Bangkok--15 Aug--PTT Public Company Limited
Mr. Prasert Bunsumpun, President of PTT Public Company Limited (PTT), revealed the company’s first half earnings that PTT and subsidiaries reported total sales revenue of Bt583.62 billion and the profit gained from its operation of Bt48.25 billion which equivalent to 8% of total sales revenue. Large portion of the profit came from the share of net income from investment under the equity method. Moreover, PTT also realized Bt7.13 billion gain from selling of Rayong Refinery Public Company Limited (RRC) shares. RRC was bought from Shell by PTT in late 2004, and a portion of shares in RRC was distributed in mid 2006. Thus, as of ending the second quarter this year, PTT and subsidiaries showed Bt688.71 billion in total assets; total liabilities were Bt376.89 billion; and shareholders’ equity at Bt311.82 billion.
Mr. Prasert said the continuous growth of PTT’s earnings help strengthen its financial status and boost its investment capability on energy procurement projects. Under the company’s 5-year investment plan between 2006 — 2010, PTT requires more than Bt240 billion worth of investment. Major investment or about Bt175 billion will be poured into the natural gas businesses, especially the businesses on procurement and transportation. About Bt50 billion will be the investment in the petrochemical and refining sectors, and about Bt13 billion will go to the oil business. All investments will create stability toward the country’s energy sources as well as the strong foundation for the Thai economic development.
Mr. Prasert added that positive earning result of PTT has allowed the company to provide higher remittance (in terms of tax and dividend) to the government. Between 2006 to 2010, it is expected that total remittance from PTT Group would reach Bt300 billion or 200% higher than Bt100 billion paid by the Group between 2001 — 2005. Higher earnings also allow PTT to be more active on its social and environmental development programs. Amid the continuity of social support programs, PTT recently won the Best Corporate Social Responsibilities (CSR) Award from the Stock Exchange of Thailand.
In addition, the strength of PTT helps attract investors’ confidence both from local and abroad toward the Thai economy. In 2006, PTT was ranked the 265th on the World’s Largest Corporations by Fortune Global 500 and the 372nd on Forbes Global 2000.