Siam Cement to issue debentures in third quarter

Local press reported on 22 January that Siam Cement Group is expected to issue new baht-denominated debentures in the third quarter to ease domestic debts.
SCB president Chumpol NaLamliang said the v…

Local press reported on 22 January that Siam Cement Group is expected to issue new baht-denominated debentures in the third quarter to ease domestic debts. SCB president Chumpol NaLamliang said the value of the planned debentures would be determined by the group“s overall performance. SCB has issued nearly THB 50 billion in debentures to refinance its foreign and domestic debts since the recession started. Besides, it has not paid dividends for six years while its non-core businesses have been continuously sold. SCB estimated sales would rise 3% this year from THB 120 billion last year but the firm will not expand its businesses or pay dividends. Siam Cement is a Thailand-based manufacturer of construction materials, electrical products, steel, machinery, auto products, paper, packaging and petrochemicals.