEAN ON THE RISE
Thailand’s Siam Cement Group (SCG) expects the cyclical upturn of the petrochemical industry and the robust growth in the construction industry to sustain the demand for cement in the Asean region.
That robust growth has been reflected in the 57 percent surge in SCG’s overall profit of P19 billion in the third quarter of the year, the company said in a press statement.
In the Philippines however, SCG posted a slower growth rate in revenues of 6 percent to P1.95 billion for the same period. The company’s total assets here were valued at P9.8 billion.
According to SCG, the Philippine market has not shown any significant signs of recovery “due to more rain fall compared to the previous year coupled with the fact that government infrastructure projects are in the process of being carried out.” It added that investments by the private sector have also slowed down.
SCG, one of the leading conglomerates in the Asean region, has three core businesses namely cement and building materials; chemicals; and packaging. It began business operation in the Philippines in 1993 and now has seven subsidiaries with 1,100 employees.
Available products here include roofing products, fiber cement board, fiber-cement wood substitute, thermal and acoustic insulation under the brand SCG as well as wall and floor ceramic tiles, sanitary ware and fittings, bathroom fixtures under the brands COTTO and Mariwasa.