Logo of Phnom Penh Post newspaper Phnom Penh Post - SCG Q3 Kingdom sales strong

SCG Q3 Kingdom sales strong

SCG Q3 Kingdom sales strong

Thailand's largest conglomerate Siam Cement Group (SCG) last week reported strong sales in the Cambodian market in the third quarter of this year, citing robust economic performance.

The firm’s third-quarter revenue from sales in the Kingdom amounted to $111 million, which represents a 14 per cent year-on-year increase, buoyed mainly from its cement and building materials business, its quarterly financial results report said.

The report noted that the firm’s revenue from sales in Cambodia in the first nine months of this year amounted to $337 million.

SCG president and CEO Roongrote Rangsiyopash said: “Cambodia’s economy achieved robust growth during this year’s third quarter. The inflow of foreign direct investment, especially from China, is stimulating in the whole construction industry.

“There is still strong demand for cement and construction materials in the capital and emerging cities such as Sihanoukville, Poipet and Bavet.”

VTrust Appraisal Co Ltd research director Hoem Seiha, research director of VTrust Appraisal said the construction section boom has created a lot of demand for construction materials in recent years.

“We see that our construction sector is mushrooming everywhere now, especially in Phnom Penh where there are a lot of condos, apartments and residential complexes that generate a lot of demand in the construction material market,” Seiha said.

A recent report from the Ministry of Land Management, Urban Planning and Construction said investment in the construction sector soared 34.7 per cent year-on-year in the first nine months.

It reached $6.5 billion – in 2,541 projects – from $4.8 billion compared to the same period last year.

The report noted that from 2000 to the end of September this year, the ministry approved 46,991 construction projects – which cover more than 126 million square metres – with a total investment of more than $48 billion.

MOST VIEWED

  • China and India closer to ‘biggest’ showdown

    Indian and Chinese troops remained engaged in an eyeball-to-eyeball situation in several disputed areas along the Line of Actual Control (LAC) in Eastern Ladakh on Thursday, signalling that the confrontation could become the biggest military face-off after the Doklam episode in 2017. Ladakh is a union

  • Central bank to shun small US banknotes

    The National Bank of Cambodia (NBC) is considering not accepting smaller denominated US dollar banknotes – $1, $2 and $5 – from banks and microfinance institutions (MFIs) which it said are flooding its stockpile as the demand for those notes is low. While some banking insiders welcomed the move as

  • PM lauded in Covid-19 fight

    World Health Organisation (WHO) director-general Tedros Adhanom Ghebreyesus sent a letter to Prime Minister Hun Sen thanking him for following the WHO’s guidance and commending Cambodia’s efforts in the fight against Covid-19. In his letter made public by the Ministry of Foreign Affairs

  • Workers return, hope for salaries

    More than 600 factory workers in the capital’s Chaom Chao commune in Por Sen Chey district returned to work after the factory’s owner promised to pay their salaries in instalments until the middle of next month. On Tuesday and Wednesday, more than 600 workers gathered

  • Women detained for forcing kids to beg

    Two women were sent to Phnom Penh Municipal Court on Thursday for forcing six children to beg for money for several months at the Chhouk Meas market in Krang Thnong commune in the capital’s Sen Sok district. Phnom Penh Department of Anti-human Trafficking and

  • Vietnamese tents baffle border guards

    Kandal and Takeo provincial authorities bordering Vietnam have expressed concern after witnessing irregularities by the Vietnamese authorities, including the deployment of soldiers to erect 114 camps just 30m from the border. Takeo provincial governor Ouch Phea told The Post on Thursday that Vietnamese soldiers had erected 83