SCC Forms Joint Venture to Expand Retail Business in ASEAN

The Siam Cement Public Company Limited (SCC) has announced that SCG Retail Holding Limited, a wholly owned subsidiary of SCC, has entered into a joint-venture agreement with Boonthavorn Group Company Limited and Boonthavorn Ceramic Co. Ltd (collectively, ‘Boonthavorn’) to establish SCG-Boonthavorn Holding Co. Ltd (SCG-BTV Holding). This new entity is formed to deepen the collaboration with Boonthavorn in order to expand home-related design solutions retail outlets in Thailand and Southeast Asia. The joint venture will cater to the growing demand for home-related interior finishing, decorative, and exterior solutions in the region.

SCG-Boonthavorn Holding’s total registered capital is THB525 million. SCG Retail will hold a 51% equity stake, while the remaining 49% will be held by Boonthavorn. Together with Boonthavorn, 11 branches have opened their doors to customers in Thailand to date.

This investment is considered an asset acquisition transaction. The size of this transaction is 0.04% of total assets stated in SCC consolidated financial statements as of June 30, 2020, and when combined with those in the past six months prior to the date of this transaction, the total size is 0.06%.