Siam Cement has posted a 43% decline in Q2 profits- April-June net profit of 4.28 billion baht (US$135 mln), down from 7.49 billion baht from a year earlier due to weak demand and a drop in the value of its petrochemical inventories. Being Thailand's top industrial conglomerate, Siam Cement is a barometer for the country's economy. As per Reuters, it plans to diversify further into ASEAN region's fast-growing markets to reduce its exposure to the domestic economy. For its ASEAN business excluding Thailand, Siam Cement posted a 50% rise in Q2 sales, due to higher income from its cement operation in Indonesia and building material business in the Philippines. Valued at US$11.9 bln, the company plans to invest 200 bln baht (US$6.29 bln) in the next five years, with over 100 bln baht earmarked for Southeast Asian countries.
26-Jul-12 
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