Briefs

Charoen Pokphand Foods (CPF) has acquired an additional stake in Chester’s Food for nearly Bt450 million from Charoen Pokphand International, as part of a plan to extend its food business.
CPF reported to the Stock Exchange of Thailand yesterday that its board had approved the deal, bringing the company’s holding to 99.99 per cent of Chester’s Food’s paid-up capital. The price per share was Bt562.50.
The deal will allow CPF to control the management 160 Chester’s Food branches, as well as help expand CPF’s food retail outlets through the Chester’s brand.
CPF has also agreed to raise the registered capital of three subsidiaries.
The capital of Pokphand Foods Philippines Corp, an integrated shrimp and chicken business, will be increased with a view expanding production capacity.
Meanwhile, Russian unit Charoen Pokphand Foods (Overseas) will get a capital hike for the expansion of a pig farm and another Russian |subsidiary, CPF Agro, will also receive a capital boost.
 
PTT jumps 33 places in Fortune Global 500
PTT, the only Thai company listed in the 2012 Fortune Global 500, has seen its ranking rise sharply from 128th to 95th, thanks to a huge revenue increase last year.
President and CEO Pailin Chuchottaworn said the higher ranking demonstrated PTT’s potential in strengthening national energy security and assuring local and foreign investors of the country’s economic strength.
“This ranking clearly reflects the fact that PTT has become a truly international corporation,” he said.
Last year, PTT’s consolidated revenue expanded 33 per cent to US$79.69 billion (Bt2.52 trillion), while net profit rose 31.9 per cent to $3.456 billion.
Top of the Fortune list is Exxon Mobil, whose revenue jumped 28 per cent to $452.9 billion and profits surged by 35 per cent to $41.1 billion in 2011. Chevron is ranked second, with $26.895 billion in profits. – The Nation