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Significant changes and major development
The Company has approved Punthai Coffee Company Limited, a subsidiary, to acquire of shares of Jitramas Catering Company Limited or “JTC” totaling 315,000 shares, representing 69.99% of total share. JTC is a manufacturer and service provider of food and beverage business including cooked fresh food, chilled food, frozen food, and catering service for leading hotel in Thailand. PTG recognizes the potential for future business growth and to support the growth and development of the food and beverage business under the Company’s network to have same quality and standards. Furthermore, JTC could add variety of food product to meet the needs of consumers for maximum satisfaction.
The Board of Directors had approved of the Company’s participation in a joint investment with Bangkok Aviation Fuel Services Public Company Limited or (“BAFS”) to found a new subsidiary, BPTG Company Limited or (“BPTG”), with a registered capital of Baht 100 million which PTG holds 59.99% of the total shares. The objective of this joint venture is to operate service stations near the oil pipeline to the northern part of Thailand of Pipeline Transportation Limited or “FPT”. The Initial plan is to develop land near the oil depot and oil pipeline in 3 areas including Phichit, Lampang, and Kamphaeng Phet.
The Company won 2 Kaizen Awards from the Thailand Kaizen Awards 2018 on August 31, 2018. The first one is “Golden Award” from “Color Swap” team, a team from Service Station Department, with the project “Reducing Costs and Developing the product of Water Finding Paste”, which competing in the Kaizen Innovation category. Another one is “Silver Award” from “Digital Man” team, a team from Information Technology Department and Service Station Department, with the project “Reducing time to issue tax invoices” which competing in the Kaizen for Office category. The achievement of these awards will be further developed and utilized to improve the Company’s efficiency.
The Company received Innovation Management 2018 as being an organization that promotes excellent innovation. The award is granted by the National Innovation Commission, National Innovation Agency, for organizations with sustainable growth. This award will be given to organizations with innovation leadership, strategies based on innovation, effective structures, and innovative development plans on environments and employees.
The Board of Directors had approved the Company to jointly invest with Mr. Woottichai Preeputtarat in the establishment of Innoligent Automation Company Limited (“INA”) with the registered capital of 5.5 million Bath. The Company holds 59.99% of INA’s total shares. INA was established with the objective to develop management equipment and customer information storage within the service station. This will greatly increase the efficiency and accuracy of the service station management. It will also improve data processing to meet the needs of customers more comprehensively.
The Company was selected to be in Thailand Sustainability Investment (THSI) organized by the Stock Exchange of Thailand. PTG has a policy to continuously manage sustainability in all dimensions, including environment, society, and economy. The company focuses on driving the organization to grow continuously together with good corporate governance, risk management, increasing operational efficiency, and creating value with all stakeholders. However, PTG still aim to develop and raise the organization to sustainable efficiency.
The Board of Directors of the Company had approved PTG Green Energy Company Limited or “PTGGE”, a subsidiary, acquired all shares of Innotech Green Energy Company Limited or (“IGE”), a joint venture between PTGGE and Eiamburapa Company Limited (“EBP”), which has signed a joint venture agreement on 25 November 2016, PTGGE held 60.00% of the total shares. The joint venture aimed operate ethanol production and distribution from cassava pulp. However, after studying the technology together between PTGGE and EBP, concluded that ethanol production technology from cassava pulp is not suitable for commercial business in this period. In addition, the machinery used to operate the business under this project may have high maintenance costs in the future. Therefore, the Company agreed to cancel the joint venture agreement and the contract related to this project with EBP and allow PTGGE to purchase all of the shares of IGE from EBP in total of 400,000 shares for a price of 5.80 million baht. However, the Company is in the process of studying technology about ethanol production that is suitable for the business under this project and can provide a better rate of return.
The Company agreed on signing the contract of Innotech Green Energy Co., Ltd. (IGE), a subsidiary, and Sapporo Holdings Ltd. on adoption of producing ethanol from cassava pulp technology. This technology induces the production of ethanol from cassava pulp by digesting carbohydrate into glucose, which be fermented to become ethanol. This is a value-added process of cassava waste and an essential feature to improve the standard of ethanol production which enhance sustainable renewable energy in Thailand.
The Board of Directors had approved of the Company’s participation in joint investment with Sammitr Motors Manufacturing PCL to mutually establish Sammitr PTG Pro Truck Solution Center Co., Ltd. (“PRO TRUCK”) to operate a comprehensive service and maintenance center for trucks (Truck Service Center), with the registered capital of 100 million Baht. The Company holds 400,000 shares, or equivalent to 40% of the total number of shares. To date, PRO TRUCK is the first and only operator in Thailand that provides comprehensive services. However, there is a plan to expand branches both inside and outside of PT service stations of not less than 100 branches in 2022. Furthermore, PRO TRUCK already launched the first branch at PT service station in See Kew district, Nakhon Ratchasima on November 14, 2017.
The Board of Directors had approved of PTG Green Energy Co., Ltd. (PTGGE), a subsidiary, to invest in Palangngan Pattana 5 Co., Ltd. (“PP5”) together with 3 other shareholders; Ms. Lek Saechao, P&C Group Co., Ltd. (“P&C”) and Sbang Sustainable Energy Co., Ltd. (“SBANG”) to operate the waste management system for electricity generation business, with the registered capital of 300 million Baht and the total of 3 million shares. The par value is 100 Baht per share, and the Company holds 1,530,000 shares or equivalent to 51.00% of the total number of shares.
The Board of Directors had approved of Punthai Coffee Co., Ltd., a subsidiary, to purchase common stocks of GFA Corporation (Thailand) Co., Ltd. (“GFA”) of 29,530 shares at the rate of 6,948.19 Baht per share, totaling 205 million Baht, or equivalent to 99.99% of the total number of shares. GFA operates the food and beverage business under the brands Coffee World, Cream & Fudge, New York 5th Av. Deli, Coffee World Restaurant and Thai Chef Express. In this regard, this particular transaction is for the objective of increasing opportunities and capabilities to venture into the food and beverage business in potential areas outside of PT service stations such as leading department stores, community malls, and airports both in Thailand and overseas to deliver diverse products and services to existing customers and to expand coverage of customer base.
The Board of Directors had approved of the Company’s participation in the joint venture agreement with Autobacs Seven Co., Ltd. (“AUTOBACS”), which is registered in Tokyo Stock Market, Japan to invest in Siam Autobacs Co., Ltd. (“SIAM AUTOBACS”) to operate the service and maintenance center for automobiles, with the registered capital of 169.90 million Baht, comprising of 15,989,998 shares of common stocks, 1,000,002 shares of preferred stocks, with the par value of 10 Baht per share. The Company holds 6,500,000 shares or equivalent to 38.26% of the total number of shares. Autobacs is the number one brand that provides quality and comprehensive automobile services from Japan, which can also render world-standard quality service to automobile users in Thailand. In this regard, SIAM AUTOBACS planned to expand not less than 200 branches both inside and outside or PT service stations by 2022.
The Board of Directors had approved of Punthai Coffee Co., Ltd., a subsidiary, to collaborate with College of Innovation Management, Suan Sunandha Rajabhat University on an academic program. The aim is to develop a course and improve a skill of students on customer service and coffee store management to match with the market demand and support the Punthai Coffee target expansion. Besides, there is opportunity for students to engage in internship program which would encourage them to grow in their profession.
The Company issued and made an offering of debentures amounting to 1,000 million Baht with the validity of 3 years and 700 million Baht with the validity of 5 years in order to prepare for the business expansion plan as part of the Company’s strategic direction.
The Company launched PT Max Reward Application, which is available for use with smart phones and tablets, both in IOS and Android platforms. The objective of launching this application is to enable users to access their service usage information, rewards and news from the Company, so that customers’ needs are being met more accurately and comprehensively.
Khun Pitak Ratchakitprakarn, Chief Executive Officer and President, PTG Energy PCL, received Best CEO Awards 2017 for the top executive of companies registered in the Stock Exchange of Thailand. This is the second consecutive year that the award was granted, which reflects the vision in directing the strategies, determination, dedication as well as the unique potential in managing the organization, leading to strong and well-established growth.
The Company received the results from the Corporate Governance Report of Thai Listed Companies 2017 conducted by the Thai Institute of Directors (IOD), whereby the Company got assessed “Excellent” in its corporate governance performance.
The Company received the honorary trophy “Outstanding Code of Conduct 2017” from the Board of Trade of Thailand (Towards Sustainability through Good Conduct), which reflects our dedication to operate the business with the principle of corporate governance, adhering to transparency and honesty.
The Extraordinary General Meeting of Shareholders No.1/2016; 1. approved PTG Logistics Company Limited, the subsidiary, to purchase shares of Ama Marine Company Limited ("AMA"), the provider of marine and land transportation of liquid, of 518,000 shares (32.01% of the total shares) amounting to THB 621.60 million. 2. approved bond issuance in the amount not exceeding THB 4,000 million or in other currencies with the equivalent amount for the purpose of business operation and expansion.
The Company issued bonds of THB 1,700 million over 3 years to support the business expansion as per the Company's goal and strategy.
The Company was approved by the Board of Directors to establish Empire Service Solution Company Limited to provide the service of installation, inspection, repair of fuel dispensers, service stations and all types of equipment. The Company would hold 60,000 shares with the par value of THB 100 per share (60.00% of the total shares).
There was the restructuring of shareholders in Ratchakitprakan family by transferring some shares to Ratchakit Holding Company Limited to support the longterm business governance of the family. After the share transfer, Ratchakit Holding Company Limited held 25.12% of the total shares, and most of the shares are still held by the existing holders. Nevertheless, such restructuring does not impact to the company's policies and management system.
The Company launched its new engine oil product, "PT Maxnitron", with high quality by using Syn4Max technology that can increase the efficiency of base oil to synthetic oil for the engine to be clean and efficiently work. The product will be on shelf of all PT gas stations. The Company was approved by the Board of Directors for PTG Green Energy Company Limited, the company's subsidiary, to do the joint venture with Eiamburapa Company Limited in order to establish Innotech Green Energy Company Limited to produce and distribute ethanol, biofuel from cassava pulp or starch as the renewable energy expansion plan of the Company. However, the subsidiary holds 600,000 shares with the par value of THB 100 per share (60.00% of the total shares).
By the end of the year, the company had 1,407 gas stations in total, and the members of Max Card increased to 5.6 million members as of 31 December 2016, as planned.
The Company receive honorable rewards from SET "Best CEO Award" and "Best Company Performance Award."
The Company was ranked as a "Very Good" in the Corporate Governance Report of Thai Listed Companies 2015 by the Thai Institute of Directors.
The Company received a certificate of participation in the private company group of anti-corruption to support the collaboration in anti-corruption under good corporate governance which is prepared by the Prevention and Suppression of Corruption Regiment Centre (NCC).
The Company received Investor Relations Awards 2015 - the award given to the listed company that have outstanding investor relations with the market price of securities between 3,000-10,000 million baht. The award was organized by the Stock Exchange of Thailand.
The Company paid for the investment of joint venture with Tha Chang (Bang Saphan) Palm Oil Company Limited (which later changed the name to PPP Green Complex Company Limited ("PPP") at the amount of 349.80 million THB in accordance with the joint venture agreement in Palm Complex project, which was signed in November 2014 and amended in December 2014.
The Company and the joint venture partner, PPP Green Complex Company Limited, signed a contract to purchase machinery and equipment used in the production of Palm Company project.
The Company began to provide LPG service stations for LPG consumers to receive quality and standardized products and services.
The subsidiary registered a change of name from Pyrenees Oil Company Limited ("PRN") to PTG Green Energy Company Limited ("PTGGE").
The subsidiary, PTG Logistics Company Limited ("PTGLG"), was established with the paid-up capital of 1 million THB, divided into 10,000 shares with 100 THB per share. The objective is to transport, load and unload fuel, gas and petroleum product as well as other products including passengers by land, sea and air for both domestic and international transportations.
The Company signed a 7-year contract for 250 billion THB to trade oil with Thai Oil Public Company Limited from 2015 to 2021 in order to build confidence and stability in efficient product supply in accordance with the policy to expand service stations in the future.
The Company has the resolution proposed to the Extraordinary General Meeting regarding 32.01% shareholding in AMA Marine Company Limited after the approval of the Company's Board of Directors. AMA Marine Company Limited engages in liquid transportation service by both sea and land in which the Company foresees the efficiency and opportunity in the future growth of logistics business.
The Company has the resolution proposed to the Extraordinary General Meeting regarding debenture issuance at the amount not exceeding 4,000 million THB to support the Company and its subsidiaries' business operations and expansions.
The Company acquired 9.55% shares of FPT engaging in the pipeline business as the Company focused on the potential of fast and safe oil unloading as well as the future improvement.
The Company expanded its 222 PT service stations comprising of 204 COCO stations and 18 DODO stations. As a result, at the end of the year, the Company had 1,150 PT service stations in total with the increasing Max Card members up to 3.8 million members as of 31 December 2015. Furthermore, there are totally 56 E20 gasohol stations.
In December, the Company has entered into a joint venture agreement in the Palm Complex, an all-in-one project for manufacturing and distributing palm oil, starting from growing palms for production process all the way to producing Biodiesel (B100) and cooking oil. The three co-investors involved in the transaction are:
Tha Chang (Bang Saphan) Palm Oil Co., Ltd.
PTG Energy Public Company Limited
R&D Kasetpattana Co., Ltd.
In this regard, the project construction will commence in Q1/2015. Palm oil extraction plant is expected to be completed within 2016, and the entire project is expected to be completed within 2017.
The Company has opened 212 new petrol stations with 192 stations as COCO and 20 stations as DODO stations, resulting in a total of 951 petrol stations across the country at the end of the year. In addition, the Company has also increased Gasohol E20 distribution, as another viable alternative for consumers, through 22 of its petrol stations.
The Company has invested in modernizing two large-scaled petrol stations with an attractive feel and a variety of services at Khao Pho, in Prachuab Khiri Khan province, and at Chainat Rest Area, in Chainat province. The Company expects the supplementary businesses at these stations to be opened in Q2/2015.
The Phitsanulok Tank Farm was opened for operation, in January, as the 8th tank farm, located in Bueng-Pra Sub-District, Muang District, Phitsanulok province. Having the storage capacity of 7.7 ML for services rendered to 63 petrol stations in the vicinity. The tank farm will accommodate future expansion of fuel supply area coverage in the Northern part of the country. 8 provinces are currently served by the Phitsanulok Tank Farm, namely Chiang Rai, Phayao, Nan, Lumpang, Phrae, Uttaradit, Sukhothai, and Phitsanulok.
The Company officially opened another tank farm in Nakhon Sawan Province, in September, as its 9th tank farm, located in Muong Hak Sub-District, Payuhakiri District, Nakhon Sawan Province. Having the storage capacity of 6.6 ML for services rendered to 44 petrol stations in the vicinity. The tank farm will accommodate future expansion of fuel supply area coverage in the Northern and Central parts of the country. 6 provinces are currently served by the Nakhon Sawan Tank Farm, namely Chainat, Uthaithani, Nakhon Sawan, Pichit, Kampangpetch, and Tak.
The Company set its Anti-Corruption Policy and announced its inception to be used with Company personnel including the Board of Directors, Executives, and all its employees in order to ensure integrity, transparency, and morality in its business operations; social responsibility; and, consideration for all related parties through good corporate governance.
The Company places importance on human resources development as an integral part of business expansion by promoting job specialization and skills enhancement. training is provided for employees both on operative and administrative level in order to enhance their potential both through hard skills development and soft skills. This year, the human resources development comprised:
Establishing a training center in Phanat Nikhom District, Chonburi province, as the central training center for managers at PT COCO stations to ensure the same standard everywhere. This also includes a training center for logistics business personnel or Company truck drivers at Nong Khae Tank Farm, in Nong Khae District, Saraburi province. In this regard, emphasis is placed on operational safety, which is of utmost importance.
Conducting a quarterly internal communication activity via "CEO Talk" to ensure unidirectional understanding of corporate objectives and strategies for all employees.
Implementing Kaizen techniques as operational system improvement measures both on the operative and administrative levels to enhance operating efficiency and reinforce core values in continuous improvement. The activity received great cooperation from the employees, thus enabling and encouraging constructive feedbacks and suggestions for improvement, from all levels of employees, which is geared toward a more systematic operation, continuous improvement, excess time reduction, resulting in better cost management and long-term sustainability.
Setting up new IT policy to improve information system and communication network in order to efficiently support business operations. This pertains to information source quality control, critical data access security, and emergency protocols. The company has introduced ERP system for internal process support by storing information within a centralized database for ease of information linkage, while utilizing maintenance management system with equipment storage, maintenance management, and parts changing in order to effectively create and store maintenance historical information. Furthermore, the Company has created infrastructure and servers to securely and effectively improve the network.
Being certified with The International Ship and Port Facility Security (ISPS) Code, in accordance with the Department of Marine and Maritime, for the seaport at Mae Klong Tank Farm in Samut Songkhram province to prevent threats of terrorism or other unsafe acts against sea transport, ensuring the Company-valued security measures.
Implementing the CRM system for marketing and sales promotion, as well as accommodating the Max Card membership rewards program. By December 31, 2014, the number of PT Max Card holders reached 2.4 million. The Company has gathered consumer data from the CRM system and analyzed consumer behavior for each customer in order to better serve their needs and to accurately record points and prize redemption. Currently, points can now be accumulated from purchases made at Punthai Coffee.
Joining the "Full-liter petrol station campaign" and became certified by the Department of Internal Trade in accordance with the Measurement Act of 1999. Each petrol station is equipped with a standard 5-liter measuring device for calibrating and ensuring accurate volume of PT quality petroleum.
Valuing safety and control of maintenance standard for petrol stations on a continuous basis. Normally, Preventive Maintenance standard is verified every 4 months. In addition, the Company also set service standards and service quality follow-up process to ensure that services provided at the petrol stations meet the standards set by the Mystery Shopper, which serves as an excellent tool in evaluating the true quality of petrol station services. In this regard, the Company is able to improve the petrol station area management system in order to enhance transparency in managing the retail spaces more efficiently, in accordance with the Company's commitment to continuous improvement.
Being entrusted and selected as the major sponsor in Pra Dabos Foundation's Project for the second consecutive year. More importantly, the Company recognizes the importance of human capital development, thus it provided support in the forms of vocational scholarship and educational tools for students of Pra Dabos. In this regard, PTG customers nationwide had an opportunity to take part in the donation campaign, between August and September 2014, in which the donation amount contributed by the gross petrol sales volume and additional fund raising totaled Baht 15 Million.
The Office of the Securities and Exchange Commission approved the Company to offer 420 million ordinary shares at a price of Baht 3.90 each, by offering not more than 33.40 million shares to the Company's and its Subsidiaries' directors, executives and employees, and offering 386.60 million shares to general public (including the amount remained from offering to directors, executives and employees of the Company and subsidiaries). Consequently, the Company's registered capital increased from Baht 1,250.00 million to Baht 1,670.00 million. On May 30, 2013, the Company's shares were a listed stock in the Stock Exchange of Thailand and were first traded on the day.
The Company invested in Phitsanulok Tank Farm, being the 8th tank farm of the Company. The tank farm has a total capacity of 7.7 million liters for service rendered to petrol stations in 8 Northern provinces, namely Chiang Rai, Phayao, Uttaradit, Nan, Phitsanulok, Sukhothai and Phrae. It would be commercially opened in January 2014.
The Company was accredited ISO 9001 certification for receiving, storage and distribution of fuel oil (benzene and diesel) at Maeklong Tank Farm.
PTC decreased its registered capital to Baht 439.98 million by reducing the par value from Baht 100.00 each to Baht 73.33 each in order to write off PTC's accumulated loss.
The Company incorporated Pyrenees Oil Co., Ltd. ("PRN"), a subsidiary, with a registered capital of Baht 1.00 million, divided into 10,000 ordinary shares with a par value of Baht 100.00 each.
The Company incorporated Olympus Oil Co., Ltd. ("OLP"), a subsidiary, with a registered capital of Baht 1.00 million, divided into 10,000 ordinary shares with a par value of Baht 100.00 each.
The Company assigned a working group to arrange for the incorporation of Punthai Coffee Co., Ltd. ("Punthai Coffee"), a subsidiary, with a registered capital of Baht 5.00 million, divided into 50,000 ordinary shares with a par value of Baht 100.00 each. Then the Company purchased 49,997 Punthai Coffee shares from the working group at a price of Baht 100.00 each, equal to the value of shares paid up for incorporation.
The shareholders' meeting resolved to register a change of the par value from Baht 10.00 each to Baht 1.00 each, thereby the number of issued and paid-up shares increased from 125.00 million shares to 1,250 million shares. The meeting also approved the registered capital increase of Baht 420.00 million via issuance of 386.60 million shares for a public offering and issuance of 33.40 million shares for offering to its directors, executives and employees.
The Company assigned an operating panel to arrangefor the incorporation of Empire Oil Co., Ltd. ("EPO"), asubsidiary, with a registered capital of Baht 1.00 million,divided into 10,000 ordinary shares with a par value of Baht 100.00 each.
The Company assigned an operating panel to arrangefor the incorporation of Everest Oil Co., Ltd. ("EVO"), asubsidiary, with a registered capital of Baht 1.00 million,divided into 10,000 ordinary shares with a par value of Baht 100.00 each.
The Company assigned an operating panel to arrangefor the incorporation of Atlas Oil Co., Ltd. ("ATL"), asubsidiary, with a registered capital of Baht 1.00 million, divided into 10,000 ordinary shares with a par value ofBaht 100.00 each.
The Company assigned an operating panel to arrangefor the incorporation of Andes Oil Co., Ltd. ("AND"), asubsidiary, with a registered capital of Baht 1.00 million,divided into 10,000 ordinary shares with a par value of Baht 100.00 each.
The Company registered a change of name to PTG EnergyPublic Company Limited.
The Company assigned a working group to arrange for the incorporation of Pyramid Oil Co., Ltd. ("PMO"), a subsidiary, with a registered capital of Baht 1.00 million, divided into 10,000 ordinary shares with a par value of Baht 100.00 each. Then the Company purchased 9,997 PMO shares from the working group at a price of Baht 100.00 each, equal to the value of shares paid up for incorporation. Afterwards, the Company purchased 1 additional shares from the working group at a price of Baht 100.00 each, equal to the value of shares paid up for incorporation.
The Company assigned a working group to arrange for the incorporation of Alpine Oil Co., Ltd. ("APO"), a subsidiary, with a registered capital of Baht 1.00 million, divided into 10,000 ordinary shares with a par value of Baht 100.00 each. Then the Company purchased 9,997 APO shares from the working group at a price of Baht 100.00 each, equal to the value of shares paid up for incorporation.
The Company proposed Mrs. Lertlak Nadtasomboon, a shareholder of Pubadin Co., Ltd. ("Pubadin"), to invest in the Company. Mrs. Lertlak Nadtasomboon granted the Company a loan for repayment of debts (both Debt to Asset Management Company and Debt to Original Financial Institution) under the debt restructuring agreements made with said asset management company and financial institution. Mrs. Lertlak Nadtasomboon also purchased the Company's ordinary shares (Financial Lender Shares) from such financial institution, making her to become a shareholder of the Company and Pubadin to become a connected person of the Company.
PTC increased its registered capital to Baht 600.00 million by issuing 5.00 million new ordinary shares with a par value of Baht 100.00 each and offering the whole lot to the Company.
The Company entered into a debt restructuring agreement with an asset management company which had accepted a partial debt transfer from a financial institution ("Debt to Asset Management Company"). For the remaining debt not transferred to the asset management company ("Debt to Original Financial Lender"), the Company had negotiated for debt restructuring.
The Company decreased its registered capital to Baht 750.00 million by canceling the unpaid capital of Baht 250.00 million or 25 million shares.
The Company increased its registered capital to Baht 1,250.00 million by issuing 50.00 million new ordinary shares with a par value of Baht 10.00 each, 12.45 million shares of which were offered via a rights offering to existing shareholders and 37.55 million shares were offered to a financial institution according to the debt compromise agreement entered between the Company and the institution ("Financial Lender Shares").
The Company registered the conversion into a public limited company.
The Company split the share par value from Baht 100.00 each to Baht 10.00 each, thereby the number of shares increased from 5.00 million shares to 50.00 million shares.
The Company increased its registered capital to Baht 1,000.00 million by issuing 50.00 million new ordinary shares with a par value of Baht 10.00 each, 5.00 million shares of which were offered via a rights offering to existing shareholders, 20.00 million shares were offered via private placement to 7 specific investors, and 25.00 million shares remained unpaid.
The Company increased its registered capital to Baht 500.00 million by issuing, via a rights offering, 1.00 million new ordinary shares with a par value of Baht 100.00 each.
PTC undertook a shareholding restructuring. The Company became PTC's major shareholder holding a stake of 99.99%.
The Company increased its registered capital to Baht 400.00 million by issuing, via a rights offering, 1.36 million new ordinary shares with a par value of Baht 100.00 each.
The Company increased its registered capital to Baht 264.00 million by issuing, via a rights offering, 2.63 million new ordinary shares with a par value of Baht 100.00 each.
Petroleum Thai Corporation Co., Ltd. ("PTC") was incorporated on July 7, 1992 with a registered capital of Baht 100.00 million, divided into 1.00 million ordinary shares with a par value of Baht 100.00 each.
The Company was incorporated under the name Paktai Chueplerng Co., Ltd. on March 21, 1998 with an initial registered capital of Baht 1.00 million, divided into 0.01 million ordinary shares with a par value of Baht 100.00 each.