BANGKOK, (NNT) – The global economic slowdown and trade war have caused fluctuations in energy prices. In response, PTT Public Company Limited has allocated some 30 billion baht, to invest in newer forms of energy in the Eastern Economic Corridor (EEC), while the company’s profit in 2019’s first half was reduce by higher oil prices.
PTT President Chansin Treenuchgorn has revealed the company’s financial report on the first six months of 2019, saying that the company’s revenue had increased by 9.44 billion baht year-on-year, making the company’s gross revenue 1.12 trillion baht.
The company has 55.25 billion baht profit after subtracting operational costs, which is less than the previous year by 21 percent, at 14.57 billion baht, due to higher oil pricing which is still on average below last year, effects from the trade war, and economic slowdown.
The company has made adjustments to its investment portfolio by expediting new investments, and cutting down on unnecessary spending.
In the latter half of this year, the company has investment plans in the Eastern Economic Corridor (EEC) and with startup businesses of 200 billion baht, as well as investments in Map Ta Phut industrial park and Laem Chabang port in Q4, 2019 with a 30 billion baht gross investment budget.
The company wants to make long-term investments in newer, more environmentally friendly projects such as Smart City, clean energy, and battery development for 10 years.
It is expected that oil prices in the latter half of 2019 will be between 65-68 USD per barrel.
Governments most exposed to coronavirus have strong fiscal and external buffers
Moody’s baseline assumption is that the economic effects of the outbreak will continue for a number of weeks, after which they will tail off and normal economic activity will resume.
As measures to contain the coronavirus and fear of contagion hit consumption and production, downside risks to our GDP growth forecast for China (A1 stable) have increased., says Moody’s Research Announcement.(more…)
Bank cuts Thai 2020 GDP growth outlook to 2.7%
SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019
SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.(more…)
BOI steps up investment promotion measures in the EEC
The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.
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