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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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NephroPlus Philippines strengthens nationwide presence with 50 clinics
7:09 p.m. June 27, 2026
NephroPlus Philippines announced the expansion of its nationwide network to 50 dialysis clinics, a major milestone in its mission to make quality dialysis care more accessible to Filipinos.
NephroPlus recently opened its 50th clinic in Orion, Bataan. The achievement follows the addition of eight newly acquired clinics located in Cauayan, Isabela; Laurel, Batangas; Orani, Bataan; Cagayan de Oro; Aliaga, Nueva Ecija; Kamagong, Quezon City; Bacoor, Cavite; and Ipil, Zamboanga Sibugay in Mindanao. The expanded footprint strengthens the company’s ability to serve patients in high-chronic kidney disease (CKD)-prevalence areas with limited access to specialized renal healthcare services.
The expansion also aligns with the broader international growth strategy of NephroPlus, Asia’s largest dialysis provider, while contributing to the country’s pursuit of universal health coverage through infrastructure and workforce developments. The company helps create local employment opportunities for healthcare professionals, clinical staff, and admin personnel in the communities it serves.
“Reaching 50 clinics in the Philippines is a defining milestone not just for NephroPlus but for every Filipino living with kidney disease, who deserves access to world-class dialysis care closer to home. The Philippines is now our second-largest country of operations globally, a testament to the trust communities here have placed in us. Our focus remains where it has always been, on our guests, their outcomes, and their right to live normally. At NephroPlus, life can be normal even when kidneys aren’t,” said Rohit Singh, Group CEO of NephroPlus.
Altogether, NephroPlus Philippines brings a total capacity of 686, serving an estimated 2,866 patients every month.
Standardizing Quality Across a Growing Network
As NephroPlus Philippines continues its nationwide expansion, the company ensures to invest in systems and processes that enable every clinic to deliver the same standard of care to its guests everywhere.
“Consistency is crucial for a continuously expanding network like NephroPlus,” said Gowtham Arumugam, Country Head of NephroPlus Philippines. “As much as we want every Filipino to receive the world-class dialysis they deserve, we first ensure that every clinic we open meets our NephroPlus standards – care that is safe, ethical, and compassionate. This demonstrates our commitment to quality dialysis care for our guests.”
This quality is evident across the company’s operational excellence, workforce development, and digital innovation.
The company maintains a robust operational framework that includes active compliance monitoring, standardized clinical protocols, structured onboarding of newly integrated centers, regular quality audits, and continuous patient feedback mechanisms. From operations to senior leadership, direct engagement across all clinics helps strengthen accountability and ensure consistent standards of care.
Every patient at NephroPlus is referred to as a “Guest,” based on the company’s Guest Care Model, which is a commitment to safe, ethical, and patient-centered care. To support this philosophy, the company recently launched the NephroPlus Hemodialysis Training Center in Quezon City, its first-ever training facility in the country. The center develops highly skilled dialysis professionals through programs aligned with the Department of Health (DOH), Philippine Society of Nephrology, and international standards.
Complementing its investments in infrastructure and workforce development, NephroPlus is leveraging technology to enhance guest support nationwide. Earlier this year, the company launched its Guest App, a first-of-its-kind digital platform designed to support comprehensive renal care management beyond treatment sessions. Apart from appointment scheduling, guests can access a learning hub, lifestyle guidance, and a patient community network that overall support their healthcare journey.
NephroPlus Philippines’ ongoing investments in clinic expansion, professional training, and healthcare innovation are a collective effort to reinforce its global commitment: to provide every guest living with kidney disease the opportunity to live a fuller, healthier, and more meaningful life.
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Kaspersky detected more than 92,000 malware attacks disguised as AI services in 2026
2:10 p.m. June 10, 2026
From January to the beginning of May 2026, Kaspersky solutions detected more than 92,000 attacks of malware and potentially unwanted applications worldwide disguised as popular Artificial Intelligence (AI) agents and AI services.
Cybercriminals exploited trusted brands to lure victims into downloading malicious files, with fake ChatGPT applications accounting for almost half (49%) of all detected attacks, while Claude and Gemini each represented 18%. Kaspersky presented these insights at its annual flagship European conference, Kaspersky HORIZONS, in Rome on May 19.
Since the beginning of the year, Kaspersky researchers have identified more than 15,000 samples of malware masquerading as agentic AI software, including fake versions of rapidly growing tools such as OpenClaw. Among these samples were banking trojans, spyware, exploits, and malware downloaders capable of deploying additional malicious payloads.
In May 2026, Kaspersky Global Research and Analysis Team (GReAT) also uncovered a new campaign linked to the Silver Fox advanced persistent threat (APT) group. In this operation, attackers distributed fake Claude AI applications for Windows, macOS, and Linux, targeting users seeking access to AI tools. Once launched, the malicious installers silently deployed malware onto victims’ devices, enabling long-term access to compromised systems and sensitive information.
“The introduction of AI agents into enterprise environments changes the nature of trust itself. Every automated action becomes part of a wider chain of systems and data exchanges, which means security is no longer just about protecting endpoints – it is about controlling how intelligence, permissions, and decisions propagate across interconnected AI-driven processes,” explains Dmitry Galov, Head of Russia and CIS units at Kaspersky GReAT. “Users should also keep in mind that attackers are actively leveraging popular AI services as a lure to steal victims’ confidential data and funds. Taking into account the evolution of modern threat landscape, reliable security solutions are becoming an essential part of digital life.”
To protect against evolving threats, Kaspersky recommends organizations:
- Protect corporate infrastructure against a wide range of threats. Use solutions from the Kaspersky Next product line that provide real-time protection, threat visibility, investigation and advanced response capabilities. If a company lacks cybersecurity workers, it can adopt managed security services such as Kaspersky Managed Detection and Response (MDR) and / or Incident Response that covers the entire incident management cycle – from threat identification to continuous protection and remediation.
- Equip your cybersecurity team with in-depth visibility into cyber threats targeting your organization. The latest Kaspersky Threat Intelligence delivers rich, contextual insights throughout the entire incident management cycle, enabling timely identification of cyber risks. AI-powered open-source intelligence search enhances your team’s ability to uncover and respond to emerging threats with greater precision.
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Honda PH expands export business through Click125
5:27 p.m. May 21, 2026
Honda Philippines Inc. (HPI), the leading motorcycle manufacturer in the Philippines, continues to expand its export operations as it officially begins exporting Click125 to N.C.X. Co., Ltd Cambodia and Laos, the exclusive manufacturer, distributor, and assembler of Honda motorcycles in the area.
The initiative marks another milestone in HPI’s commitment to bringing Philippine-made motorcycles to the global market while strengthening its presence across Southeast Asia.
The send-off ceremony, attended by HPI Executives, Management Members, and Project Leaders on May 15, 2026, celebrated the dispatch of the first batch of Click125 units bound for Cambodia and Laos. Export containers and actual motorcycle units prepared for shipment were also showcased during the event, highlighting HPI’s growing international business operations and dedication to delivering high-quality mobility products beyond the Philippines.
As one of Honda’s highest-selling motorcycle models in the country, the Click125 has become a trusted choice among riders because of its aggressive yet minimalist design, fuel-efficient engine, and advanced features suited for everyday commuting. Its reliable performance and riding comfort have made it popular among Filipino Customers, making it a strong model for export to neighboring Southeast Asian markets.
“The Click125 export to NCX Cambodia and Laos marks another significant achievement for Honda Philippines as we bring one of the most trusted motorcycle models of Filipino riders to international markets. This milestone reflects our commitment to showcasing the quality of Philippine-made motorcycles and delivering the Joy of Mobility to more customers across the region.,” said Takeshi Kobayashi, President of Honda Philippines, Inc.
For more product information, visit www.hondaph.com. Stay updated on HPI’s newest products and promos by following Honda Philippines, Inc. on Facebook at facebook.com/hondaph, Instagram at instagram.com/hondaph_mc/, YouTube at Honda Philippines_Motorcycle, and TikTok at tiktok.com/@hondaphilippines. For inquiries, contact (02)-8581-6700 to 6799, and 0917-884-6632.

