Mon, January 24, 2022


PTTGC keeps eye out for opportunities after Covid

PTT Global Chemical (PTTGC) is reviewing its investment plans for the post-Covid period, Kongkrapan Intarajang, PTTGC’s chief executive officer, said after the shareholders’ meeting on Tuesday (June 2).

He said the company was also looking into opportunities for acquisitions and mergers in order to expand, reduce risks and maintain liquidity.
“The company has studied merger and acquisition opportunities in special grade chemicals, which may expand further in the global market,” he said. “We expect to conclude on this plan within the year once business performance is reviewed after the Covid-19 outbreak comes to an end.”
He said the PTTGC board has also given the green light to issuing US$4 billion (Bt126 billion) worth of debentures within a five-year time frame (2020-2024) to maintain liquidity and cash flow.
“Of the debentures to be issued, $3 billion will be used to repay those that will reach maturity, while the remaining $1 billion will be used to invest in projects that have been approved,” he said.
“In the next five years, PTTGC will have to repay $2.78 billion worth of debentures, while projects that have been approved account for $1.05 billion.”
As per the PTTGC debenture repayment plan, Bt8.16 billion will be repaid this year, Bt22.1 billion in 2021, Bt34.9 billion in 2022, Bt5.96 billion in 2023 and Bt14.7 billion in 2024.
At the end of 2019, the company took Bt105 billion in loans, of which Bt69.2 billion was taken in baht and Bt35.8 billion in foreign currencies.

Published : June 03, 2020

By : The Nation