PTT to merge subsidiaries in Rayong

BANGKOK, 15 January 2010 (NNT) – PTT Plc. is to merge the subsidiaries located in Rayong Province. The issue is expected to be approved by shareholders in April.

President and CEO of PTT Plc, Prasert Bunsampan, cited the progress of the companies merger plan as the reason that the company was considering this direction. Primarily, the subsidiaries located in Rayong would be recognized for firms combining, which include PTT Aromatics and Refining, PTT Chemical and IRPC. The

In April there would be the meeting of PTT shareholders for the project approval After that the issue would be submitted to the Securities and Exchange Commission (SEC) for their acknowledgement.

On the current fuel price situation, Mr Prasert pointed out that the marketing margin of oil was at 1 THB per liter, after the global oil price had declined. PTT however, would not decide on a retail price decrease until the marketing margin could get to 1.50 THB per liter.