#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

PTT forges ahead with 2020 spending plan under new Energy minister

CorporateAug 18. 2020PTT president and CEO Auttapol Rerkpiboon

By The Nation

PTT will continue to its planned spending on projects this year, in line with new Energy Minister Supattanapong Punmeechaow’s policy that the national oil and gas conglomerate speed up investment to boost the economy and create jobs.

PTT president and CEO Auttapol Rerkpiboon said the state enterprise has already spent half of this year’s investment budget of Bt53.9 billion. The company also plans to recruit more workers for construction projects and on programmes to help society.

This year PTT is focused more on the liquefied natural gas (LNG) business. It plans to import up to 11 shipments of LNG this year via the spot market, of which seven shipments totalling 500,000 tonnes have already been imported.

Whether PTT would import all 11 shipments depended on domestic demand and the LNG price trend, said its president.

The company is also focused on selling LNG in overseas markets. It has already secured long-term LNG sale purchase contracts for 720,000 tonnes this year, of which 260,000 tonnes have been delivered to customers.

PTT ’s downstream businesses are creating synergy among themselves to foster competitiveness and boost investment efficiency in the petrochemical and refinery areas.

The company has no need to issue additional bonds to raise funds as it has around Bt100 billion cash in hand, said Auttapol.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Goldman sees small-business bounce with most now operating again

CorporateAug 18. 2020Goldman Sachs headquarters in New York on April 11, 2020. MUST CREDIT: Bloomberg photo by Mark Kauzlarich.

By Syndication Washington Post, Bloomberg · Michael Sasso · BUSINESS, US-GLOBAL-MARKETS 

About 2.7 million job losses in the U.S. can be attributed to shuttered small businesses since the start of the pandemic, or about 18% of the total, according to a Goldman Sachs study that found that those firms have been surprisingly resilient so far.

The report shows that the majority of employees let go in early temporary closures are now back at work. The job losses from small-business closings as of July are down from a peak of 10.7 million as of April, suggesting reopenings helped propel the better-than-expected employment reports of recent months. One caveat: active small businesses probably cut jobs as well, so the overall effects of the pandemic on employment are probably much higher, according to the Aug. 16 report.

Among optimistic economic signs is an all-time high in business formations filed with the IRS, including so-called high-propensity applications that are likely to lead to new wage-paying businesses, according to the report. Most small businesses that responded to a July U.S. Chamber of Commerce survey reported being able to sustain operations for at least another six months without permanently closing.

One major unknown is what will happen once support from the $669 billion federal Paycheck Protection Program and other aid to small businesses wears off. With little chance that a new stimulus deal may be reached in Congress before September, the next few months may proved challenging for small firms.

“Thus far, the U.S. appears to have avoided the surge in Covid-19-related permanent business shutdowns that many feared at the pandemic’s onset, likely because the PPP and other policy support helped businesses survive the sharp pullback,” the Goldman Sachs economists wrote in their study.

One troubling spot for the economy is a fairly high rate of bankruptcy filings among large companies, although most appear to have had unsustainable capital structures even before the health crisis, according to the report. Overall, bankruptcy filings by large companies could hold back U.S. employment growth by 94,000 jobs a month if they stay at their elevated levels, according to the study.

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Ratch Group unveils Bt11.3bn plan for 2nd half

CorporateAug 14. 2020

By The Nation

Power producer Ratch Group plans to invest Bt11.3 billion on new ventures in the second half of 2020. In the first six months the company has spent Bt3.7 billion of its Bt15-billion investment plan for 2020, explained Kijja Sripatthangkura, chief executive officer.

“The remaining Bt11.3 billion will be used to acquire new projects in the second half,” he said.

“The company’s financial status is still strong, enabling us to pursue future investment in order to meet Ratch Group’s targeted enterprise value of Bt200 billion by 2023,” he added.

Ratch said in the first half it expanded its capacity investment in four new power plant projects and the expansion of its existing power plant, increasing equity generation capacity by 242.62 megawatts to 8,177.68MW in total.

It also invested in infrastructure, injecting Bt280 million into Smart Infranet, a fibre optic network service provider in which it has a 51-per-cent stake, to be used for assets acquisition from ALT Telecom, which will become a foundation for revenue generation.

Kijja said that in the second half of the year, Ratch will begin to recognise revenues from three projects, including the expansion of NNEG Power Plant with 60MW generation capacity and 10 tonnes per hour of steam to industrial customers in Nakhon Ratchasima’s Nava Nakorn Industrial Promotion Zone, with nine industrial users entering the power purchase agreement.

The other two projects are the Australia 214-MW Yandin Wind Farm feeding Alinta Sales under a power purchase agreement, and Vietnam’s Thang Long Thermal Power Plant with investment through the An Binh Energy and Infrastructure Fund (ABEIF).

Ratch Group said it is also negotiating to jointly invest in on-hand overseas fossil fuel and renewable power projects, especially in Indonesia and Vietnam, with capacity prospects of 400MW to meet the company’s target this year of 537MW.

On the infrastructure side, the company is planning to build and expand its customer base in order to create income from telecoms joint ventures involving Smart Infranet Company Limited and Things on Net Co Ltd, thanks to growing prospects of the telecoms and digital technology business under “new normal” conditions following the Covid-19 crisis.

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Asia Aviation suffers big loss in Q2 from Covid-19 travel restrictions

CorporateAug 14. 2020

By The Nation

Asia Aviation Plc (AAV), a major shareholder of Thai AirAsia Co Ltd (TAA), on Friday reported a net loss of Bt1.210.6 billion for the second quarter, from a total revenue of Bt2.221 billion.

The loss was predominantly due to travel restrictions, causing significantly reduced demand and the temporary hibernation of its fleet in light of the Covid-19 situation.

The chief executive officer of AAV and TAA, Santisuk Klongchaiya, said: “With the tourism industry in Thailand and globally significantly impacted by the Covid-19 pandemic, resulting in subdued demand and travel restrictions, TAA managed to maintain minimal operations during the quarter, especially on international routes. Total revenue for the quarter decreased by 78 per cent, mainly due to the reduction in the number of passengers carried which fell by 95 per cent year on year, to a total of 283,601 passengers, the company said.

During the quarter, the number of international visitors carried by the company plunged by almost 100 per cent compared to the same period last year, while the overall load factor in the said quarter decreased to 52 per cent.

“Total expenses decreased by 63 per cent versus the same period last year, attributable to lower fuel costs and non-fuel expenses. Fuel costs fell as a result of capacity cuts and lower fuel prices, while non-fuel expenses decreased as a result of cost saving initiatives and eliminating all non-essential spending.

“We flew at only 8 per cent capacity compared to Q219 due to necessary flight cancellations and restrictions on air travel. With the situation alleviating and domestic flights gradually resuming in May, we were able to offer a number of sale promotions such as Unlimited Pass, to stimulate air travel in the latter half of the year,” Santisuk said.

The company said it was focused on seizing opportunities where there is demand during the second half of the year, including an increase in its domestic routes along with the government economic stimulus package and the introduction of new routes such as Chiang Mai-Hua Hin and Udon Thani-Hua Hin. It would also leverage on Bangkok’s additional hub at Suvarnabhumi Airport to work in conjunction with Don Mueang International Airport.

TAA expects to resume its international flight operations through travel bubble schemes with certain target markets, primarily Indo-China, China and other countries who have effectively contained the outbreak, the company said.

TAA said it welcomed the latest move by the Office of the Civil Aviation Authority of Thailand to ease restrictions on inflight services beginning with the sale of merchandise from early August which it expects to be followed with food and beverage services soon. These would further stimulate TAA’s performance in the second half of 2020, the company said.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

B Grimm bucks the trend with Q2 profit surging 62.5 per cent over 2019

CorporateAug 14. 2020Preeyanart Soontornwata 

By THE NATION

B Grimm Power Plc (BGRIM) reported a robust 62.5 per cent increase in second-quarter net profit year on year despite the economic downturn caused by the Covid-19 pandemic.

The SET-listed private power producer posted Bt1.017 billion in net profit for April-June, fuelled by the continuous expansion of its production capacity and an increase in industrial customers, said Preeyanart Soontornwata, chief executive officer of BGRIM.

The net profit attributable to the parent company is Bt1.017 billion, increasing 62.5 per cent over the same period last year, while the normalised net profit amounted to Bt1.102 billion with Bt674 million being attributable to the parent firm, a 17.2 per cent growth from the same period last year.

BGRIM’s board of directors has approved an interim dividend of 0.15 baht per share for the first half of the year.

Preeyanart said BGRIM’s financial position has remained strong as the company has since last year commenced four new power plants and two SPP co-generation acquired through acquisitions to its total installed generation portfolio which grew to 3,019MW in the mid-2020.

The two co-generation projects acquired are the B Grimm Power (AIE-MTP), formerly known as SPP 1, and Ang Thong Power Project.

BGRIM has also seen an increase in power purchase from its new industrial clients, who committed to 25MW supplies last year and another 15MW in the first half of this year.

Meanwhile, the continued improvement of power plant efficiency has contributed to BGRIM’s bottom line.

The second half of 2020 will see new industrial customers gradually connecting their systems with BGRIM’s grids, she said.

The power purchase from existing industrial clients is expected to ramp up in the period as reflected by the 17 per cent rise in their electricity consumption in July this year as compared to the monthly average level recorded in the second quarter of this year, she added.

Construction of BGRIM power projects has forged ahead with a 39MW Ray Power solar project in Cambodia and the Bo Thong Wind Farm 1 & 2 with an installed capacity of 16MW, are due for commercial operation between the fourth quarter of this year and first quarter of 2021, Priyanart said.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

CPF net profit soars amid surge in demand for pork

CorporateAug 14. 2020

By THE NATION

Charoen Pokphand Foods (CPF) reported a sharp 45 per cent jump in net profit in the first half of 2020 compared to 2019 due to the rising demand for pork amid African Swine Fever (ASF) and the company’s growing aquatic business.

The company’s net profit totalled Bt12.13 billion.

“In the first six months of 2020, CPF has generated Bt281.9 billion revenue from sales, which is 9 per cent higher from the same period last year,” CPF chief executive officer Prasit Boondoungprasert said. “Sales revenue from exports to 16 countries expanded 12 per cent year on year, while domestic sales grew 2 per cent. International sales are responsible for 69 per cent of the company’s total revenue while 31 per cent are from domestic market.”

Prasit explained that the improved revenue is the result of growing foreign businesses that the company has invested in over the past 10 years, as well as other factors.

“The ASF outbreak which has resulted in shortage of pork in Asian markets is also a factor that spurred consumers’ demand for safe food, boosting the company’s sales,” he added. “The economic contraction due to the Covid-19 outbreak has slightly affected the company’s business, as CPF’s products are items necessary for daily life, while the company’s aquatic business in Thailand is also growing rapidly.

“Furthermore, the company has adapted new technology in manufacturing as well as sales strategy to suit the changing markets. We expect to make a record profit this year,” he added.

The company’s board meeting on August 13 agreed to pay interim dividend for the first six months of 2020 at Bt0.40 per share. The list of eligible shareholders will be announced on August 31 while the payment will be made on September 11.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Cabinet gives greenlight to BMTA loan again

CorporateAug 14. 2020

By The Nation

The Cabinet has accepted the Bangkok Mass Transit Authority (BMTA)’s proposal to borrow Bt7.89 billion in a bid to boost its liquidity as it expects to lose Bt33 billion in operations next year.

Deputy government spokesperson Traisulee Traisoranakul said on Thursday (August 13) that the BMTA loan will be guaranteed by the Finance Ministry.

According to the BMTA, its revenue and expenditure for 2021 are expected to stand at Bt9.58 billion and Bt42.67 billion respectively, creating a Bt33.09 billion contraction in revenue.

“Hence, the BMTA needs to borrow Bt7.89 billion to use as circulating capital and boost liquidity on operating public transport service,” she said.

“Of the loan, Bt3.22 billion will cover fuel costs, Bt1.64 billion will cover repairs and Bt3.03 billion will be used to boost liquidity.”

She went on to say that since 2017, the Cabinet has approved loans worth nearly Bt70 billion for the BMTA as follows:

August 8, 2017: Bt2.83 billion to pay for fuel and to repair air-conditioned public transport vehicles during the 2018 fiscal year.

September 19, 2017: Bt26.78 billion for the restructuring of debt that matured in 2018 fiscal year.

February 6, 2018: Bt2.96 billion loan to repay debt that matured on March 1, 2018, and Bt2.01 billion to boost liquidity in 2018 fiscal year.

August 7, 2018: Bt15.37 billion for debt restructuring in 2019 fiscal year.

October 16, 2018: Bt9.22 billion to boost liquidity in 2019 fiscal year.

June 4, 2019: Bt11.32 billion to boost liquidity in 2020 fiscal year.

According to the Transport Ministry’s report released on November 30 last year, the BMTA had liabilities totalling Bt122.1 billion, mainly because the agency collects fare that is far lower than the actual cost, and cannot adjust it in line with the current situation.

Of its total liabilities, Bt57.67 billion is debt from government bonds with interest, Bt56.32 billion from long-term loans, Bt113 million from fuel cost, Bt252 million from repair cost, Bt1.56 billion from employee benefit obligation, Bt4.36 billion from employee pension fund and Bt1.82 billion from other liabilities.

Meanwhile, the Finance Ministry and Budget Bureau have advised the Transport Ministry and BMTA to come up with a rehabilitation plan, especially guidelines to boost revenue, reduce expenses and solutions to ease the debt problem as soon as possible and relieve the government’s burden.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

TCAP happy with first half performance, agrees to pay dividends

CorporateAug 13. 2020

By The Nation

Thanachart Capital Public Company Limited (TCAP) has announced that its performance in the second quarter and the first half of the year was quite good.

Somjate Moosirilert, TCAP’s chief executive officer, said in the second quarter, the company and its subsidiaries’ net profit stood at Bt1.35 billion, of which Bt1.03 billion accounted for TCAP’s own net profit.

“For the first six months, the company and its subsidiaries’ net profit stood at Bt5.95 billion, of Bt5.35 billion was earned by TCAP itself, marking a 37 per cent year on year increase,” he said.

However, he admitted that in the second quarter, the Covid-19 outbreak had had an adverse impact on many companies, including TCAP.

“The company’s return on investment in associates dropped because associates’ profits dropped due to the Covid-19 outbreak and lockdown measures,” he said.

“However, performance of the company’s key subsidiaries, such as Thanachart Securities, Thanachart Insurance and Ratchthani Leasing is still good.”

He added that TCAP will not use its remaining Bt15 billion for investment, because it is still risky.

“The company’s board of directors and management execs have come up with a policy to prioritise taking care of subsidiaries instead,” he said. “We will consider other investments after the Covid-19 fallout is resolved.”

He added that considering the company’s cash in hand, its first half performance and second half performance forecast, the board of directors is still confident in the business despite the recession caused by the Covid-19 outbreak.

“Hence, the board has agreed to pay interim dividends to shareholders at Bt1.20 per share, which is equal to the dividends paid last year,” he said. “The dividend will be paid on August 27.”

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CKPower performance hit by low water inflow, hopes for higher 2nd-half revenue from increased power generation

CorporateAug 13. 2020Thanawat Trivisvavet 

By THE NATION

CK Power Public Company Limited and its subsidiaries witnessed lower performance in the second quarter compared to the same period last year due to low water inflow at the Nam Ngum 2 Hydroelectric Power Plant (NN2) in summer, managing director Thanawat Trivisvavet said in a press statement today (August 13).

The volume of water inflow at NN2 in the first half of this year was approximately 867 million cubic metres, a decrease of 65 million compared to the same period last year.

As a result, the power plant’s capacity to generate and sell electricity was reduced to 409 million units, about 618 million units lower than last year’s 1,027 million.

Nonetheless, CKPower was able to sell an impressive 2.34 billion units of electricity from the Xayaburi Hydroelectric Power Plant in the first half of this year, the statement said.

Meanwhile, the Bangpa-in Cogeneration Limited plant and Bangkhenchai’s nine solar-powered plants have also been generating more electricity in the second quarter.

Overall, CKPower earned revenue of Bt3.59 billion in the first half of the year – Bt1.13 billion lower than the same period last year when the company saw earnings of Bt4.73 billion.

Mid-year electricity sales of 1.18 billion units was 618 million units lower than in 2019 – a 34 per cent decrease.

During the second quarter of 2020, CKPower and its subsidiaries earned Bt1.83 billion in revenue, which is 21 per cent lower than the same period last year, when the company earned Bt2.31 billion.

Electricity sales of 609 million units in the second quarter of 2020 were lower than the same period last year, a 29 per cent decrease.

However, the volume of recent water inflow at the NN2 reservoir was 628 million cubic metres, a 37 per cent increase from the same period last year when the inflow totalled 460 million cubic metres.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

TQM Corp seeking mergers and acquisitions in Cambodia, Laos

CorporateAug 13. 2020

By The Nation

Insurance broker TQM Corporation is in talks for merger and acquisition deals with insurance firms in Cambodia and Laos, said board chairman Unchalin Punnipa.

She added that the deals are expected to be clinched within this year.

The company is also in talks for similar M&A deals with two firms in Thailand.