PTT positive about next year’s business outlook

[webfact]

PTT positive about next year’s business outlook

By The Nation

 

 

Despite the global slowdown, PTT is optimistic about its business outlook next year, said Chansin Treenuchagron, president and chief executive officer of PTT, the country’s largest energy conglomerate.

 

The group’s performance is also expected to be better in 2020, he said on Thursday (October 3), adding that PTT has to watch the development of Brexit and how it impacts the global economy. 

 

He added that though demands in other parts of the world might be affected, PTT still believes that the demand for oil and petrochemical products in Asia will remain high. 

 

Chansin also said the group’s profit is expected to meet the target this year, though it may be lower than last year’s profit of Bt120 billion. 

 

Also, he said, PTT’s three refinery plants – PTT Global Chemical PCL (PTTGC), IRPC and Thaioil – no longer need to be temporarily closed like they were in the first half of the year for maintenance and repair. 

 

With Christmas, New Year and Chinese New Year holidays approaching, refinery plants have accelerated their refined-oil production, leading to a wider spread margin of cost and profits, he said. However, the margin spread for petrochemical products remains flat largely due to dropping crude oil prices and the adverse impact of trade war, he said.

 

Since PTT saw positive signs, its board on September 27 approved an interim dividend payment of Bt0.90 per share, which totalled Bt25.7 billion, Chansin said. 

 

This year PTT has invested more than the target set by the government. For instance, the group acquired Glow Energy, which produces electricity for the manufacturing sector, he added.

 

Source: https://www.nationthailand.com/business/30377048

 

-- © Copyright The Nation Thailand 2019-10-04

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[neeray]

2 hours ago, webfact said:

...... PTT is optimistic about its business outlook next year ......

The group’s performance is also expected to be better in 2020

So, so easy to paint a glorified picture for 2020.

With so much upheaval going on in the world, such a prediction is perhaps a serious case of dreaming.

 

I predict that I will win a 10 million dollar lottery in 2020 (even though I seldom buy tickets).

[Cadbury]

3 hours ago, webfact said:

PTT positive about next year’s business outlook

This is fantastic news, for the already filthy rich 1%.

Pity the outlook for the Thai economy itself isn't looking so bright. Never mind the other 99% will just have to suck it up.

[quadperfect]

They only made a profit of 120 billion last year. Thats pretty bad buisness already.

[RichardColeman]

5 hours ago, webfact said:

Despite the global slowdown, PTT is optimistic about its business outlook next year, said Chansin Treenuchagron, president and chief executive officer of PTT, the country’s largest energy conglomerate.

......who later went on to say he also expected Nessy, father Christmas and Aliens to make an appearance in 2020

[Darkside Gray]

Absolute nonsense, what has Brexit got to do with PTT profits, how much oil and gas do they export to the UK, sorry this doesn't wash. 

[kevinmartyn]

Must be the only company in the world that is!

 

My gut feeling is we heading quickly to another 2008 melt-down financially!!!

 

In other words a massive economic crash!

[hotchilli]

9 hours ago, webfact said:

He added that though demands in other parts of the world might be affected, PTT still believes that the demand for oil and petrochemical products in Asia will remain high.

Until EV's eventually take over the petrol/diesel engine then watch profits drop... 

Thailand has set an import price of around 2 million baht for the Toyota Leaf (100% EV) imported from Japan, just to  put it out of reach of all but the financially secure... 

that will come back to haunt them in the future.

[Toany]

Thai Company that has a loyalty Blue card Program for Thais only.  I never buy their fuel and use other companies that don"t have Thai Only loyalty schemes

[Grumpy John]

47 minutes ago, Toany said:

Thai Company that has a loyalty Blue card Program for Thais only.  I never buy their fuel and use other companies that don"t have Thai Only loyalty schemes

Same same!  In the 10 years I have been here I can only remember buying from PTT twice.  Usually Caltex, Esso or PT.