First entry for PTTCH in ICIS Top 100 Chemical Companies

PTTCH president and chief executive officer Veerasak Kositpaisal said the company was ranked 89th on the list, attributed to its outstanding operating results in 2010. Revenue last year was US$3.4 billion (Bt103 billion), an increase of 18 per cent from 2009. Its market capitalisation is about $6.9 billion.

PTTCH has production capacity of 2.8 million tonnes of olefins per year, and annual polymer capacity of 150,000 tonnes.

It is also listed in the Fabulous 50 of Forbes Asia |magazine.

In 2009, Veerasak was the only Thai executive in the chemical business listed in the ICIS Top 40 Power Players in this business.

Car sales jump 20.3% in August as Japan auto-makers clear bookings

Thailand's vehicle sales reached 79,043 units in August, up 20.3 per cent on year, thanks mainly to Japanese auto companies' attempts to clear huge bookings.

According to data compiled by Toyota Motor Thailand, accumulated automotive sales in the first eight months increased 19.6 per cent year on year to 583,958 units.

"The monthly sales figure rose as Japanese auto-makers, which control 85 per cent of the market, sped up production and delivery. Bookings for new and popular models are huge, waiting to be cleared," said Vudhigorn Suriyachantananont, senior vice president at Toyota Motor Thailand.

Passenger-car sales rose 26.4 per cent last month to 35,545 units, while commercial-vehicle sales rose 15.7 per cent to 43,498 units. As part of the commercial segment, 1-tonne pickups witnessed a 14.8-per-cent increase in sales to 37,309 units.

Capital rise, share swap approved ahead of Energy Earth's move in Indonesia

Energy Earth shareholders unanimously approved the company's plan to raise capital and swap shares for a stake in an Indonesian mine.

The shareholders yesterday approved an increase in capital by Bt804.9 million to Bt3.03 billion. Of the total, 444.5 million shares will be reserved for warrants to be issued to existing shareholders and 331.46 million shares will be issued to existing shareholders of Tri Tunggal Pitriati (TTP) at the price of Bt3.33 apiece or a total of Bt1.1 billion.

TTP is a licensed miner in Indonesia, with coal reserves in two mines of 7.4 million tonnes. All is bound for transport to clients in China within four years.

"The acquisition will solidify Earth's coal reserves in line with higher demand," said Khajohnpong Khamdee, managing director of Energy Earth. "This will also help expand our client base overseas, particularly China, where demand is high. We foresee higher revenue and gross margin."

The company expects that next year, its coal sales will reach 3.2 million tonnes, from 1.2 million tonnes this year. Annual revenue could then hit Bt10 billion. - The Nation