SCG reports third-quarter results, names new chief

Siam Cement Group (SCG), Thailand's largest industrial conglomerate, said on Wednesday its quarterly net profit rose 15 per cent YoY as improved margins from petrochemical products offset weak performance of cement and packaging businesses.

July-September net profit was THB9bn (US$253.59m). But profit dropped 19 per cent from the previous quarter due to weaker chemical prices and inventory loss.

New CEO named
Meanwhile, the company has named Roongrote Rangsiyopash as the next president and chief executive officer. Roongrote will replace Kan Trakulhoon, who will retire from his office, the company said in a filing to the Stock Exchange of Thailand.