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PTT Group profits up 74% in 2009

PTT Group of Companies reported an impressive performance result in 2009 with substantial profits of some Bt 95 billion, up 74 per cent from last year, according to their consolidated financial statements released on the Stock Exchange of Thailand (SET).

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PTT industrial estate

PTT Group of Companies reported an impressive performance result in 2009 with substantial profits of some Bt 95 billion, up 74 per cent from last year, according to their consolidated financial statements released on the Stock Exchange of Thailand (SET).

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PTT Group enjoys impressive profits in 2009

Of the total profits, Bt59.5 billion are derived from PTT with revenues of Bt1.59 trillion, Bt12 billion from Thai Oil with Bt284.12 billion, Bt9.1 billion from PTT Aromatic and Refinery with Bt255.3 billion, Bt 7.5 billion from Bangchak Petroleum with Bt108.68 billion, and Bt6.8 billion by PTT Chemical
with Bt83.95 billion.

Volumes of untreated domestic sewage, industrial wastewater and solid hazardous wastes have risen dramatically in recent years. The result is that roughly one third of Thailand’s surface water bodies are considered to be of poor quality. Clearly Thailand needs to focus on more effective enforcement of environmental laws; stronger institutional capacity, both national and local; and increased investments in pollution prevention and control, with private sector participation.

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PTT Group enjoys impressive profits in 2009

Import tariffs on machinery are waived for regional operating headquarters. The Board of Investment cancels import tariffs on machinery used in conducting research and development activities by regional operating headquarters (ROHs). This is in addition to the existing privileges such as a permission to own land and remit foreign currency abroad as well as preferential corporate and income tax rates. Looking forward, related agencies such as the Revenue Department, the Bank of Thailand, and the Department of Business Development plan to streamline other rules and regulations that help to promote ROHs in Thailand.
In January 2009, the overall economy in Thailand continued to contract from the same period last year, with continual large contractions in manufacturing production and export. Private consumption and investment trended downward, in line with a considerable drop in import. Furthermore, major crops production and price continued to decelerate, resulting in a slowdown in farm income. Nevertheless, tourism sector observed a smaller contraction. External stability remained sound with high international reserves as well as trade and current account surpluses following a marked decrease in import. Regarding internal stability, January’s inflation in Thailand turned negative for the first time since October 1999. Even though the unemployment rate remained low, manufacturing employment continued to decline.

Corporate

The environmental case for remote working

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.

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During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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