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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).

Aishwarya Gupta

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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.

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