Mr. Chansilp Treenuchagron, Chief Executive Officer and President of PTT Public Company Limited, revealed that PTT has informed the Stock Exchange of Thailand (SET) on May 7, 2019 that it has sold all of PTT’s palm oil business in Indonesia, which is in line with the policy of the PTT board of directors in the past, because it is considered a business that does not generate profits as it should. However, it confirms that the process of selling the business has been completed, which took more than 4-5 years.

It is believed that this sale of the business is more positive than negative for PTT, and the investment in the palm oil business in Indonesia is not in vain because it has gained experience. If it had not invested, it would not have known that palm oil is a business that involves many people, including society, the environment, and information of the countries in which PTT invests, etc.

As for the coal business that PTT invested in Indonesia, a working group has now been set up to consider how to adjust the business since it was found that the selling price was not very good and most coal is a product whose price is stable or decreasing. Normally, if the business is still profitable, PTT will use the method of adjustment to continue. In this case, if the coal business is not showing good prospects, the team has several approaches to consider, such as reducing the size of the business, finding a partner, or entering the stock market, etc. The clear results will be known at the end of 2019.