The retail business arm of oil giant PTT is expanding its international business, with a particular focus on Cambodia which they consider their second home, to support sustainable growth.
Disathat Panyarachun, CEO of PTT Oil and Retail Business Pcl (OR), revealed the company’s strategy and direction for conducting international business to enhance the strength of its operations.
They aim to diversify their business, such as by selling LPG and asphalt, and expanding international operations with OR’s partners, including K-NEX Corporation, the owner of the Otteri Wash & Dry convenience store brand, and Dusit Foods Limited, as well as opportunities to grow with partners in the region through various potential investments.
The goal is to more than double the earnings before income tax, depreciation and amortisation of the global business group to 15% of total in 2027, up from 7%, or 846 million baht in the first quarter of 2023.
For Cambodia, a country where OR conducts international business, it is like a second home, as there are still plenty of growth opportunities.
As of August 2023, OR’s Mobility business group operates 169 PTT Station branches and 7 product warehouses, along with the lubricant business PTT Lubricants. They have also invested in a joint venture to provide aviation fuel at a new international airport in Phnom Penh, scheduled to be completed in the third quarter of 2024. In the Lifestyle business group, there are 231 Café Amazon branches and 65 convenience stores.
OR plans to invest in infrastructure to support the expansion of businesses such as oil and LPG warehouses, asphalt mixing plants, and explore opportunities in other energy-related businesses like Battery Swapping and EV station Pluz.
Source: The nation