Economy & Market
Siam Cement to expand into Asia's fast-growing markets
Siam Cement, Thailand's one of the top industrial conglomerate and a barometer for the country's economy plans to diversify further into the region's fast-growing markets after posting a 43 percent decline in quarterly profit.
Earnings are expected to rise in the second half when demand improves on the back of rebuilding work as the country's economy recovers from severe floods last year.
To reduce its exposure to the domestic economy, Siam Cement has been looking to expand overseas to drive future growth.
Valued at $11.9 billion, the company said last week it planned to invest 200 billion baht ($6.29 billion) in the next five years, more than half of it earmarked for other Southeast Asian countries.