SCC restarts ROC operations after long shutdown since March; broker maintains 310 baht target

Corporate ActionCommodityAnalyst
โดย HoonVision·TH·Read original
Summary · why it matters

Siam Cement Group, or SCC, informed the Stock Exchange of Thailand that the olefins plant of its subsidiary Rayong Olefins, or ROC, has resumed normal operations on 17 September 2026 after a temporary shutdown since March due to a force majeure event resulting from Naphtha feedstock supply problems following the closure of the Strait of Hormuz. The operating rate is expected to gradually return to 80-85%, close to the level before the conflict. Research from Asia Plus Securities views ROC's restart as a key factor supporting the major maintenance shutdown plan of the MOC plant later this year, allowing SCC to maintain continuity in delivering products to customers. Another issue to monitor is the progress of the feasibility study on cooperation between SCGC and PTTGC in the olefins and polyolefins business, which is expected to become clearer by the end of September. The research team maintains a buy recommendation with a fair value of 310 baht per share, viewing ROC's restart as helping reduce uncertainty in the petrochemical business, while the next value drivers come from the LSPE Ethane and CBM Transformation projects, as well as the opportunity to create synergies from the cooperation between SCGC and PTTGC.

Impact on stocks 3

Climate Adaptation & Water▲ · 1 stocks
Financials▲ · 1 stocks
Materials▲ · 1 stocks

Off-coverage companies 3

Rayong Olefins Co., Ltd.Private▲ Positive
Supplyrelevance

Rayong Olefins resumed normal operations on 17 September 2026 after shutdown since March due to naphtha feedstock supply problems.

SCG Chemicals Public Company Limited (SCGC)Private▲ Positive
Supplyrelevance

SCGC's subsidiary ROC restarted operations, reducing uncertainty in the petrochemical business and supporting product delivery continuity.

Map Ta Phut Olefins Company LimitedPrivate± Mixed
relevance

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