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MarketScreener Homepage  >  Equities  >  Stock Exchange of Thailand  >  The Siam Cement    SCC   TH0003010Z04

THE SIAM CEMENT

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Thai central bank to develop payment system prototype for business using digital currency

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06/18/2020 | 07:20am EDT
Thailand's central bank is seen at the Bank of Thailand in Bangkok,

Thailand's central bank unveiled on Thursday plans to build a prototype of a payment system for businesses using central bank digital currency (CBDC), or traditional money but in digital form being developed by monetary authorities around the world.

The CBDC prototype will be integrated with the procurement and financial management systems of Siam Cement and its suppliers, the Bank of Thailand (BOT) said in a statement.

The project will begin in July and is expected to conclude by the end of the year, BOT said, adding its scope will include conducting a feasibility study.

"The project marks an important step in broadening CBDC's scope and adoption to wider audiences, starting with large corporates," it said. For details, click here https://www.bot.or.th/English/PressandSpeeches/Press/2020/Pages/n3063.aspx

Many central banks are looking into the potential for CBDCs. They differ from cryptocurrencies like bitcoin, which are produced by solving complex math puzzles and governed by disparate online communities instead of a centralised body.

(Reporting by Orathai Sriring; Editing by Ed Davies)

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -1.25% 7955.972 End-of-day quote.25.80%
BITCOIN - UNITED STATES DOLLAR -1.26% 9076.4295 End-of-day quote.27.92%
THE SIAM CEMENT 0.52% 386 End-of-day quote.-1.53%
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Financials
Sales 2020 410 B 12 932 M 12 932 M
Net income 2020 32 267 M 1 018 M 1 018 M
Net Debt 2020 197 B 6 223 M 6 223 M
P/E ratio 2020 14,6x
Yield 2020 3,40%
Capitalization 462 B 14 629 M 14 578 M
EV / Sales 2019
EV / Sales 2020 1,61x
Nbr of Employees 23 630
Free-Float 56,0%
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Technical analysis trends THE SIAM CEMENT
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 381,30 THB
Last Close Price 386,00 THB
Spread / Highest target 14,0%
Spread / Average Target -1,22%
Spread / Lowest Target -32,6%
EPS Revisions
Managers
NameTitle
Roongrote Rangsiyopash President, Chief Executive Officer & Director
Satitpong Sukvimol Chairman
Thammasak Sethaudom Chief Financial Officer, VP-Finance & Investment
Sumet Tantivejkul Vice Chairman
Pricha Attavipach Independent Director
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