SCG reviewing investment plans

The Siam Cement Group (SCG) stated that it will review its investments in light of high market volatility and slowing global demand. 

In particular, a joint venture with PetroVietnam to build a $3,5 billion chemical complex in Vietnam is likely to be slowed down.

In the first six months of 2008, SCG's revenues rose 23% year-on-year to 158,86 billion baht, but income declined 16% to 14,31 billion. 50% of SCG's earnings are from chemicals, 30% from cement and paper and building products accounting for around 20%. The company has little direct exposure to the US, but is opting to play it safe, reports the Bangkok Post.{/reg}