By Bernie Cahiles-Magkilat
ASEAN conglomerate SCG is eyeing a 10 percent increase in net sales this year, but which is lower than its 26 percent growth in 2018.
Anuvat Chalermchai, newly-appointed and the first SCG Philippines country director, said this as he revealed the Thai conglomerate’s strategies for the Philippine market.
“We feel very confident because of the strong direction of the Duterte administration’s Build Build Build program,” said Anuvat.
Anuvat said their growth target this year would be driven by its three-pronged strategies: cement and building materials, full range home living service and solutions, and omni channel marketing.
According to Anuvat, SCG has been aggressively expanding its presence in the Philippines and the entire ASEAN region since two years ago.
“We want to become the leader in ASEAN in the near future and we want to contribute in the economic progress in the Philippines and the region,” he said citing robust GDP growth target of the government.
In 2018, SCG Philippines recorded consolidated net revenues of P18.537 billion, a 26 percent increase from the previous year of P16.1 billion.
Of the P18.5 billion total revenues, the cement and building materials business accounted for the biggest contribution with P7.5 billion, making it second biggest share at 34 percent of total business in the country. SCG’s packaging division accounted for 29 percent share and other business with the bigger 37 percent share.
“The P7.5 billion revenues from building materials business is just the beginning as we look to invest more in the Philippines,” said Anuvat.