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SCG reports solid 2024 results, poised for ASEAN growth
2:36 p.m. February 13, 2025
SCG maintains a strong 2024 EBITDA and positions itself for regional growth in 2025.
SCG, a leading conglomerate in Southeast Asia, demonstrated resilience in 2024, effectively managing its EBITDA at 87,917 million PHP (US$1,528 million), matching its 2023 performance.
As Thammasak Sethaudom, President and CEO of SCG, highlighted, this achievement came amid a complex economic landscape marked by a slowdown in the petrochemical cycle, geopolitical tensions, volatile energy costs, and high interest rates. Despite these headwinds, SCG maintained financial stability and delivered consistent shareholder returns.
Thammasak Sethaudom, President and CEO of SCG
A key factor in SCG’s success was its proactive implementation of reinforcement measures initiated in late 2024. These measures focused on three core areas: working capital management, operational restructuring, and controlled capital expenditure. These efforts yielded significant results, including a reduction in working capital of approximately 10,613 million PHP (US$183 million) year-on-year, streamlining operations through discontinuing unprofitable ventures, and focusing on high-return, rapid-payback projects. Consequently, net debt decreased by 28,718 million PHP (US$494 million) from the previous quarter, resulting in a healthy net debt-to-equity ratio of 0.7 times. SCG ended the year with robust cash reserves of 91,289 million PHP (US$1,570 million).
Looking ahead, SCG is well-positioned to capitalize on the projected economic recovery in ASEAN. The region, particularly Indonesia and Vietnam, is expected to experience GDP growth exceeding the global average, fueled by strong domestic demand, government stimulus, and increasing foreign investment. This positive outlook bodes well for SCG’s construction materials businesses. SCG Distribution & Retail, for instance, is accelerating the expansion of its Mitra 10 modern trade format in Indonesia. It aims to reach 100 branches by 2030, having already achieved 56 branches serving over one million customers monthly in 2024. SCGP (SCG Packaging) is also poised to benefit from rising ASEAN consumption and the increasing demand for packaging paper.
While SCG’s overall performance remained strong, its chemicals business (SCGC) faced challenges in 2024. The regional petrochemical industry experienced intensified competition due to new production capacity and weakened demand stemming from China’s economic slowdown. SCGC responded by prioritizing the development of High-Value Added Products & Services (HVA) and diligently managing EBITDA, costs, and working capital to maintain competitiveness. With signs of stabilization in the petrochemical cycle and anticipated declines in oil prices in 2025, SCGC is focused on further enhancing EBITDA and cost management efficiency. Notably, SCGC has accelerated its Long Son Petrochemicals (LSP) project in Vietnam by increasing the use of ethane gas feedstock, securing a long-term supply agreement, and chartering ethane shipping vessels to enhance long-term competitiveness.
SCG is also actively pursuing growth in new export markets, including North America and Australia. SCG Cement & Green Solutions is ramping up exports of Low Carbon Cement, targeting approximately one million tons this year. SCG Decor is experiencing success with its high-strength X-PORCELAIN tiles exports and aims to double export growth in 2024. SCGP is similarly expanding exports of polymer packaging, food service packaging, and printing and writing paper.
Furthermore, SCG is investing in smart living solutions and clean energy. SCG Smart Living is broadening its portfolio to include air quality products and solar solutions under the ONNEX brand while introducing more affordable product lines. SCG Cleanergy is expanding its solar power generation and distribution capacity, aiming for 3,500 MW by 2030.
In 2024, SCG reported Revenue from Sales of 833,070 million PHP (US$14,483 million), a 2% increase year-on-year, driven by higher sales volumes from SCGC and SCGP. However, profit for the year declined by 76% to 10,336 million PHP (US$180 million) due to the performance of the LSP project and lower contributions from associate companies. Excluding extraordinary items from 2023, profit declined by 52%. Fourth-quarter 2024 Revenue from Sales increased by 2% from the previous quarter, but the company reported a loss of 834 million PHP (US$15 million) due primarily to LSP performance and entire depreciation expenses.
SCG’s ASEAN operations (excluding Thailand) generated Revenue from Sales of 223,378 million PHP (US$3,883 million) in 2024, a 12% increase year over year and contributing 27% to SCG’s total revenue. In the Philippines, Revenue from Sales reached 19,356 million PHP (US$337 million), a significant 45% increase driven by SCGP.
Meanwhile, SCG Philippines is committed to sustainable development. This quarter, the company introduced the lightweight Q-con block, an eco-friendly building material from Thailand, to the Philippine market, a collaboration with key contractors like EEI that underscores its focus on Inclusive Green Growth. SCG showcased a diverse range of sustainable building solutions at NATCON-CONEX 2024, including Smart Block, Smart Putty, and Façade, reflecting its dedication to providing high-quality, environmentally friendly products.
Meanwhile, SCG Philippines expanded its retail presence with the opening of four new CTM stores, offering affordable ceramic tiles and sanitary ware. Furthermore, the SCG Open House 2024 provided a platform for industry professionals to explore its latest innovations and foster collaboration within the construction and home improvement sectors.
The company also partnered with Urban Farmers PH on urban farming initiatives, demonstrating its commitment to ESG principles and Inclusive Green Growth.
“SCG continues to adapt and expand into new markets. We are confident that in 2025, we will sustain strong EBITDA management while ensuring continuous commitment to shareholder care,” Thammasak concluded.
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Tesla Cybertruck winner bought 10 units of HONOR X9d 5G
2:56 p.m. April 21, 2026
Global leading AI device brand HONOR handed over the coveted Tesla Cybertruck to the winner of the HONOR X9d 5G “Win A Tesla Cybertruck” promo that ran during the toughest phone’s pre-order period January 9 to 23, 2026.
“The HONOR X9d 5G is our biggest win this year, and it continues to stand out in its category with its ultra-tough build, engineered to withstand everyday drops and pressure, making it a reliable companion for users with active lifestyles. This awarding marked a milestone not only for us, but also to our growing community of Filipino fans,” said HONOR Philippines Vice President Stephen Cheng.
Launched as part of HONOR’s effort to bring excitement to the Filipino market, the HONOR X9d 5G Win-A-Tesla Cybertruck promo captured nationwide attention, drawing strong participation from consumers eager to experience the smartphone’s exceptional durability, long-lasting battery life, and sleek design—while also getting a chance to win a once-in-a-lifetime prize.
The much-anticipated turnover celebrated excitement and the rewarding experience that HONOR continues to bring to its consumers. The grand winner, Lorelyn Felonia, who purchased 10 pieces of HONOR X9d 5G during the promo period, drove home not just a powerful smartphone but also one of the rarest vehicles in the world.
To award the multi-million prize were HONOR Philippines Country Manager Sean Yuan, Digital Marketing Manager and Content Lead Eason De Guzman.
With the successful conclusion of the campaign, HONOR Philippines looks forward to launching more exciting initiatives that combine cutting-edge technology with equally compelling rewards to its loyal HONOR fans.
To learn more about this exciting news, visit HONOR’s website www.hihonor.com, and follow HONOR Philippines on Facebook (Facebook.com/HonorPhilippines), Instagram (Instagram.com/honorph/) and TikTok: (Tiktok.com/@honorphilippines) for exclusive teasers, launch updates, and big reveal.
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#GCashTipidTips: DOTr-mandated 50% discounted MRT-3 fares can be availed via GCash
6:15 p.m. April 18, 2026
STARTING April 23, the Department of Transportation (DOTr) has implemented a discounted fare matrix for single-journey tickets, stored-value cards, and cashless payments in response to rising consumer prices.
Passengers of Metro Rail Transit Line 3 (MRT-3) can easily avail of the discounted fare via the GCash app by using the GCash Commute QR, NFC-enabled Android phone, or GCash Visa card. Commuters can skip the ticketing booth lines and go directly to the platforms, making travel more convenient and seamless.
The GCash payment schemes have been up and running at MRT-3 since July last year, providing commuters with cashless options for their daily travels.
The goal is simple: to make everyday transactions more affordable, accessible, and seamless for Filipinos.
For more information, please visit https://help.gcash.com/hc/en-us/articles/49102305024025-Can-I-use-GCash-for-transportation
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DigiPlus levels up user engagement with ArenaPlus’ P1B Prediction Giveaway
5:10 p.m. April 7, 2026
DigiPlus Interactive Corp., the country’s pioneer and leader in digital entertainment, through its flagship sportsbook platform ArenaPlus, formally launched its P1 Billion Prediction Giveaway last Saturday, March 21, heralding a major step-up in its customer acquisition and retention strategy.
This initiative is anchored by a high-stakes prediction challenge designed to invite new users onto ArenaPlus, while also deepening player participation and reinforcing brand leadership in the Philippine online sportsbook space. Central to this campaign is the introduction of a localized tournament bracket game—a staple in American sports culture that ArenaPlus is pioneering for the local market.
“We want to bring some excitement for the Filipino basketball fans, especially since we know that the NBA is the most popular sport here. The bracket game is actually very common in the US. It’s been running there constantly for years, but the Philippines has never had that experience. We want to bring that here,” said ArenaPlus Head Erick Su.
By offering the ₱1 Billion Prediction Giveaway as a free-to-play initiative, DigiPlus enables fans to engage in the tournament without any monetary commitment. Su emphasized that the campaign is designed to provide a safe, entertainment-led experience, with the bracket format sustaining interest from the opening round of the Playoffs through the Finals, where one team ultimately prevails.
“I think the excitement will be from beginning to the end. Because the bracket game covers the whole stage of the Playoffs, fans can expand their predictions and go along with the whole process and expect that they can win,” Su said. “So that’s going to bring a lot of excitement. And this is completely free and very safe as we want to entertain Filipinos.”
Amplifying the campaign that launched at Mall of Asia Sky Deck Amphitheater in Pasay City was premier host and actor Luis “Lucky” Manzano, who was also introduced as ArenaPlus’ latest brand ambassador. Joining Manzano were fellow endorsers Gilas Pilipinas naturalized player Justin Brownlee, multi-time champion assistant coach Bong Ravena, and his son, international pro Thirdy, who are effectively raising ArenaPlus’ visibility while also broadening the brand’s demographic reach.
“At ArenaPlus, we are relentless with our commitment to elevate our players’ experience, making sports more fulfilling, more immersive, and more rewarding for every Filipino,” said ArenaPlus Marketing Head Hannah Bagui as ArenaPlus continues to differentiate itself by pioneering accessible digital sports entertainment.
While the campaign is designed to drive wide participation, ArenaPlus emphasized that it intends to maintain strict platform integrity through its rigorous eKYC (electronic Know Your Customer) process. Such a guardrail bolsters an already rich suite of responsible gaming tools built into ArenaPlus, such as options to set daily gaming durations, customize specific gaming schedules, and establish daily loss limits. This ensures that while the campaign achieves great reach, it does so within a secure, transparent, and compliant environment that builds trust.
Through these strategic customer activations and continuous platform innovation, DigiPlus Interactive Corp. continues to solidify its legacy as the definitive pioneer of the Philippine digital entertainment industry, driving growth while also redefining user engagement
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