Bangchak Sriracha Public Company Limited (BSRC) is celebrating a significant milestone, with its company rating and senior unsecured debentures rating being elevated to an impressive “A+” from “A”. This exciting news, effective from September 30, 2024, was announced by TRIS Rating and aligns perfectly with the credit rating enhancement of Bangchak Corporation Public Company Limited. This upgrade underscores BSRC’s pivotal role in bolstering strategies and amplifying synergies within the Bangchak Group. Integration with the Bangchak Group has substantially fortified BSRC’s core fundamentals, leading to remarkable improvements in operational efficiency and cost reduction. This merger has been a game-changer, reflected in the record-high quarterly refining utilization of an astounding 154,200 barrels per day achieved in the second quarter of 2024. Such figures speak volumes about the company’s operational prowess and robust strategy. Bundit Hansapaiboon, the dynamic Chief Executive Officer of Bangchak Sriracha Public Company Limited, shared his thoughts on this significant…
Posts published in “Thailand”
Consumer protection police recently apprehended Kanpon Rueang-aram, second from the left, and his wife Kornkanok Suwannabut, fourth from the left, at their home in Bang Khan district, Bangkok. The arrest follows allegations that the couple, known colloquially as Mae Tuck and Pa Bia, engaged in fraudulent activities related to the sale of impure gold amulets. Pol Maj Gen Withaya Sriprasertparp, commander of the consumer protection police, reported that the couple was detained at House No. 72 on Ram Intra 65 Road in Bang Khen district on Monday. The Criminal Court issued arrest warrants on the same day, targeting Kornkanok Suwannabut, also known as Mae Tuck, and her husband, Kanpon Rueang-aram, known as Pa Bia. The charges include public fraud, the input of false information into computer systems which could harm individuals, false advertising, and misleading statements about the quantity, quality, and key qualifications of their products and services. Additionally, they…
The acquisition of 31,357,850 shares, representing a notable 24.96% of the total issued shares of MFC Asset Management Public Company Limited (MFC), by the Chartered Group (via Opus-Chartered Issuances S.A.) was officially broadcasted to the Stock Exchange of Thailand on September 24, 2024. This significant transaction, having received the green light from the Office of the Securities and Exchange Commission on September 17, 2024, now positions the Chartered Group as a major stakeholder. Meanwhile, the Ministry of Finance and the Government Savings Bank retain their shareholdings at 15.92% and 24.94%, respectively. Dr. Narongchai Akrasanee, Chairman of the Board of Directors of MFC, exclaimed, “This transition signifies a monumental opportunity for the company to thrive and grow sustainably with the robust support from Chartered Group. Their involvement will undoubtedly fortify and enhance our capabilities in delivering ongoing service excellence to all our customers and investors.” Chartered Group, the new heavyweight shareholder,…
On Monday morning, as the sun cast its first rays over the picturesque city of Chiang Mai, the diligent workers were already busy at the Naowarat Bridge. Their task? To direct the removal of flood debris from the Ping River, an effort that plays a pivotal role in enhancing the river’s flow. This vital mission was highlighted on the official Facebook account of the Chiang Mai Municipality Office, giving residents a reassuring glimpse of the ongoing efforts. By early Monday, relief seemed to be on the horizon. The floodwaters were gradually receding in Chiang Mai city, as the surge of water coursed downstream through the Ping River, heading towards the southern parts of the province and into the neighboring Lamphun. Around 10 AM, the Chiang Mai Municipality website reported that the water level at the Naowarat Bridge monitoring station stood at 3.45 meters. It had maintained this level for six…
The year 2024 has truly been a golden year for Phuket, marking a historic achievement as the destination proudly secured two prestigious accolades at the 2024 IFEA/Haas & Wilkerson Pinnacle Awards, organised by the International Festivals & Events Association (IFEA) in Pittsburgh, Pennsylvania, United States. The results were revealed on the morning of 30 September 2024 (Thailand time). The award that fills the people of Phuket and the entire nation with pride is the “World Festival and Event City Award,” showcasing Phuket Province’s readiness to host world-class events and festivals. In addition, the “Phuket Vegetarian Festival” received the prestigious “Grand Pinnacle,” the highest award given by the IFEA, the premier association supporting and enabling festival and event professionals worldwide. This award is considered the Oscars of the event industry. Phuket: The 2024 IFEA World Festival & Event City Being recognised as the ‘World Festival and Event City’ does not simply…
In today’s fast-paced world, the pursuit of health and longevity has become a top priority for many people. The growing interest in longevity medicine reflects this global trend, aiming to fulfill the increasing demand for a healthier, longer life. Recent statistics reveal that people across the globe are not only living longer but also striving to maintain good health well into their senior years. At the forefront of this movement is Dr. Artirat Charukitpipat, Chief Executive Officer of Bumrungrad International Hospital, and Executive Director of the VitalLife Scientific Wellness Center. According to the New Global Wellness Institute, the health and wellness industry is currently valued at a staggering 5.6 trillion US dollars and is projected to soar to 8.5 trillion US dollars by 2027—a remarkable 40% increase from 2023’s figures. This surge underscores the escalating demand for health solutions, particularly in an aging society where both younger and older generations…
In a whirlwind of political drama, the Office of the Election Commission (EC) in Thailand has been under the spotlight with over ten complaints seeking the disbandment of certain political parties and the removal of none other than Prime Minister Paetongtarn Shinawatra and some cabinet members. These complaints have surfaced since the formation of the new government, but as of late, two of these grievances have been dismissed due to insufficient information, according to Sawaeng Boonmee, the EC’s secretary-general. Sawaeng Boonmee shared that despite receiving more than ten complaints, the specifics of the complaints were too vague to meet the criteria for valid submissions. Essentially, for a complaint to be considered, it must precisely cite the offenses and the relevant sections of the law that were allegedly infringed. Simply asking questions based on newspaper clippings and hearsay doesn’t cut it. The EC’s rigorous standards mean they won’t entertain anything less…
A statue of a deity gracefully sits on a lavishly decorated palanquin, making its way through the bustling streets of Phuket during the electrifying Vegetarian Festival. The atmosphere is a whirlwind of colors, sounds, and scents, a melting pot of spirituality and celebration that captivates both locals and visitors alike. This kaleidoscopic spectacle is just one of the reasons why Phuket was recently named a 2024 World Festival and Events City by the prestigious International Festivals & Events Association (IFEA). In a ceremony held in Pittsburgh, USA, on Sunday, the IFEA acknowledged Phuket’s exemplary contribution to the global festival scene. Pattanachai Singhavara, the southern director of the Thailand Convention and Exhibition Bureau, was beaming with pride as he explained that Phuket’s accolade wasn’t just a nod to its dynamic festival calendar, but also its significant economic development ushered in by these cultural extravaganzas. The IFEA elaborated on its website, spotlighting…
Bangchak Corporation Public Company Limited (BCP) has proudly secured a remarkable upgrade in its credit rating from TRIS Rating. The company’s corporate credit has been elevated to an impressive “A+” from a previous “A,” marking the highest rating Bangchak has ever achieved. This stellar rating comes with a “Stable” outlook, taking effect from Monday, 30 September 2024. This credit uplift is a testament to the fortification of Bangchak’s business framework, significantly bolstered by the flourishing sectors of refining and oil trading, along with its robust marketing operations. Integral to this achievement has been the successful incorporation of Bangchak Sriracha Public Company Limited (BSRC) into the Bangchak Group. This strategic move, coupled with the continual expansion of its exploration and production (E&P) business, has been a driving force for sustainable growth. Furthermore, the diversification of Bangchak’s business portfolio serves as a crucial buffer against the inherent volatility in oil prices and…
Energy Absolute PCL (EA), a frontrunner in Thailand’s renewable energy landscape, revealed today (30 September 2024) that it has secured a notable THB 1.2 billion in short-term funding. This substantial amount is divided into two significant tranches: THB 300 million sourced from an independent juristic entity and a hefty THB 900 million extended by the company’s major shareholder, Mr. Somphote Ahunai. Mr. Vasu Klomkliang, the Chief Financial Officer (CFO) of EA, expressed his optimism regarding the new influx of capital. He explained that these funds are designated for use as working capital, facilitating ongoing discussions with potential strategic partners. “We have made significant strides in stabilising our business operations, and the confidence displayed by these loans is genuinely encouraging. We are particularly gratified that our largest shareholder has shown such robust support by advancing a substantial loan without necessitating any collateral from EA,” he remarked. With its reputation as a…