Is Siam Cement (SCC-R.BK) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Siam Cement (SCC-R.BK) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 111.4% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 21 September 2026.
Siam Cement is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Pass |
| Interest-bearing debt | 30% | 111.45% | Fail |
| Cash and interest-bearing investments | 30% | 68.71% | Review |
| Prohibited income | 5% | 0.28% | Pass |
| Not just cash and debts | 90% | 29.73% | Pass |
Key Findings & Observations
- Interest-bearing debt is 111.4% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2).Source: AAOIFI Shari'ah Standard 21
- The cash and interest-bearing investments test couldn’t be settled: The figures give 18.3% and 68.7%, on either side of the limit. Includes long-term investments that may be shares in other companies.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about The Siam Cement Public Company Limited (SCC-R.BK)
Is Siam Cement (SCC-R.BK) stock halal?▾
No. Siam Cement (SCC-R.BK) does not pass the AAOIFI Shari’ah Standard 21 screen. Interest-bearing debt is 111.4% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/2). Last checked 21 September 2026.
What is Siam Cement's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Siam Cement's ratio is about 111.4%.
How much dividend purification is required for Siam Cement (SCC-R.BK) stock?▾
Siam Cement does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Siam Cement operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Siam Cement's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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