Zipmex Thailand CEO and co-founder Akalarp Yimwilai said on Monday that Zipmex Global has not filed for bankruptcy in Singapore, as earlier reported and widely shared on social media.
Akalarp said Zipmex Global has instead sought approval from a Singapore court for a moratorium on legal action over its debts due to its problematic ZipUp+ product.
Any order issued by the Singapore court would have no impact or legal binding on customers of Zipmex Thailand who invested in ZipUp+, he said.
Zipmex Thailand’s clients would still have full rights to their digital assets deposited in ZipUp+, he added.
ZipUp+ offered Zipmex customers interest of up to 10 per cent to investors who deposited cryptocurrencies such as bitcoin and Etherium.
However, US$53 million of ZipUp+ deposits was then deposited with crypto lenders Babel Finance and Celsius, which have since filed for bankruptcy protection.
Zipmex Thailand disabled the product on July 20.
Akalarp said 60,000 to 70,000 Thai investors have deposited a total of around 2 billion baht in ZipUp+.
He said that if the Singapore court approves the debt moratorium request, Zipmex Global would need investors to inject fresh capital so it could return digital assets to its clients. Zipmex is reportedly in negotiations with potential investors.
PTTEP MENA Limited together with Eni Abu Dhabi B.V. announce another significant gas discovery in Abu Dhabi Offshore Block 2, paving the way to establishing a strong presence in the United Arab Emirates (UAE).
Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that Eni Abu Dhabi B.V., the operator, and PTTEP MENA Limited, PTTEP’s subsidiary as the partner, have made another significant gas discovery, in a deeper zone, of the first exploration well XF-002 in Abu Dhabi Offshore Block 2.
The gas-bearing reservoirs were tested with excellent flow rates, and fast-track development options are currently under evaluation. After this well, PTTEP and Eni will continue drilling nearby prospects to further evaluate potential of the block.
“We are delighted to announce another gas discovery in the UAE, which is one of the major discoveries that we have made in the most recent years. The combined preliminary estimated raw gas in place from the February 2022 discovery, at a shallower depth and this new discovery is 2.5 – 3.5 trillion cubic feet (TCF). We are eager to push forward the development program of the project and we believe the consortium can assemble capability, experience, and technology to accelerate field development and production to support the UAE’s gas self-sufficiency mission” said PTTEP’s CEO.
Abu Dhabi Offshore Block 2, located in the northwest of Abu Dhabi, covers an area of 4,033 square kilometres.
PTTEP and Eni were awarded Offshore Block 2 in 2019 from the Abu Dhabi National Oil Company (ADNOC) following its first-ever open block licensing round to maximize value from substantial hydrocarbon resources to increase petroleum output of the UAE. Eni Abu Dhabi B.V. is the operator of the project with 70% participating interest. PTTEP MENA Limited holds the remaining 30%.
In partnership with Eni, PTTEP presently invests in 4 projects in the UAE, namely Abu Dhabi Offshore 1, Abu Dhabi Offshore 2, Abu Dhabi Offshore 3 and Sharjah Onshore Area C. These are all under exploration phase.
Based on the company’s performance, on July 29, 2022, the Board of Directors approved the interim dividend payment for the first six-month operating results at THB 4.25 per share.
PTTEP revealed its first-half of 2022 operating results with an increase in average sales volume primarily from Oman Block 61 Project and G1/61 Project.
During the period, the company has accelerated the execution of G1/61 Project work plan for raising up gas production rate to ensure national energy, initiated the development of CCS project and pursued to invest in beyond E&P businesses in response to the changing industry landscape amid the energy transition and to support the Net Zero Greenhouse Gas (GHG) Emissions target. The Board of Directors approved the interim dividend payment at THB 4.25 per share.
Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), said that after assuming the operatorship of G1/61 Project in April, PTTEP has already installed 2 wellhead platforms and laid 8 subsea pipelines. The installation of 6 more wellhead platforms is targeted for completion within this year. The company is also geared up to drill more production wells ramping up the production rate to meet the condition in the Production Sharing Contract (PSC). This will accommodate energy demand and strengthen national energy security. For overseas operations, PTTEP successfully started oil production from Algeria Hassi Bir Rekaiz Project in the second quarter with target production volume of 13,000 barrels per day.
In support of the company’s ambitious target to achieve Net Zero GHG Emissions by 2050 in its move toward a low-carbon organization, PTTEP has initiated Thailand’s first Carbon Capture and Storage (CCS) project at Arthit gas field in the Gulf of Thailand to reduce carbon emissions. The company expects to announce its Final Investment Decision (FID) in late 2023.
On another front, PTTEP has joined hands with experienced Japanese partners for the study and development of CCS in other parts of Thailand. Together with PTT Group, CCS Hub Model is launched with an aim to reduce GHG emissions from PTT Group’s operations and neighbouring industries. Furthermore, PTTEP recently collaborated with PTT Group’s members, the public sector and other private enterprises to establish “Thailand CCUS Consortium” for the study and adoption of Carbon Capture, Utilization and Storage (CCUS) for Thailand’s industrial sector. These endeavours will give concrete support to Thailand’s commitment toward Net Zero GHG emissions.
On the progress of the Ocean for Life strategy shaping to conserve and rehabilitate marine ecosystems, PTTEP teamed up with Hydro-Informatics Institute (Public Organization) and Kasetsart University’s Faculty of Fisheries to launch the Ocean Current Mapper project to collect data for oceanic circulation, life cycles of marine life as well as trail of oceanic waste and microplastic. The data through a satellite system can also support warning systems and the study of climate impacts. The first set of buoys was launched near Arthit gas field, being Thailand’s first offshore tool for the study of oceanic currents. More buoys will be gradually launched on monthly basis until mid-2023, aiming to monitor ocean health and marine biodiversity, which is crucial for marine conservation.
On the 6-month financial performance of 2022, PTTEP generated total revenue of USD 4,543 million (equivalent to THB 153,528 million), increasing by 28% compared to USD 3,546 million (equivalent to THB 109,658 million) in the same period of 2021. The key contributions were an improvement in average sales volume to 446,519 barrels of oil equivalent per day (BOED), an 8% increment from 413,168 BOED a year ago. Contributions to higher sales volume were mainly from Oman Block 61 Project and G1/61 Project (Erawan, Platong, Satun and Funan fields), along with an increased selling price resulting from global crude oil price escalation.
With all the aforementioned, PTTEP recorded a net profit for the first half of the year at USD 918 million (equivalent to THB 31,119 million), a 54% growth when compared with USD 598 million (equivalent to THB 18,673 million) a year ago. The unit cost was USD 27.72 per barrel of oil equivalent (BOE), while the Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) margin stood at 76%.
For the second quarter of 2022, the company’s total revenue was at USD 2,469 million (equivalent to THB 84,955 million) and net profit of USD 600 million (equivalent to THB 20,600 million), rising by 89% compared to USD 318 million (equivalent to THB 10,519 million) in the first quarter this year. The growth was driven by the higher average sales volume and coupled with the elevated average selling price in line with the global crude oil price.
Remittance for country development
First half of 2022, approximately THB 50,000 million was paid by PTTEP for the company’s income tax, royalties, production bonus and other remuneration. This strongly supports national development in various areas such as community, education, and research & development (R&D) funds.
The approval of interim dividend payment at THB 4.25 per share
Based on the company’s performance, on July 29, 2022, the Board of Directors approved the interim dividend payment for the first six-month operating results at THB 4.25 per share. The record date to entitle rightful shareholders who may receive the dividend will be on August 16, 2022, and the payment date will be on August 26, 2022.
“The performance of the first half reflected the achievement of our business operations as well as social and environmental contributions as planned. During this period, the company has been exploring for investment opportunities in new businesses (Beyond E&P) in support of energy transition, enhancing competitiveness on our path towards a low-carbon organization and sustainable growth. We witnessed progress on several fronts including CCUS. PTTEP has also started the development of a 10-megawatt solar farm at S1 Project. Harnessing power from renewable energy for the project’s internal use will help reduce carbon emissions. It is expected to be operational in the first quarter of 2023. We are gearing up to invest more in other new businesses and we look forward to updating the progress in the near future,” Montri said.
Thailand Post began issuing its first collectible crypto stamps on Monday, Thailand Post president Danan Suphatthaphan said.
The limited edition of 50,000 NFT (non-fungible token) stamps has been launched to mark the 140th anniversary of Thailand Post, Danan said.
The special stamps are a hybrid collection available exclusively at ThailandPostMart.com.
Buyers get a paper stamp with a face value of Bt140, which can be used to send parcels with Thailand Post. Each stamp is printed with a hidden code, revealed by scratching its surface. The hidden code can be used to redeem an NFT stamp, the president said.
Each NFT stamp features unique artwork and colours. All are adorned with the postal service’s logo, post box, and other symbols of Thailand Post. Leading Thai artists have given each NFT stamp a unique design to create collectible crypto items.
Danan said Thailand Post is the first postal service in Southeast Asia to produce NFT stamps, following similar initiatives by other countries including Austria, Switzerland, United Arab Emirates and the Netherlands.
EGAT has prepared five measures to deal with the Malaysian-Thai Joint Development Area (JDA-A18) natural gas supply cut due to annual maintenance during August 1-14, 2022 and ensured that there will be no effects on electricity users of the South.
Cooperation from all sectors in the South to save electricity between 6.00-9.30 p.m. is also requested.
Kitti Petchsanthad, Deputy Governor – Transmission System of the Electricity Generating Authority of Thailand (EGAT) revealed that the Malaysian-Thai Joint Development Area (JDA-A18) of PTT Public Company Limited (PTT) is scheduled for its annual maintenance from August 1-14, 2022, totalling 14 days, resulting in disruption of natural gas supply to Chana Power Plant in Songkhla Province, which is an important source of power generation of the South.
EGAT has prepared for the supply cut by ordering Chana Power Plant to replace natural gas with diesel oil for power generation and implementing five measures to ensure no overall effects on electricity users as follows:
• Fuel: Reserving sufficient diesel oil to operate Chana Power Plant during the supply cut as well as having a back-up plan if the operation is behind schedul
• Generation: Preparing Chana Power Plant to use diesel oil while coordinating with other power plants in the South, namely Khanom Power Plant and Krabi Power Plant; renewable power plants, namely Rajjaprabha Dam, Bang Lang Dam, and Ban Santi Hydropower Plant; and Small Power Producers (SPPs) to operate at full capacity with the total generating capacity of 2,914 MW (sufficient for the 2,500-MW forecasted peak demand of the South), as well as planning to receive power from Malaysia immediately in case of emergency
• Transmission: Supplying additional power of 800-1,100 MW from the Central via the 500 kV Bang Saphan 2 – Surat Thani 2 – Phuket 3 Transmission Lines, checking the transmission lines and important equipment, and halting maintenance that will affect power system security
• Personnel: Arranging a team to monitor the situation closely 24/7 and to coordinate with related agencies in case of emergency
• Electricity users: Requesting cooperation from the business sector, industrial sector, and the public to save electricity from August 1-14, 2022, especially between 6.00-9.30 p.m., which is during peak demand
“EGAT has prepared measures to fully handle the JDA-A18 natural gas supply cut and will monitor the situation closely to resolve emergency situations immediately. The public can be confident that the power system of the South will be secure and sufficient, and there will be no effects on their daily lives,” Kitti Petchsanthad added.
BTS Group Holdings Public Company Limited or BTS Group recently organised the Annual General Meeting of Shareholders 2022 on July 25, 2022, at the Bangkok Convention Center, 5th floor, Central Plaza Ladprao.
Pictured here, Mr. Keeree Kanjanapas (center), Chairman of the Executive Officer and Chairman of the Sustainability Committee; Mr. Kavin Kanjanapas (left), Chief Executive Officer and Chief Officer of MATCH Business; and Mr. Surapong Laoha-Unya (right), Executive Director and Chief Officer of MOVE Business.
The Meeting of Shareholders has approved the final dividend payment for the fiscal year ended March 31, 2022 at the rate of Baht 0.16 per share (16 Satang per share) to the shareholders of the Company appearing in the shareholders’ register book on the record date of August 4, 2022, where the names of the shareholders are entitled to receive the dividend payments are determined and the dividend payment date is set on August 23, 2022.
Previously, the interim dividend payment had been paid to the Company shareholders on February 24, 2022 at the rate of Baht 0.15 per share (15 Satang per share), from the total dividend payment at the rate of Baht 0.31 per share (31 Satang per share) or equivalent to the total dividend payment in the amount of approximately Baht 4,081.4 million from the net profit and unappropriated retained earnings.
BTS Group is a multi-industry conglomerate that operates sustainable business through participation within communities and society development with awareness of environmental stewardship. It is the first and only rail mass transit company to be certified as carbon neutral. The Company’s operational standard has been certified and awarded in various categories both domestically and internationally. The Company has been listed in the Dow Jones Sustainability Indices (DJSI), in the Emerging Markets indices for 4 consecutive years and is ranked first globally in the Transportation and Transportation Infrastructure for 2 consecutive years. Moreover, BTS Group has also been listed in the S&P Global Sustainability Yearbook 2022 with the Gold Class distinction in the Transportation and Transportation Infrastructure Sector, of which only 75 companies were selected as Gold Class among 7,500 companies worldwide. We are renowned as the world’s most sustainable transportation company.
BTS Group strives to improve the quality of life and well-being of people through the integration of core businesses. The Group has developed and created an innovative ‘3M strategy’ comprising MOVE, MIX, and MATCH, leading to unlimited business growth.
PTT Exploration and Production Public Company Limited (PTTEP) received bronze award in the category of “Succession Planning Strategy” from the Employee Experience Award 2022, Singapore.
The Award is for efficient transformation of Succession Planning Strategy that recognized PTTEP’s strong commitment and continuous development of human resources readiness to support sustainable business operations.
The award ceremony was organized by Human Resources Online, a human resource media in Asia.
Toyota Motor Thailand (TMT) has enjoyed a 24.4 per cent growth in car exports in the first half of this year. As many as 179,730 vehicles were shipped overseas, thanks mainly to the weaker baht, TMT president Noriaki Yamashita said.
The company aimed to export 380,000 Toyota cars this year, up 29.8 per cent from last year.
He attributed the increase to economic recovery in purchasing countries, which have revived demand for new vehicles.
Market analysts also pointed to the weaker baht, which traded at over 36 baht per US dollar on Thursday.
TMT is expected to manufacture a total of 659,400 cars this year, a 28.3 per cent increase from last year, according to Yamashita. The figure was revised upwards from 647,000 when he held a press conference early this year.
“Due to the government’s economic stimulus measures, the Thai economy is expected to recover in the latter half of the year,” he said.
The TMT president predicted a total output of 880,000 from all car manufacturers in Thailand this year, a 16 per cent hike from last year.
Toyota alone aims to sell 290,000 cars this year, up 21 per cent from last year, according to Yamashita.
That represents a 33 per cent share of the Thai market. The figure was increased from the original target of 284,000.
In the first six months of the year, a total of 870,109 vehicles were manufactured in Thailand, a 3.02 per cent increase from the same period last year, according to Surapong Paisitpattanapong, vice chairman and spokesman for the Federation of Thai Industries’ automotive industry division.
He said 442,578 of them, or 51 per cent of the output, were exported. That was a decline of 8.98 per cent from the same period last year.
Total exports of cars, motorcycles and parts were worth 442 billion baht in the first six months, down 1.31 per cent from the same period last year, according to Surapong.
OR to invest in Traveloka, a travel and lifestyle services platform, and expand its business into travel sector and strengthen OR’s lifestyle business
PTT Oil and Retail Business Public Company Limited (“OR”) will invest in Traveloka, Southeast Asia’s lifestyle superapp and a leading online platform for travel and local services in Southeast Asia, through its subsidiary, PTTOR International Holdings (Singapore) Pte. Ltd. (“SGHoldCo”). This is a major step for OR to expand into the travel sector and strive to become a one-stop solution for all lifestyles.
Jiraphon Kawswat, President and Chief Executive Officer of OR hosted a signing ceremony of the Collaboration Agreement between OR and Traveloka on July 26, 2022, where Ferry Unardi, Co-Founder and CEO of Traveloka was also present.
According to Kawswat, the travel sector is an area of focus for OR as tourism is one of the major economic contributors to the Thai economy. The tourism sector employs a large portion of the Thai population and many Thai SMEs are also reliant on this segment. The travel sector in Thailand and Southeast Asia has enjoyed high growth rates prior to the COVID-19 pandemic and is expected to rebound quickly following the easing of travel restrictions and the recovery in travel demand.
Collaborations between OR and Traveloka will provide additional lifestyle solutions to OR customers in line with OR’s strategy to become a one-stop solution for all lifestyles.
This collaboration will also provide growth opportunities to both OR and Traveloka in domestic and international markets in accordance with OR’s strategy to focus on Outside-In Growth, as both OR and Traveloka seek new investment opportunities together with partners to provide more solutions to address customers’ needs.
In addition, this will also create new opportunities for Thai SMEs and Thai individuals in the travel sector to grow together with OR.
“OR foresees many opportunities and possibilities that we can realize from this collaboration. Not only can this partnership provide new opportunities to OR in the travel sector, it can also provide additional venues for OR’s existing partners and business alliances to grow together with OR and to deliver greater offerings and experiences to OR customers. Given Traveloka’s position as a leading online platform for travel and local services in Southeast Asia and its strong technology capabilities, I believe there is a range of areas OR can explore together with Traveloka to further enhance our tech capabilities”, said Kawswat.
This collaboration is also a positive step in furthering Traveloka’s mission of fulfilling the aspirations of its users and allowing its merchant-partners to thrive.
“We see immense value from the collaboration as we see the region growing at a rapid pace, leading to greater opportunities in the industry. We are excited to work with OR, with its expertise in creating great businesses with a customer-focused approach, to capture the demand and provide enhanced solutions to our customers, while also creating new opportunities for our merchant-partners in Thailand and the region”, Mr Unardi says.
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