PTT switches focus to overseas growth

02-Jun-11
PTT will focus on regional growth, having reached the limit in domestic expansion, with the aim of becoming the second-largest petrochemicals player behind national brands in some countries within five years, as per The Nation. The company will also increase the sales ratio of non-oil businesses such as Amazon coffee houses, 7-Eleven convenience stores and quick-service restaurants from 20-30% to 50% in the next two to three years. The move will offset lower profit margins from oil sales. Saran Rangkasiri, executive vice president of PTT, said the company would maintain the number of PTT petrol stations in Thailand at about 1,300. "We will focus on strategic expansion, especially in neighbouring markets where we have a geographic advantage in terms of logistics and distribution of our finished oil," said Saran. He said PTT's overseas expansion would be one of the company's major strategies in the next 3-5 years. The company has 30 petrol stations in Laos, 46 in the Philippines and six in Cambodia.
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