Petroleum

PTG Energy Public Company Limited (PTG) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows: Due to the sharply increase in the world oil prices, the Thai Government’s appeal to the petroleum retailers to cooperate to cap the price of diesel to be at ฿30 per liter while the cost rapidly rose. As a result, the growth of PTG’s gross profit was lower than expected. In 3Q/2018, the gross profit per liter decreased according to the appeal from the Thai Government and the increase in SG&A expenses from the oil and non-oil businesses expansion. In addition, financial cost was ฿75 million, an increase of ฿27 million YoY and ฿4 million QoQ. The main factor of the increase was the growth in loans from financial institutions to invest in the oil business and other related businesses.