SCG sale revenue in Vietnam surges 41 percent in Q2
SCG, a cement and building material conglomerate in the ASEAN region, has announced a revenue from sales in Vietnam at over 9.85 trillion VND (428 million USD) in the second quarter of this year, up 41 percent year-on-year.
Polymer Packaging produced by SCGP – the packaging business of SCG. (Photo courtesy of SCG)The positive performance was mainly attributable to new partnership of packaging (SOVI, GOPAK), chemicals (TPC, Chemtech) and export sales from Thailand to Vietnam, according to the company.
In the second quarter, SCG’s total assets in Vietnam surpassed 122 trillion VND, an increase of 37 percent year-on-year, mainly from the chemicals business.
Amid the pandemic, SCG has actively contributed to the national vaccine fund while its subsidiaries have supported nationwide pandemic curbing attempts.
In southern provinces, SCGP – the packaging business of SCG – has donated 2,000 field hospital beds to alleviate frontline pressure in HCM City, Dong Nai, Binh Duong and Long An, while Long Son Petrochemicals has contributed 10 billion VND for vaccination purposes.
In the central region, Song Gianh Cement has supported the vaccination programme in Quang Binh. Meanwhile, in the northern areas, SCGP has accompanied Hai Duong and Bac Giang in the fight against the pandemic.
Overall, SCG revenue from sales for the first half of 2021 rose 27 percent year-on-year to over 8.29 billion USD thanks to higher chemical prices. Profit for the period saw a yearly hike of 99 per cent to over 1 billion USD on the back of improved chemical product spreads and equity income./.
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
Business
Vietnamese canned sugarcane juice favoured in US
The first cases of Vietnamese canned sugarcane juice have hit supermarket shelves in Miami, the US state of Florida.
Business
Labels on foods exported to Singapore must be accurate: Trade counselor
Counsellor Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, has advised Vietnamese exporters to pay attention to labeling pre-packaged food products to ensure their credibility and image of businesses when exporting to the Singaporean market.
Business
April 25 gold bullion auction cancelled
The State Bank of Vietnam (SBV) has announced that it canceled the gold bullion auction scheduled for April 25 morning as only one business submitted its bidding form.
Business
High airfares create chance for short-distance trips for Reunification Day holiday
Due to a hike of air ticket prices for domestic flights, Vietnamese tourists are turning to short-distance trips for the upcoming National Reunification Day (April 30) and May Day (May 1) holidays.
Business
Phu Yen, Ninh Thuan attractive to energy project developers
The south-central coastal provinces of Phu Yen and Ninh Thuan have become attractive destinations for investors operating in the energy industry thanks to great potential for renewable energy development.
