PTT Oil and Retail Business PCL (SET: OR) announced the plans to increase its EBITDA from 7% to 15% in four years, by focusing on global business and strengthening collaboration with its allies, especially in Cambodia that have high growth potential.
OR already expanded its business into Cambodia as the CEO, Mr. Disathat Panyarachun noted that it is “like a second home,” as there’s 169 PTT stations and 7 product inventories spread across the country The company also entered into a joint venture for aircraft fueling at Phnom Penh International Airport. The CEO pointed out that Cambodia has high potential for business growth.
As for Q3 of 2023, OR still has a total of 231 Cafe Amazon branches and 65 convenient stores under construction. Furthermore, OR still plans to invest and expand its oil and LPG gas inventories, asphalt factories and EV services like battery swapping and charging stations as well.
On the other hand, the PTT brand has already penetrated the Philippines since 1997. As of August 2023, OR already has 168 branches of PTT Stations, 4 oil inventories and 17 Cafe Amazons. OR’s Philippines business also included lubricants and aircraft fueling as well.
Meanwhile, OR also expanded into Laos as well, with 54 PTT stations, 9 branches of FIT Auto & Procheck, 87 Cafe Amazons, 28 Jiffy convenience stores and 4 Pearly tea shops in total as of August 2023. OR also conducted feasibility studies on coffee business in Laos, especially the Arabica coffee.
As for Vietnam, OR already penetrated 22 branches of Cafe Amazons via a joint venture that was established to seek allies with local business, along with coffee business feasibility studies that focus on the Robusta coffee and possibilities of LNG and LPG gas business as well.
In 2024, OR planned for more expansion of the Cafe Amazons into other countries, including four more branches in Oman and 8 in Malaysia. Meanwhile, branches in Japan will be increased to three in total.
