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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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PTT Philippines introduces high-performance fuels

2:45 p.m. April 11, 2025

Thai oil firm PTT Philippines has introduced its new line of high-performance fuels to provide the mobility market with more efficient and engine-friendly petrol, in a move that would redefine fuel quality.

Following an extensive study and research, PTT Philippines has reformulated its line of fuels to bring them into the next level and brought into life Power+ Gasoline, Eco+ Gasoline, Ultra+ Diesel, and Save+ Diesel.

“This is going to redefine high-performance fuels as they are intended to improve driving experience not only in terms of mileage but also the cleaning and protection formula for the engine to last longer,” PTT Philippines Corporation President & Chief Executive Officer Athiwat Rattanakorn said during the formal launch Tuesday at PTT Park ‘n Fly Station in Pasay City.

“Combining latest technologies and high-quality components, our transition from Blue Innovation formula to this new product lines were part of our continuing drive on fuel innovation,” he added.

Power+ Gasoline is a premium grade fuel with 95 octane and contains more cleaning molecules that removes performances reducing deposits in the engine. Its friction modifier also improves power and torque for smoother driving experience.

Eco+ Gasoline has 93 octane and contains cleaning molecules that keep engine clean for improved fuel economy and emission.

Ultra+ Diesel is a premium grade diesel that contains twice the cleaning molecules from its previous regular formula that would help restore up to 100% of loss engine performance due to dirt and sludge. It will also help improve the combustion for better performance.

Save+ Diesel, on the other hand, has cleaning molecules that keep engine clean for better mileage and cleaner emission.

Initially, these new line of fuel products are available in at least five PTT stations in Luzon – the PTT Park ‘n Fly; PTT SCTEX and Concepcion, both in Tarlac; PTT Belfast in Fairview, Quezon City; and PTT Daet in Camarines Sur. They will soon be made available in all of PTT’s 170 stations all over the country, except for the Ultra+ Diesel which will be exclusively offered in the said five stations.

Apart from offering premium grade fuels, the adoption of new names from its previous Blue Innovation brand was also aimed at simplifying the product identification while clearly highlighting the unique advantages of each fuel grade offers.

“By adopting modern and dynamic names, we want to resonate better with our customers,” said Retail Marketing Director Sakon Masagee. “The new product names also align with our mission of staying competitive in the Philippine fuel industry while differentiating itself as a brand focused on superior value and customer satisfaction.”

Currently, PTT has a total of 170 stations in the country offering petroleum products of international standards, complementing the brand’s presence in other countries in Southeast Asia. PTT Philippines is a subsidiary of Thailand’s PTT Oil & Retail Business Public Company Limited.

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Smart scores big with NBTC, shapes future of PH basketball

5:36 p.m. April 10, 2025

Mobile services provider Smart Communications Inc. (Smart) successfully concluded the 2025 Smart-National Basketball Training Center (NBTC) National Finals. This year’s event brought together the best Filipino high school basketball teams, both local and international, to compete for the championship title, showcasing the exceptional talent and dedication of young athletes from across the country.

The Smart-NBTC National Finals, supported by Smart Sports and Puso Pilipinas, featured thrilling matches that captivated basketball fans nationwide. All games were livestreamed on PusoP.Com, allowing fans to watch their favorite teams and players in action.

Jude Turcuato, PLDT and Smart Head of Sports, expressed his pride in the continued partnership with NBTC. “Smart is committed to empowering young athletes from the grassroots level. Through our support for the NBTC, we aim to provide these talented individuals with the resources and opportunities they need to excel in their sport and achieve their dreams. The success of the 2025 Smart-NBTC National Finals is a testament to our dedication to nurturing the next generation of Filipino basketball stars.”

In an interview with Puso Pilipinas, former Los Angeles Lakers shooting guard and NBA coach Byron Scott spoke about his experience coaching young athletes in this year’s NBTC. “The passion here in the Philippines about basketball is unmatched. It really is something special to watch, they play it with such a passion, and they play so hard, and they have very high basketball IQs, too. It’s really good to see the revolution of basketball here from when I was here eight to ten years ago till now has really developed.”

The NBTC has a rich history of producing prominent names in basketball, including Houston Rockets guard Jalen Green, Gilas Pilipinas center Kai Sotto, Kamaka Hepa, Kihei Clark, Jeron Artest, Kai Ballungay, Jared Bahay, and Kieffer Alas. Their participation in previous NBTC tournaments highlights the event’s significance in developing future basketball talents. Also present at the finals is Filipino-American comedian Jo Koy, who sponsored Fil-Nation Jo Koy, an under-19 girls squad in the finals.

Smart remains steadfast in its mission to promote sports development and inspire young athletes to reach their full potential. All these initiatives highlight PLDT and Smart’s continuing contribution to the United Nations Sustainable Development Goals (SDGs), particularly SDG 3: Good Health and Well-Being. [END]

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HD Spikers’ experience, poise drown King Crunchers’ hype

2:10 p.m. April 7, 2025

Three-point thrillers defined the first two games of the Spikers’ Turf Open Conference Finals, with Cignal and Criss Cross trading blows to split the series. But when it mattered most, experience and composure rose above firepower and promise.

Cignal swept a shell-shocked Criss Cross side, 25-22, 25-16, 28-26, in a decisive Game 3, keeping its throne with authority and securing its ninth Spikers’ Turf title – a testament to the franchise’s dynastic reign.

And the HD Spikers’ near-improbable Set 3 comeback perfectly captured the HD Spikers’ championship DNA – while exposing the vulnerabilities in the King Crunchers’ once-imposing armor.

Backed by a core that has weathered countless championship wars, Cignal leaned on the big-game savvy of Louie Ramirez, Steven Rotter, Lloyd Josafat, JP Bugaoan and later on Jau Umandal, outclassing a Criss Cross squad that once again failed to deliver when the pressure peaked.

Despite bolstering their roster with heavy hitters like Jude Garcia, Marck Espejo, and Jaron Requinton, the King Crunchers faltered at the net and mentally unraveled down the stretch. Cignal’s 13 kill blocks and impenetrable defense neutralized Criss Cross’ vaunted frontline and left them playing catch-up in the first two sets.

Game 2 had seemed like a turning point for Criss Cross, which clawed back from a late deficit in the fifth set to level the series and briefly seized momentum. But their Game 3 performance told a different story – tentative, inconsistent, and ultimately overwhelmed in the first two sets.

That 2-0 set lead marked the first time Cignal had been ahead of Criss Cross in any of their six meetings this conference, putting the HD Spikers just a set away from extending their dominance over the King Crunchers.

But the King Crunchers seemed poised to extend the match after controlling most of Set 3, but when the pressure mounted down the stretch, cracks began to show in the team that had swept 13 straight matches en route to the finals.

With the title on the line, Cignal’s pedigree shone, while Criss Cross once again buckled under the weight of expectations, losing its third straight Finals series to the HD Spikers.

Coach Dexter Clamor deserved credit for keeping his squad mentally locked in. After a bitter Game 2 defeat and being down by three in the third set of the sudden death, he inspired a ruthless response in the clutch, driving home a reminder of why Cignal remains the league’s gold standard.

It was a masterclass from Clamor, who kept his team locked in with sharp, strategic guidance, exploiting even the smallest cracks in the opposition’s game.

In contrast, King Crunchers coach Tai Bundit struggled to find the right answers. Despite experimenting with combinations and calling timely timeouts in an effort to disrupt Cignal’s rhythm, his squad fell short when it mattered most.

Down 20–23, Clamor turned to Umandal – who, true to his form, answered the call with poise and intensity. Coming off the bench fresh and fiery, he immediately delivered with an off-the-block hit and a kill, then followed up with a defensive stop, denying Chumason Njigha’s quick attack.

In a flash, the score was tied at 23. In moments as tight and intense as this, only a team with a champion’s heart and nerves of steel could pull through.

Cignal did. But not without drama – surviving three set points and showcasing the resilience that defines their character.

Then came Rotter. Known for his thunderous attacks and powerful serves, he made his mark in an unexpected way – on defense – thwarting Espejo’s kill attempt to push the HD Spikers to match point.

After a tense rally, Rotter finally unleashed his trademark backrow attack, fed perfectly by Owa Retamar. The ball ricocheted off libero Manuel Sumanguid’s arms and flew out of bounds.

Espejo, in a desperate attempt to save the point, chased the ball but crashed into the railings. The sequence sealed the win and sparked a euphoric celebration for the HD Spikers, who claimed their ninth championship in just one hour and 33 minutes.

As white confetti rained down, the underdog HD Spikers basked in what could be considered their sweetest victory yet – achieved against the powerhouse Criss Cross squad.

One man stood tall in this milestone triumph: Ramirez, who matched Rotter’s 15-point output to once again earn Best Player of the Game honors.

For Ramirez, a standout from Perpetual Help, the performance was personal – a redemption after struggling for most of the conference.

“My mindset was to make it up to my teammates. I didn’t perform well all season, so I told myself that if I got a chance in the finals, I’d give everything I had,” said Ramirez in Filipino, who also bagged top honors in last year’s title run.

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