BANGKOK--Siam Cement PCL (SCC.TH), Thailand's
largest industrial conglomerate by revenue, is considering acquisitions in the
Association of Southeast Asia Nations, with a focus on Vietnam and Indonesia,
Chief Executive Kan Trakulhoon said Friday.
Between
the two countries in focus, Siam Cement is paying more attention to Indonesia
given its large population and lower dependence on the export sector, Mr. Kan
told reporters.
He also
said the euro zone's economic crisis won't have a direct impact on the company
since it barely sells any products there, but it does provide Siam Cement an
opportunity to expand its business in the region via acquisitions.
Despite
improving petrochemical spreads, Siam Cement's petrochemical business will
likely be weighed by inventory loss in the second quarter mainly due to a slide
in oil prices, Mr. Kan said.
However,
he expects the performance of the petrochemical business to improve in the
third quarter thanks to an anticipated recovery in demand from China,
especially after the country's central bank made a surprise interest rate cut
decision on Thursday to bolster economic activity.
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