Company's investment plans in ASEAN are on track according to CEO
SCG in Vietnam had VND16.06 trillion ($707 million) in total assets in the third quarter of the year, an increase of 15 per cent year-on-year, mainly from its investment in the Prime Group and the acquisition of Batico, according to its quarterly report released on October 31. Third-quarter revenue from its ceramic business was VND3.825 trillion ($174 million), a 5 per cent increase year-on-year.
In the first nine months it reported revenue from sales of VND10.19 trillion ($463 million), 4 per cent growth year-on-year.
In its latest move SCG partnered with Bach Khoa University to renovate the B6 Hall in the Faculty of Civil Engineering, based on the design of the winner of the “Renovate B6 Building with SCG” competition. B6 Hall has now become a landmark of the faculty. SCG products such as SCG Smart board, SCG Smart Wood, and SCG White Cement are displayed at the building.
SCG also arranged a ceremony for the SCG Sharing the Dream scholarship program, granting 400 scholarships to Vietnamese students from Hanoi and seven southern provinces. The flagship CSR program aims at supporting students who show gratitude towards their family to continue their education, chase their dreams, and grow up with better future.
Regarding SCG’s operation in ASEAN (excluding Thailand), revenue from sales in the third quarter saw 11 per cent growth year-on-year, to VND7.779 trillion ($353 million), representing 11 per cent of SCG’s total revenue from sales. In the first nine months revenue from sales in ASEAN (excluding Thailand) totaled VND22.053 trillion ($1.003 billion), growth of 4 per cent year-on-year and representing 10 per cent of SCG’s total revenue from sales.
“The company’s investment plans in ASEAN are on track, including the cement plant in Cambodia, which is now in Phase 2 of production, as well as cement plants in Myanmar and Laos, which are expected to commence operations in 2016 and 2017, respectively,” President and CEO of SCG Kan Trakulhoon said.
SCG, one of the leading conglomerates in the ASEAN region, comprises three core businesses: SCG Cement-Building Materials, SCG Chemicals, and SCG Packaging. In Vietnam, with a total of 22 companies employing approximately 6,900 people, SCG offers a variety of premium products and services.