Asia Money’s Best Thai Firm & Best Executive goes to Siam Cement on ASEAN expansion plans

Asia Money, just reported that Thailand’s Siam Cement Group, have won the magazine’s “Best Thai Firm” award, based on its ASEAN’s expansion plan. The firm top executive, also received the best Thai executive award. In the first quarter of 2013, Reuters reported, Siam Cement, the region’s second-largest cement maker, has set a $900 million budget to build new cement plants in Indonesia, Myanmar and Cambodia in 2013-2015, Chief Executive Kan Trakulhoon told a news conference. The company is expected to push up capital expenditure by 40 percent in the next 12 months, the fourth-highest rise among 37 top construction material companies in Asia Pacific, according to StarMine SmartEstimates, which weighs analysts’ accuracy. The top three are Indonesia’s PT Indocement Tunggal Prakarsa (INTP.JK), China’s Guangdong Tapai 002233.SZ and Thailand’s No. 3 cement maker TPI Polene Pcl TPIP.BK. “After 2015, we may raise the budget to $1.5 billion to expand our cement capacities,” Kan said, adding Myanmar’s cement demand would be the highest among the 10 states of the Association of Southeast Asian Nations (ASEAN) with potential growth of 20 percent this year, from a low base. ASEAN is gearing up for closer economic integration from the end of 2015. Cement demand in Thailand and Indonesia is expected to grow 10 percent, he said, adding Indonesia’s low consumption per capita would provide higher growth potential than the home market. Siam Cement plans expenditure of about 40-50 billion baht ($1.4-1.7 billion) this year as it is eager to pursue its strategy of ASEAN expansion in its existing key businesses — cement, paper and petrochemicals.  (Source)

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