PTT expects G-20 to end trade war

[snoop1130]

PTT expects G-20 to end trade war 

By The Nation 

 

 

PTT expects a trade war resolution at G-20 meeting while PTT businesses has been adversely affected by the trade war.

 

Trade tensions between the United States and China have already affected PTT petrochemical business as China imports fewer raw materials and petrochemical products, said Chansin Treenuchagron, chief executive officer of PTT Pcl, Thailand‘s largest oil and gas company.

 

“The PTT group has been affected since the first quarter of the year as our profit margin has narrowed down,” he said.

 

To mitigate the impact, PTT has already reduced its dependence on Chinese market and seeks new markets such as West Asian countries, he said.

 

Raw materials used to produce single-use plastics were also affected as many governments and businesses had started to ban the products due to climate change concerns.

 

However, sales of biochemical products produced by PTT is on the rise, as they are used to substitute plastic, he said.

 

Chansin expects Donald Trump and Chinese leader Xi Jinping to reach some compromises as they meet at the G-20 summit in Japan this weekend as the trade war affects every country.

 

Overall Thailand’s exports have been hit by trade tensions, leading to sinking of exports in the five months at 2.7 per cent year on year and sharply falling at 5.79 per cent in May alone. Many research houses have recently revised down their economic growth projections to 3 per cent from around 4 per cent.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30371892

 

-- © Copyright The Nation 2019-06-27

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[Chang_paarp]

I suspect the word "hopes" is more appropriate than "expects" in the headline. Don't hold your breath.

[grumbleweed]

10 hours ago, snoop1130 said:

PTT expects a trade war resolution at G-20 meeting

Have the G-20 been made aware of their expectations?

perhaps they'd also care to advise on sleeping arrangements 

[legend49]

PTT such a precious little company that wants mothering. If you cant compete in business because of global issues then get out of the race.

[DoktorC]

Nice.... PTT has spoken.... I will sleep better tonight

[Srikcir]

19 hours ago, snoop1130 said:

“The PTT group has been affected since the first quarter of the year as our profit margin has narrowed down,”

As PTT is majority state-owned, it follows whatever economic policies the State decides.

Just as does Thai Airways.

Feel optimistic now?