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Business

SCG revenues down 39% in H1

Louella Desiderio - The Philippine Star
SCG revenues down 39% in H1
SCG said the lower revenues were “mainly from the cement building materials business and exports from Thailand.”
STAR / File

MANILA, Philippines — Revenues of the local unit of Thai conglomerate Siam Cement Group (SCG) declined 39 percent in the first semester from a year ago due to theweak performance of the cement building materials business.

In a statement, SCG said revenues from the Philippines reached P5.34 billion in the January to June period, down 39 percent year-on-year.

SCG said the lower revenues were “mainly from the cement building materials business and exports from Thailand.”

For the second quarter, SCG’s revenues in the Philippines reached P2 billion, a 53 percent reduction year-on-year.

To overcome challenges faced due to the coronavirus disease 2019 pandemic, SCG is making use of digital channels and developing solutions to address customer needs.

Through its e-commerce platform scgshop.com.ph, SCG is able to cater to the demand for products for the home requirements of customers who have turned online for making purchases due to the pandemic.

SCG’s online platform is a one-stop shop offering not just the group’s products, but also other items related to home and living, as well as construction such as electrical, lighting, furniture and even appliances.

Among the new products recently launched by SCG is SmartCrete, which allows convenient mixing of cement by preventing incorrect proportioning and providing enough ready-mix concrete for use anytime.

SCG subsidiary Mariwasa Siam Ceramics Inc., the country’s largest ceramic tile manufacturer, meanwhile, rolled out tile adhesive, a tiling solution that comes in 25 kilogram per bag for five square meter to six square meter of tiling area.

SCG president and chief executive officer Roongrote Rangsiyopash said the group is constantly monitoring the needs of the market and the pandemic to be able to respond accordingly.

“We take a dynamic approach by offering solutions, products and services that better fulfill the needs and capture the untapped market in the wake of growing trends in e-commerce, on-demand food delivery service, and health and wellness,” he said.

SCG, a leading conglomerate in Southeast Asia, is focused on the following businesses: cement-building materials, chemicals and packaging.

Apart from Mariwasa Siam Ceramics, SCG operates in the Philippines through other subsidiaries such as SCG Marketing Philippines Inc., SCG International Philippines Inc. and United Pulp & Paper Co.

SCG

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