Displaying items by tag: Thailand

Thailand: Siam Cement Group has appointed Wiroat Rattanachaisit as the Vice President of its Regional Cement Building Materials Business with effect from the start of 2022. He also becomes the Vice President of the group’s Housing Products and Solution Business. Rattanachaisit is currently a country director for the group’s cement business in Indonesia. He holds a bachelor’s degree in business administration from University of the Thai Chamber of Commerce and also attended the Harvard Business School’s Advanced Management Program.

Thailand: Siam Cement Group (SCG) says that a fire at its integrated Kaeng Khoi plant in Saraburi may affect exports on a temporary basis. The cement producer reported a fire at the site on 29 October 2021. The incident took place in part of a cable tunnel near to the control room at the plant. No injuries to staff were noted and the situation was stabilised quickly. The company said that the fire will not affect domestic cement sales as it has sufficient inventory.

UK: The Clean Growth Fund has led a Euro1.19m investment in cement industry decarbonisation software developer Carbon Re. Other investors are Blue Impact Ventures, Cambridge Enterprise Fund and UCL Technology Fund. The supplier says that its deep reinforcement learning AI product can reduce cement plants’ operating costs by Euro1.97 – 5.09/yr and eliminate 20% of Scope 1 emissions. Five pilot installations of its Delta Zero platform are installed at cement plants in the EU, India, Thailand, Turkey and Vietnam.

CEO Sherif Elsayed-Ali said “Our mission is to reduce global emissions at the gigatonne scale, starting with the cement industry, and to become the leading global AI company to deliver industrial decarbonisation. Carbon Re’s AI technology provides heavy industry with an effective solution to address their critical challenges of energy costs and emissions reduction.” He added “The road to a zero-carbon world will be long, but with the support of the Clean Growth Fund and our other investors, our AI-products and solutions will evolve to accelerate the transition of energy intensive industries.”

Thailand: Siam Cement Group (SCG) has received approval for the issuance and offering of debentures up to US$2.97bn in its subsidiary SCG Chemicals. Reuters News has reported that the group is offering the shares under a medium-term note programme.

Thailand: SCG Packaging has taken a US$148m four-year loan from Bank Ayudhya. The loan is subject to environmental, social and governance (ESG) criteria and key performance indicators. The loan’s interest rate is tied to the company's sustainability performance targets, namely reducing greenhouse gas emissions, managing water resources and increasing the sales portion of its Green Choice label products and services. Bank Ayudhy will serve as sustainability coordinator, with the ability to adjust it down annually if sustainability goals are met.

Thailand: SCG International has chosen US-based Black & Veatch to help with the acceleration of its electric vehicle uptake across hundred of sites spanning its operations, including cement. The US Trade and Development Agency has given the group a grant towards three logistics fleet electrification pilot projects.

Parent company Siam Cement Group (SCG)’s managing director Abhijit Datta said "I would like to express our sincere gratitude to USTDA as well as Black & Veatch for their support, guidance and efforts that have made this project possible."

Thailand: Siam Cement Group (SCG) recorded first-half consolidated sales of US$7.66bn in 2021, up by 27% year-on-year from US$6.05bn in the first half of 2020. The group’s profit for the period more than doubled to US$1.16bn from US$500m. This was despite a 21% rise in its cost of sale to US$5.79bn from US$4.79bn. The company ends the period with total current liabilities of US$5.38bn, up by 11% half-on-half from US$4.84bn at 31 December 2021.

Thailand: Siam Cement Group (SCG) plans to raise US$747m through the issuance of fixed-rate debentures. Dow Jones Institutional News has reported that SCG will pay a 2.7% coupon on the debentures, which will be due in 2025. The group will use the proceeds to replace existing debentures when they expire in October 2021.

Thailand: Siam City Cement says that coronavirus-related public health measures reduced demand for cement towards the end of the second quarter of 2021. The group noted that the domestic market for cement ‘softened’ despite strong sales overseas in Vietnam, Sri Lanka and Bangladesh. Its overall net sales fell by 3.6% year-on-year to US$616m in the first half of 2021 from US$639m in the same period in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 4.4% to US$142m from US$149m. It also reported reduced sales from its ready-mixed concrete and aggregate business lines due to the pandemic’s effects on construction markets and the related closures of construction worker camps.

Thailand: Siam Cement Group (SCG) says that government-mandated coronavirus restrictions have reduced local cement demand by 20%. Roongrote Rangsiyopash, the president and chief executive of SCG, said that the construction sector expected a slowdown due to the closure of construction worker camps, according to the Bangkok Post newspaper.

The group’s building materials business sales rose by 4% year-on-year to US$2.81bn in the first half of 2021. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 3% to US$399m. Overall, the group’s sales and earnings increased significantly across all business lines.