# SCG Reports Q3/2023 Operating Results Showing Regional Slowdown

- Link: https://www.thailand-business-news.com/thailand-prnews/scg-reports-q3-2023-operating-results-showing-regional-slowdown
- Published: 2023-10-31T20:24:37+07:00
- Author: Thailand PR News

**SCG’s Q3/2023 results showed a growth slowdown due to various factors, but the
company remains confident in its long-term growth. They are adjusting strategies
to address potential impacts from conflicts and focusing on energy cost reduction,
reassessing business plans, and investing in high-growth potentials. They are also
accelerating green innovations. The company expects the ASEAN economy to improve
in Q4, but the global economic situation remains uncertain.**

## Slowdown in Growth Due to Various Factors

SCG announced its operating results for Q3/2023, revealing a slowdown in growth.
This was attributed to several factors including a stagnant regional market, a petrochemical
trough, shrinking exports, and high-interest rates. The company acknowledged the
need to address potential impacts from conflicts in the Middle East and Russia-Ukraine
tensions.

## Focusing on Strategic Adjustments

SCG is implementing three main strategies to counter these challenges. Firstly, 
the company aims to streamline energy costs to enhance efficiency. Secondly, they
are reassessing their business plans and investing in high-growth potentials to 
expand their reach. Lastly, SCG is accelerating green innovations to align with 
sustainable practices.

## Confident in Long-Term Growth

Despite the current slowdown, SCG maintains confidence in its long-term growth prospects
and showcases robust financial stability. The company foresees improvements in the
ASEAN economy, particularly in Indonesia and Thailand, during Q4. However, the overall
global economic situation remains highly uncertain, posing potential risks to future
growth.

**Source** : [SCG Reports Q3/2023 Operating Results Showing Regional Slowdown](https://thailandbusinessnews.net/companies/scg-reports-q3-2023-operating-results-showing-regional-slowdown/?rand=93848)