PTT admits talks with refinery investment partners, no conclusion yet

eFinanceThai··THAE·Read original
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Summary · why it matters

PTT or PTT Public Company Limited has admitted that it is in talks with several partners to jointly invest in its refinery and petrochemical businesses, but has not yet reached an agreement with any of them. It emphasized that the process will be considered carefully to strengthen long-term stability and maintain its position as the major controlling shareholder. Ms. Pattaralada Saengsang, Chief Financial Officer of PTT, informed the Stock Exchange of Thailand that seeking strategic partners is one of the approaches being considered to enhance competitiveness, address excess production capacity, and cope with volatility in the global energy market. Meanwhile, Phillip Securities stated in its analysis that ADNOC is interested in buying shares in PTT's refinery group, which aligns with such a strategy, and views this as a short-term positive factor for TOP and IRPC. It maintains a 'buy on weakness' recommendation for PTT with a fundamental price of 40.00 baht, expecting a dividend yield of approximately 4-6% this year.

Impact on assets 3

Energy Transition & Power Demand▲ · 2 stocks
PTT Public Company Limited
PTT
± MixedCapitalrelevance

PTT is in talks with partners for refinery/petrochemical investment, but no agreement yet; analyst maintains buy on weakness.

Energy▲ · 1 stocks
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