PATIPAT JANTHONGPTT Plc has acquired an additional stake in IRPC, the Government Savings Bank's (GSB) petrochemical business arm, for 13.8 billion baht after seven years of negotiations. Small investors own 4% of PTT shares, down from 7% during its first year of trading. PTT estimates global oil prices this year will hit a range of US$60-65 per barrel, above the previous estimate of $55. On Tuesday, PTT announced a record consolidated net profit of 135 billion baht for last year, up 42.9% from the 94.6 billion baht generated in 2016. PTT shares closed Wednesday on the SET at 522 baht, up 32 baht, in trade worth 17.3 billion baht.

Source: Bangkok Post February 21, 2018 22:41 UTC