PTT chief dismisses allegations against largest, listed state firm

[JesseFrank]

Yes because I am in the business

Because you're a contracted welder doesn't mean you're in the business, but even you should know that there are different grades of crude.

[Soutpeel]

Yes because I am in the business

Because you're a contracted welder doesn't mean you're in the business, but even you should know that there are different grades of crude.

I am not a contracted welder, yes different grades of crude but your not putting crude in your car are you ?, you do know how petrol and other fuels are produced don't you ? And you are aware of the API specifications etc.....I can debate this Sh*t all day if you wish

[ikke]

Hard to believe that the director of the largest energy company in all thailand is only making a little more than the average foreign teacher.

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Are you telling us an average foreign teacher takes a little less than a million a month ? What are they teaching ?

[Soutpeel]

Hard to believe that the director of the largest energy company in all thailand is only making a little more than the average foreign teacher.

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Are you telling us an average foreign teacher takes a little less than a million a month ? What are they teaching ?

Creative writing 101 LOL

[HUAHIN62]

To reinstate price controls on fuel and liquefied petroleum gas (LPG) fully, "We would have to find a big budget, which we don't have. Many people may feel worried, like myself, that we are going back to populism."

Anyone else think of Rice when hearing this ?????

The rice scheme cost the country less than the energy subsidies over the same time. At present the "loss" of the rice scheme is estimated at less than B 500 bn (over 3 years) and the energy subsidies was +- B 520 bn. That is why I always laughed at the people that suggested the rice scheme will bankrupt the country, they saw the bull the china shop but missed the elephant next to the bull. Both are a waste of money and could have paid for the upgrade to double rail tracks, new expressways, expansion of the MRT and flood prevention schemes as in the B 2 tn project proposal. After 3 years of these 2 subsidies what can you show for the money spend - NOTHING !!

[lomatopo]

The rice scheme cost the country less than the energy subsidies over the same time.

Careful now, no need informing the masses on reality.

[thesetat2013]

Hard to believe that the director of the largest energy company in all thailand is only making a little more than the average foreign teacher.

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Are you telling us an average foreign teacher takes a little less than a million a month ? What are they teaching ?

Creative writing 101 LOL

Since the average lowest salary for teacher is about 400,000 a year and since i personally know many teachers making a million a year i would have to argue you about my creativeness

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[Soutpeel]

Hard to believe that the director of the largest energy company in all thailand is only making a little more than the average foreign teacher.

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

Are you telling us an average foreign teacher takes a little less than a million a month ? What are they teaching ?

Creative writing 101 LOL

Since the average lowest salary for teacher is about 400,000 a year and since i personally know many teachers making a million a year i would have to argue you about my creativeness

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

"A year" dear boy, the discussion point was "per month"

Your obviously not teaching English comprehension

[JRSoul]

To reinstate price controls on fuel and liquefied petroleum gas (LPG) fully, "We would have to find a big budget, which we don't have. Many people may feel worried, like myself, that we are going back to populism."

Anyone else think of Rice when hearing this ?????

The rice scheme cost the country less than the energy subsidies over the same time. At present the "loss" of the rice scheme is estimated at less than B 500 bn (over 3 years) and the energy subsidies was +- B 520 bn. That is why I always laughed at the people that suggested the rice scheme will bankrupt the country, they saw the bull the china shop but missed the elephant next to the bull. Both are a waste of money and could have paid for the upgrade to double rail tracks, new expressways, expansion of the MRT and flood prevention schemes as in the B 2 tn project proposal. After 3 years of these 2 subsidies what can you show for the money spend - NOTHING !!

Similar numbers, but nothing similar in their application. The former benefits all Thais, while the rice scheme was aimed at a section of the populace who directly supports the party offering it. The opportunities for profiteering and corruption, taken up enthusiastically and with little attempt to minimise, are also vastly different.

Can you point out to me how those implementing a fuel subsidy directly profited in the manner of land-owning PTP politicians profitted from the rice scam?

[Soutpeel]

To reinstate price controls on fuel and liquefied petroleum gas (LPG) fully, "We would have to find a big budget, which we don't have. Many people may feel worried, like myself, that we are going back to populism."

Anyone else think of Rice when hearing this ?????

The rice scheme cost the country less than the energy subsidies over the same time. At present the "loss" of the rice scheme is estimated at less than B 500 bn (over 3 years) and the energy subsidies was +- B 520 bn. That is why I always laughed at the people that suggested the rice scheme will bankrupt the country, they saw the bull the china shop but missed the elephant next to the bull. Both are a waste of money and could have paid for the upgrade to double rail tracks, new expressways, expansion of the MRT and flood prevention schemes as in the B 2 tn project proposal. After 3 years of these 2 subsidies what can you show for the money spend - NOTHING !!

Similar numbers, but nothing similar in their application. The former benefits all Thais, while the rice scheme was aimed at a section of the populace who directly supports the party offering it. The opportunities for profiteering and corruption, taken up enthusiastically and with little attempt to minimise, are also vastly different.

Can you point out to me how those implementing a fuel subsidy directly profited in the manner of land-owning PTP politicians profitted from the rice scam?

The fuel subsidy was intended to stabilise fuel costs in Thailand in times of fluctuating imported fuel costs, the intent is not even close to what was pulled during the rice scam, the fuel is/was a good idea, the rice scam was just that a scam

[lomatopo]

The former benefits all Thais

Meh. Certainly benefits those who have cars, of course.

[monkeycountry]

all energy profits should be capped under law to a max of 10%....if thats not enough then the business is flawed, these are natural resorces that belong to the people to start with

Last year PTT had a turnover of close to 3 trillion Baht and a profit of less than 100 billion, or in other words, about 3% profit.

PTT (not the oil fund) subsidices natural gas to the tune of 20 billion / year. In other words, they are losing 20 billion on that part of their business, instead of making a profit, in order to keep consumer prices low.

I am not sure how PTT can make even less money and still be of interest to any shareholders? It's price/earning ratio is already among the lowest on the SET.

[monkeycountry]

Just on PTT web site looking at the Annual Report, its dated 2008? What happened to 2009, 2010, 2011,2012 and maybe 2013? Now thats a crime? The board and management team are also diiferent. Does the armed services got to have a seat on this board?

The fact that they are not accounting on their web page by showing information that needs to be up to date is very strange?

I know if you looked at a company here in Oz with that type of info on their home page, hard to think why one would invest in a company that seems to show contempt to the market place?

I don't know about PTT's website, but all the info you need is on set.or.th, where most investors look for it. PTT, like all other listed companies, are required to submit quarterly reports, annual reports as well as a number of other reports to the SET, and they are all published on the SET website.

[monkeycountry]

Hard to believe that the director of the largest energy company in all thailand is only making a little more than the average foreign teacher.

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I'd like some of that foreign teaching action then!

Obviously you wouldn't qualify for such a salary as a "teacher" cos ya can't read......which schools pay USD 30k/m for a scabby little runt in polyester work shirt and unpolished shoes ?

PTT's CEO says he earns over 1m ThB per month (wonder what he really means by 'over"?).

TS2013 conpare that salary to that of the average foreign teacher. Must be joking, no one would pay that.

MCA makes another joke.

Your post - ??? Maybe you need to chill and read more slowly

You forgot the word "just".

"He said he received just over Bt1 million a month"

"Just" in this case means he makes a little bit more than 1 million / month. Ie. 1.1 or 1.2 million perhaps, but not 1.8 or 1.9 million. Anyway, even if he did make 2 or even 5 million baht / month, it is a really low salary compared to what his peers at most foreign oil companies of similar size get.

[Chris Lawrence]

Just on PTT web site looking at the Annual Report, its dated 2008? What happened to 2009, 2010, 2011,2012 and maybe 2013? Now thats a crime? The board and management team are also diiferent. Does the armed services got to have a seat on this board?

The fact that they are not accounting on their web page by showing information that needs to be up to date is very strange?

I know if you looked at a company here in Oz with that type of info on their home page, hard to think why one would invest in a company that seems to show contempt to the market place?

I don't know about PTT's website, but all the info you need is on set.or.th, where most investors look for it. PTT, like all other listed companies, are required to submit quarterly reports, annual reports as well as a number of other reports to the SET, and they are all published on the SET website.

Thanks monkey. Yeah looking at their site that is all I found. This is what I do in Oz to view company info.

I just went to the site and just started to download the annual report.

Who's a silly billy? don't mind getting corrected with the right info; bit of a minefield looking for some info to understand what is happening.

3% why would you get up each morning?

Well the boss is probably only worth 'just over 1 million baht a month'?

[bigbamboo]

I'm amazed anyone would have any doubts about the integrity of an oil company.