Thai conglomerate Siam Cement Group (SCG) said its Philippine operations showed strong sales in the fourth quarter of 2011.
Kan Trakulhoon, SCG president and CEO, said SCG and its subsidiaries posted 22 per cent increase in revenues from sales to $12.286 million for fiscal year 2011, mainly due to higher product prices.
In the Philippines, SCG’s fourth quarter operating results showed revenues from sales to have reached $22.367 million, leading to a total of $98.067 million in revenues from sales, for fiscal year 2011.
SCG considers the Philippines as a key market. To date, total assets of SCG in the country amount to $173.133 million.
Business prospects for 2012 are “promising” as SCG plans to invest heavily in high-value added (HVA) products and services in the Philippines.
SCG is increasingly focusing on the Philippine market as a source of increased and sustainable growth. The company has already made available its green building products such as the COTTO Eco Rockette Series, tiles made from as much as 60 per cent recycled material; and the SCG SmartBoard, which is a fiber-cement board resistant to termites and fungus.
SCG has several companies in the Philippines such as Mariwasa Siam Ceramics, United Pulp & Paper, CPAC Monier Philippines, SCG Trading Philippines, Green Siam Resources, Green Alternative Technology Specialist and SCG Marketing Inc.
Eye on Asean
SCG is continuing to make investments in innovations to achieve its vision to become an Asean sustainable business leader.
“To demonstrate SCG’s confidence in the region and specifically the emerging markets, the company has launched an Asean-wide campaign designed to strengthen confidence among foreign investors and businesses,” said Trakulhoon.
In 2011, SCG invested approximately $37.033 million in research and development.
Investments in R&D have been heavily focused on providing solutions for disaster risk management and the promotion of sustainability, advancements most relevant in markets such as the Philippines that are prone to natural calamities.
In the fourth quarter of 2011, SCG posted a 15 per cent jump in revenue from sales amounting to $2.931 billion, largely from continued high product prices from most business units. The profit for the given period decreased 81 per cent year-on-year to $106.7 million, as the flood disruptions resulted to lower demand and higher logistics expenses.
