Logo of Phnom Penh Post newspaper Phnom Penh Post - SCG logs growth in Cambodia

SCG logs growth in Cambodia

Content image - Phnom Penh Post
SCG in Cambodia said its total assets reached $409 million at the end of last year. SCG NEWS CHANNEL

SCG logs growth in Cambodia

Thai construction materials producer Siam Cement Group (SCG) reported a dip in revenue from sales in the fourth quarter of last year, marred by the spread of Covid-19 and seasonal flooding.

According to the company’s unaudited operating results for 2020 received by The Post on February 3, SCG’s total consolidated assets amounted to $24.970 billion, of which $9.451 billion or 38 per cent were in ASEAN outside of Thailand.

Revenue from sales from non-Thai ASEAN operations logged an 11 per cent year-on-year drop to $838 million, accounting for 26 per cent of total revenue from sales. This, it said, “includes sales from both local operation in each ASEAN market and imports from Thai operations”.

In its fourth quarter report, SCG in Cambodia said its total assets rose 18 per cent year-on-year to $409 million.

The company reported $59.7 million in revenue from sales in the Cambodian market for the fourth quarter, down three per cent year-on-year, which it said includes sales of all operations – mainly from its cements manufacturing business and building materials. That figure was $252.3 million for the entire year 2020.

“In this quarter, Cambodia’s economy had been hit by the worst flooding in decades and the first community outbreak of Covid-19. The flooding caused many roads to be damaged and disconnected, the logistics of cement and building materials were severely affected.

“As a result, construction in flooded areas had to stop. Moreover, with the [first case] of local transmission, most Phnom Penh projects had to stop construction.

“These had a direct impact on Cambodia’s construction and real estate sectors. However, with the decrease in demand in the residential, commercial and industrial segments, the government is attempting to boost the economy by investing more in infrastructure.”

SCG president and CEO Roongrote Rangsiyopash said operating performance remained resilient last year amid challenges posed by the Covid-19 pandemic, due to the “collective effort” of company staff, who he said “placed great priority on safety and business continuity”.

He said: “The team adopted new strategies and introduced a series of agile business approaches from modifying business plans, altering sales proportions and developing the Active Omni-Channel to meet changing customer behaviours.

“With proactive measures and determination from all of SCG’s people, I believe SCG will once again overcome the uncertainties raised by the new wave of the Covid-19 pandemic.”


  • Ice cream, noodles flagged over carcinogen

    The General Department of Customs and Excise of Cambodia (GDCE) has identified three types of instant noodles and ice cream trademarks originating from Thailand, Vietnam and France that are suspected to contain ethylene oxide, which poses a cancer risk to consumers. The general department has

  • Exclusive interview with Josep Borrell Fontelles, High Representative of the EU

    CAMBODIA is hosting the 55th ASEAN Foreign Ministers’ Meeting (AMM) and Related Meetings this week with top officials from the US, China, and Russia and other countries in the region slated to attend and to meet with face-to-face with their counterparts on the sidelines. In

  • Rise in Thai air routes to Siem Reap fuels travel hopes

    Local tourism industry players are eager for regional airline Bangkok Airways Pcl’s resumption of direct flight services between the Thai capital and Siem Reap town on August 1 – home of Cambodia’s awe-inspiring Angkor Archaeological Park – which is expected to boost the growth rate of

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’