SET-listed SCG, Thailand’s largest cement maker and industrial conglomerate, has adjusted its 2020 revenue estimate, believing it will fall by 9% from last year, not 6% as earlier expected, because of the impact of the Covid-19 pandemic.
In 2019, its revenue stood at 437 billion baht.
The company believes the pandemic will continue to haunt the global economy into next year, making it difficult to come up with a new business plan for 2021.
SCG president and chief executive Roongrote Rangsiyopash said on Thursday it is hard to precisely assess the impact the company is facing, making its work on the new plan a time-consuming job.
However, he expected SCG should complete its 2021 business plan within the last quarter this year.