SCG, a Thai-owned Southeast Asian conglomerate, reported first quarter revenue from sales of VND6 trillion (US$267 million) from its Viet Nam operations, a 10 per cent year-on-year increase.

The revenues came mainly from packaging, cement and building materials, it said.

Roongrote Rangsiyopash, president and CEO of SCG, said: “Despite unfavorable factors including intense competition both at home and in the region, rising raw material costs, and the strengthening Thai baht that carried over to the business, SCG’s Q1 2018 operating results were comparable to the previous quarter.”

SCG continues to develop value-added products and services with a focus on enhanced collaboration with customers and leading institutions.

The company in the first quarter invested over VND869 billion ($38 million) in research and development.

SCG broke ground in February this year for its flagship project, Long Son Petrochemicals (LSP), in Long Son Commune in Ba Ria – Vung Tau Province.

Nawaplastic Industries (Saraburi) Company Limited, a subsidiary of SCG, has bought more shares of Binh Minh Plastic, one of the country’s top producers and sellers of PVC pipes and joints to raise its stake to 50.9 per cent.

SCG has three core businesses: SCG Cement-Building Materials, SCG Chemicals, and SCG Packaging. It has 200 subsidiaries and 57,000 employees.