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

SCG posts growth in Cambodia

Content image - Phnom Penh Post
Cambodian labourers work on a high-rise building construction site in Phnom Penh. Heng Chivoan

SCG posts growth in Cambodia

Thailand construction materials producer Siam Cement Group (SCG) on Monday reported positive growth in the Cambodian market in the first half of the year.

According to the company’s Q2/2020 report, SCG in Cambodia owned $382 million worth of total assets, a year-on-year increase of two per cent.

For the period of H1/2020, SCG Cambodia reported sales revenue was $129.39 million, a 0.2 per cent increase.

The company also reported Q2/2020 revenue from sales at $62.48 million, including sales from its cement manufacturing and building materials businesses, which decreased six per cent.

SCG has stated it plans to ensure successful company operations and production, while cognisant of the Covid-19 pandemic.

That means putting full-blown business management into practice while protecting the health and wellbeing of workers.

The company stated in a recent report: “It is our utmost priority during the Covid-19 pandemic to create a new norm of work called ‘Hybrid Workplace’ that allows employees to choose to work on-site, from home or anywhere the company considers safe.”

The company reported the physical distancing guidelines have been applied in Cambodia and allow for greater flexibility and convenience for employees.

“Cambodia’s economy continues to be impacted by the outbreak and faces a dramatic economic slowdown. However, to capture market opportunity we will provide offerings that meet the needs of customers during the pandemic,” the company report said.

“While SCG isn’t in an industry severely affected like tourism or airlines, the company has constantly monitored and assessed the situation to stay on top in an environment of uncertainties,” said SCG president and CEO Roongrote Rangsiyopash.

Cambodia imported 879,394 tonnes of building materials worth $317.74 million in Q1 to help stabilise the industry in anticipation of the impact caused by the pandemic, according to data from the Ministry of Commerce.

Broken down by category, the Kingdom imported 100,440 tonnes of steel worth $66.83 million, cement – 384,609 tonnes/$24.57 million – and construction equipment – 394,346 tonnes/ $226.34 million – according to data from the Department of Planning Statistics and Trade Information under the commerce ministry’s General Department of Domestic Trade shows.

The Kingdom imported 4,667,077 tonnes of building materials worth $1.70 billion last year, up from 3,181,142 tonnes worth $1.07 billion in 2018.

MOST VIEWED

  • Tourists urged not to skip trip

    The Ministry of Tourism has called on international tourists not to cancel trips to Cambodia, but urged them to adhere to several dos and don’ts when arriving in the Kingdom during the Covid-19 pandemic. The ministry released an eight-point instruction manual on Wednesday published

  • The taxman cometh – Cambodia’s capital gains tax casts the net on individual taxpayers

    In a country where only limited personal income tax existed, the new taxation law beginning January 1, 2021, will make taxpayers out of Cambodians, whether they are ready for it or not About two years ago, a little known amendment was made to Article 7 of the Law

  • Cambodian-American gets Star Trek treatment

    Kevin Ung, a Cambodian-American whose family escaped genocide during the Khmer Rouge’s reign of terror, was recently selected from thousands of applicants to participate in the Television Academy Foundation’s inaugural 2020 Star Trek Command Training Programme, a course intended to give hands-on filmmaking experience

  • Cambodia seeks to be transport hub

    Cambodia is working on several fronts to modernise its transport infrastructure and services, concentrating on opening new international gates to relieve and balance traffic congestion at its borders, Minister of Public Works and Transport Sun Chanthol said on Thursday. This is part of the Kingdom’

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • Deminers unearth ancient lion statue

    Cambodia Mine Action Centre (CMAC) director-general Heng Ratana told The Post on Tuesday that a statue of a lion was found by mine clearance experts while they were digging for a development project. It was sent to the Ministry of Culture and Fine Arts last