SCG announce strong operating results despite inflation and Covid-19

Particularly, in the fouth quarter of last year, SCG’s total asset in Vietnam was more than $6,400 million, an increase of 32 per cent year on year, mainly in the chemicals business from Long Son Petrochemicals (LSP).

SCG announced strong operating performance in 2021 despite inflationary pressures, rising energy, and raw materials costs, as well as the Covid-19 pandemic by driving business transformation to address three megatrends. 

The company reported revenue from sales in 10 – 12/2021 period at $440 million, up 46 per cent year on year mainly from export sales from Thailand to Vietnam.

SCG continues to support communities during the Covid-19 pandemic by donating real-time PCR testing equipment worth nearly $400,000 to Hanoi and paper beds to Southwest provinces.

Moreover, it pursues the flagship scholarship program, SCG Sharing the Dream, to expand education opportunities for nearly 300 high school and university students nationwide, up to more than $90.000.

SCG also affirms as the leader in sustainability with its six subsidiaries listed in the top 100 most sustainable companies by the Corporate Sustainability Indexes (CSI), one of the most prestigious sustainability awards in Vietnam organized by the Vietnam Business Council for Sustainable Development (VBCSD).

For SCG’s operation in ASEAN (excluding Thailand), the total assets amounted to nearly $11,700 million, 45 per cent of SCG’s total consolidated assets.

Roongrote Rangsiyopash, president and CEO of SCG, said that although during the year 2021, economies around the world had been impacted by rising energy and raw material costs, inflation and Covid-19, SCG has steadily been accelerating business transformation.

As a result, it has maintained satisfactory growth over the past year by aligning the business with three megatrends, including incorporating ESG into business operations, leveraging digital transformation to meet customer needs, and developing innovative solutions to meet wellness trends and improve the quality of life.

In details, SCG has adopted ESG 4 Plus, including four approaches that are set net-zero, go green, reduce inequality, and embrace collaboration with fairness.

The company has committed an initial investment of VND47 million by 2030 to improve the production process and develop low-carbon businesses, to achieve net-zero greenhouse gas emission within 2050.

In 2021, it recorded a reduction of 4.1 per cent in greenhouse gas emissions over the same period in 2020, and higher proportion of SCG Green Choice product sales, from 33 per cent in 2020 to 41 per cent in 2021.

It also leverages digital transformation to address new customer needs, and add value to minimize cost and time while increasing performance.

Examples include Digital Twin technology, a virtual agent that aids in the evaluation and efficient modification of production patterns; CPAC Green Solution that adopts digital technology to optimize construction efficiency; or the development of digital platforms to manage the largest distribution network.

The approaches also include developing innovative solutions to meet wellness trends and improve the quality of life, such as medical-grade plastic innovation Isolation Capsule for Air Transportation; soluble laundry bags to reduce the risk of infection patient’s clothing; Smart Building Solution, an innovative building system management solution that uses IoT technology to improve air quality and save energy.

SCG, one of the leading conglomerates in the ASEAN region, comprises three core businesses that are cement-building materials, chemicals, and packaging (SCGP).

It began its business operations in Vietnam in 1992 with a trading business, and gradually expanded investment in diversified businesses in the cement-building materials, chemicals, and packaging.

Today, with a total of 23 companies across Vietnam driven by more than 15,000 employees, SCG offers a variety of premium products and services to markets. The latest is the cement product under ‘SCG Super Cement’, ‘Song Gianh’, and ‘StarCemt’.