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SCG reports P5.856B H1 net profit

11:14 a.m. September 4, 2024

SCG recently announced its operating results for Q2/2024, reporting a surge in its second-quarter profit, buoyed by economic upturns in Vietnam and Indonesia. 

The company is implementing strategies to counter domestic economic headwinds and global uncertainties, including cost-cutting measures, AI integration, and a push into low-carbon cement.

 Thammasak Sethaudom, SCG President and CEO, revealed that total revenue for Q2 reached P202.456 billion (US$ 3.542 billion), a three percent quarter-on-quarter increase. 

Thammasak Sethaudom, SCG President and CEO

Net profit surged by 53 percent to P5.856 billion (US$ 102 million) during the same period.

 For the first half of the year, SCG generated a total revenue of P398.707 billion (US$ 6.976 billion), nearly matching the previous year’s figures. 

The company’s revenue streams were diversified across its business units, with SCG Chemicals contributing the most significant portion at 39 percent.

 Despite facing headwinds such as the petrochemical downturn, intense competition, and a sluggish domestic economy, SCG has managed to sustain its growth trajectory through a series of strategic initiatives.

 To mitigate rising energy costs, the company has boosted alternative fuel use in its cement operations, achieving a 47% utilization rate in Thailand. SCG also focuses on high-growth segments like solar energy solutions and has invested in technology to optimize its supply chain and distribution network.

 Furthermore, the company has leveraged artificial intelligence to enhance operational efficiency by tailoring its product offerings to meet customer needs, such as CPAC’s compact concrete mixer trucks designed for urban construction.

 SCG had robust sales in the first half of 2024, with new products and green initiatives contributing significantly to its overall performance. High-value-added products and services accounted for 39 percent of total sales, while environmentally friendly products under the SCG Green Choice brand made up 54 percent. The company also saw strong growth in its overseas operations, with 44 percent of total revenue generated outside Thailand.

 By the second quarter, SCG had a strong financial performance, driven by robust economic recovery in Vietnam and Indonesia. However, the company cautioned that the overall economic landscape remains challenging, particularly in Thailand, where recovery has been slower.

 To navigate these conditions, SCG has built up a substantial cash reserve of 124,616 Million PHP (US$ 2,180 million) and focuses on innovative solutions to meet customer needs. The company is also capitalizing on infrastructure development in Indonesia and Vietnam, where government spending is on the rise.

 SCG is ramping up its global presence and product offerings. The company is aggressively promoting its Low Carbon Cement, with exports to the US surpassing 1 million tons. Expansion into Vietnam and Australia is underway. In addition to cement, SCG is diversifying its portfolio. Its distribution arm, SCG Distribution and Retail, is expanding its retail footprint in ASEAN, with Mitra10 leading the charge. SCG Smart Living is introducing new landscape materials and HVAC systems.

 The company is also making significant strides in the construction materials sector, with a focus on high-value products and expanding into new markets like India. SCG Chemicals is recovering from plant disruptions but faces industry challenges. To mitigate risks, the company is investing in green innovations and plastic recycling. The upcoming Long Son Petrochemicals project is a key growth driver.

 SCG Packaging is expanding its capacity to meet rising demand, especially in tourism and services. The company is also venturing into medical supplies and labware. SCG Cleanergy is focusing on solar energy solutions and energy storage.

 Despite economic challenges, SCG’s ASEAN operations have shown strong growth, driven by the recovery in Vietnam. The company continues to invest in research and development, with a focus on sustainability and innovation.

 SCG’s commitment to the local market is evident through initiatives like the NATCON-CONEX 2024 exhibition and dealer appreciation programs. The company is poised to capitalize on growth opportunities in the ASEAN region and beyond.

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TCL shines at 61st Anvil Awards, securing 4 major honors

3:05 p.m. January 30, 2026

TCL Electronics, the Triple Global Top 1 TV Brand, a leading force in consumer electronics, and the No.1 ranking in global fresh air AC sales, has achieved four recognitions at the recently concluded 61st Anvil Awards Gabi ng Parangal held last January 28 at Solaire Resort, North Quezon City.

Marking a historic milestone, TCL secured its first-ever Anvil trophies, officially placing the brand among the country’s top communicators and demonstrating its excellence in press relations, marketing, and technology.

The Anvil Awards received by TCL highlights how the brand combines innovation, social impact, and strategic communication to deliver meaningful results. The TCL-TESDA Air Conditioning Training Program, which earned top marks in both Good Governance and Government Relations got Gold and Silver awards, the TCL x Olympic Basketball Project, which gained recognition in CSR bagging a Silver award and finally the TCL FreshIN 3.0 Campaign which won in Marketing and Brand Communication got Silver award.

We are beyond honored to be recognized by the PRSP. Bringing home not just one, but four Anvil awards is a monumental achievement for us. We are absolutely grateful, yet deeply humbled to be among this year’s top-tier honorees. These awards inspire us to continue pushing boundaries, to innovate boldly, and to deliver initiatives that make a meaningful impact on our customers and communities,” TCL Brand Manager Joseph Cerntichez shares.

The 61st Anvil Awards recognizes those who go beyond the conventional, celebrating bold leadership, creative brilliance, and impactful results for communities and brands alike. As one of the most respected programs in the Philippine communications industry, the Anvil Awards, organized annually by the Public Relations Society of the Philippines, honors outstanding public relations tools, programs, and campaigns that demonstrate strategic insight, creativity, and measurable impact. Winners are carefully selected by a distinguished, multi-sectoral jury of communication professionals, academics, business leaders, and industry representatives, ensuring a rigorous and credible evaluation process.

Headlining TCL’s historic debut at the Anvil Awards is a Gold trophy in the Public Relations Program for Corporate Responsibility and Good Governance. This prestigious award honors the TCL-TESDA Training Center, a landmark initiative that seamlessly integrates social impact with brand leadership. More than just a facility, this fully equipped hub allows students to master advanced climate control technology through direct mentorship from TCL experts. By pioneering a ‘structured enrollment-to-employment’ pathway, TCL has created a sustainable solution to the industry’s skills gap—transforming graduates into certified professionals within its own service network. This award-winning program stands as a masterclass in nation-building, reflecting TCL’s enduring commitment to the Filipino workforce. TCL-TESDA Air Conditioning Training Program also got a Silver award for Public Relations Program Government Relations category.

TCL’s commitment to corporate social responsibility and good governance was once again honored with a Silver Anvil for the TCL Basketball Camp, a project that perfectly embodies the brand’s ‘Inspire Greatness’ mission. Located in the bustling heart of Manila, the camp provided a platform for young athletes to hone their skills and chase their dreams. The campaign’s success across Tech, Education, and Sports media highlights TCL’s unique ability to empower the Filipino youth through multifaceted engagement. As the world looks toward the World Olympics, this initiative stands as a testament to TCL’s dedication to fostering the next generation of champions.

TCL’s FreshIN 3.0 Campaign took home the Silver Anvil for its brilliant execution of a consumer-centric marketing strategy. Recognized in the ‘Marketing and Brand Communication’ category, the program stood out for its seamless integration of experiential touchpoints and multi-channel outreach. By transforming traditional PR into an interactive journey for the public, TCL didn’t just market a product—it built a lasting brand connection, proving its mastery in the art of modern storytelling and external engagement.

Beyond the impressive specs of the FreshIN 3.0 AC, the campaign’s success was driven by the TCL Cool Truck, which brought superior cooling directly to high-traffic areas. By integrating a skills-building partnership with TESDA, TCL showcased a holistic brand philosophy: delivering top-tier appliances while empowering the next generation of Filipino professionals. The result was a massive surge in brand sentiment and a reinforced standing as an industry innovator.

Marking a landmark achievement in its Philippine journey, TCL has solidified its standing as a leader in electronics and communications. These maiden ANVIL honors are a testament to a brand that refuses to settle, successfully merging technical brilliance with the art of storytelling to define the future of the industry

TCL’s growth is driven by a ‘trailblazer mindset’ under the leadership of TCL Philippines CEO Peter Chen. The brand has outlined a strategic roadmap centered on technical leadership and brand elevation. This directive aims to systematically upgrade TCL’s brand value through collaborative industry progress and the continuous pursuit of cutting-edge consumer experiences.

Looking ahead, TCL is set to roll out several key initiatives in the coming week. The mission remains unchanged, Inspire Greatness upholding the highest standards of quality and service, ensuring that the brand will consistently deliver world-class experiences to their loyal customers.

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Rep. Atayde: No ghost projects in QC’s first district

3:30 p.m. October 27, 2025

Quezon City First District Representative Juan Carlos “Arjo” Atayde reiterated that there are no “ghost projects” in his district, following a personal inspection of seven flood control and drainage projects in his district.

“There are no ghost projects with us. There’s no ghost in District One. There’s no basis for claims that these exists. Maybe there’s just a need for proper coordination so information about the projects is accurate,” Atayde said after visiting sites in Barangay Bahay Toro, Del Monte, Project 6, and San Antonio.

Atayde’s visit confirmed findings from the Department of Public Works and Highways (DPWH) Quezon City 1st District Engineering Office, which stated in a September 19 letter that “all projects are verifiable on site,” referring to the seven projects questioned due to alleged lack of coordinates.

According to the DPWH, out of 66 alleged ghost projects reported in the media, only seven were located in Atayde’s district, where all of them were found to be completed or ongoing, with proper documentation, correct coordinates, and photographic evidence.

Verified projects included four flood control structures along Culiat Creek and Dario Creek in Barangay Bahay Toro, rehabilitation of Drainage Road 3 in Project 6, the West Riverside Pumping Station in Barangay Del Monte, and a flood control structure along San Francisco River in Barangay San Antonio.

Atayde said five of the seven projects were completed, while two were suspended due to pending issues.

He also visited two additional flood control projects to assess their status – one completed along Dario Creek and one suspended along Mariblo Creek.

Atayde assured to his constituents that public funds were used properly and allegations of ghost projects are “baseless”.

“The projects are not ghosts – they can be seen, touched, and are beneficial. It looks like Halloween came early for some people,” Atayde said.
He also called on those who accused him of benefiting from these projects to verify their information first.

Atayde emphasized he couldn’t benefit from these DPWH projects as they’re already in the National Expenditure Program (NEP), and he couldn’t unilaterally include them in the General Appropriations Act (GAA) as he’s not a member of the bicameral conference committee.

“We all want to end corruption and jail the corrupt, but we won’t succeed if we punish the wrong people,” the lawmaker said.

He further reiterated the DPWH’s assertion that there are no ghost projects in Atayde’s district.

“The evidence speaks for itself, and the evidence speaks the truth,” Atayde said.

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COA uncovers more fraud in Bulacan flood control projects, files new reports with ICI

6:30 p.m. October 26, 2025

The Commission on Audit (COA) has submitted four additional Fraud Audit Reports to the Independent Commission for Infrastructure (ICI), exposing further irregularities in flood control projects managed by the Department of Public Works and Highways (DPWH) – Bulacan 1st District Engineering Office. 

These reports detail cases of mismatched sites, ghost projects, and the use of substandard materials, leading to significant public funds being misspent.

SYMS Construction Trading

Balagtas River Project (P46.35 million): Despite full payment, no real construction was found at the approved site. DPWH representatives directed COA to a different location where a structure made of unsuitable materials and exposed steel bars was observed. DPWH’s own records showed 0.00% completion.

Maycapiz-Taliptip River Project (P92.59 million): This project was reported as 100% accomplished and fully paid, yet COA found no flood control structure during inspection, labeling it a “ghost project.”

L.R. Tiqui Builders, Inc. and M3 Konstract Corporation (Joint Venture)

Barangay Piel, Baliuag Project (P96.50 million): Satellite imagery revealed an existing flood control structure at the approved site even before the contract began. DPWH pointed COA to an incorrect site, where an existing structure failed to meet project specifications.

DARCY & ANNA BUILDERS & TRADING

Barangay Carillo, Hagonoy Project (P74.11 million): Despite a supposed completion date of October 3, 2024, satellite images and COA’s inspection confirmed no structure was built at the approved site.

In all cases, DPWH-Bulacan 1st DEO failed to provide crucial supporting documents to COA, hindering validation of the projects.

Individuals Held Liable

Several individuals from DPWH-Bulacan 1st DEO have been identified as liable, including District Engineer Henry C. Alcantara, Assistant District Engineer Brice Ericson D. Hernandez, and Planning and Design Section Chief Ernesto C. Galang, along with various project engineers and company representatives from the involved contractors.

Those implicated may face charges under the Anti-Graft and Corrupt Practices Act, Revised Penal Code for malversation and falsification of documents, and violations of COA Circular No. 2009-001 and the Government Procurement Reform Act.

These audit findings will support the ICI’s ongoing investigation into government infrastructure project irregularities. COA Chairperson Cordoba’s directive on August 12, 2025, initiated an immediate audit of all DPWH flood control projects in Bulacan from July 1, 2022, to May 30, 2025. This new batch of reports contributes to the 25 Fraud Audit Reports already submitted to oversight bodies, reinforcing COA’s commitment to transparency and protecting public funds, in line with President Ferdinand Marcos Jr.’s call for accountability. Additional reports are expected as the audit continues.

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