SCG posts solid growth in H1

May Kunmakara / Khmer Times No Comments Share:
A booming construction sector is fueling SCG’s growth in the Kingdom. KT/Mom Sophon

Siam Cement Group (SCG), Thailand’s largest conglomerate, reported strong growth in its Cambodian operations during the first half of 2018, expanding by more than 19 percent.

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According to a recently released financial report, revenue from sales in Cambodia rose to $202 million during the first six months of the year, due mostly to robust sales of its flagship product, cement.

“Following an increase in the construction of commercial and residential buildings in Phnom Penh, Siem Reap and Kampong Som, as well as Takeo, Kampot and Kampong Cham, the country’s economy is experiencing tremendous growth,” said the report.

Roongrote Rangsiyopash, president and CEO of SCG, said the company has taken key steps to strengthen its core businesses and sustain its Asean expansion. Such steps include leveraging digital technologies to meet customers’ expectations.

“SCG is moving forward to expand its core businesses in the Asean market,” he said.

“One of our prominent projects is Vietnam’s first Petrochemicals Complex, Long Son Petrochemicals Company Limited (LSP), which is steadily progressing after a groundbreaking ceremony attended by the Vietnamese Prime Minister and other high-ranking officials this February,” said Mr Roongrote.

In the first six months of 2018, the Ministry of Land Management, Urban Planning and Construction provided 1,643 construction licenses, amounting to more than 5.3 million square metres.

SCG has been in Cambodia for more than 20 years, operating 6 companies: Kampot Cement, Concrete Roof Cambodia, CPAC Cambodia, CPAC Plank Cambodia, NAWA-CAM, and SCG Trading (Cambodia).

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