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FAQ

What is the Company's Business model?

The core businesses of the Company and its subsidiaries are retailing and wholesaling of fuel. The Company purchases most of the fuel directly from Thai Oil Public Company Limited ("Thai Oil" or "TOP") and transports them by its own tanker truck fleet from TOP refineries to customers. In general, the Company sells the fuel both directly and indirectly to automobile users and users of other types (e.g. farmers using fuel for agricultural machines, etc.) via PT petrol stations, and the Company also wholesales to the operators of the independent petrol stations who are not the oil dealers of large oil traders, other oil wholesalers, and the industrial enterprises requiring fuel to operate their businesses. Recently, the company increases the number of petrol stations in Bangkok and suburban in order to cover the service in all areas in Thailand.


In addition to petroleum products, what else does the Company operate?

  • The Company operates its convenience stores in PT petrol stations under "PT Max Mart". The Company customs PT Max Mart to be modern, and the Company also increases the standard of service to meet with customers' needs. Moreover, the Company also operates its coffee shop under "Punthai Coffee", which is managed by Punthai Coffee Company, a subsidiary company, both inside and outside PT petrol stations.
  • The Company opens LPG stations in 2015 to provide the quality service to LPG automobile users in standard service stations on par with petrol stations.
  • The Company operates high quality engine oil business under the brand PT Maxnitron which is a premium lubricating oil with Syn4Max technology that helps increase the effectiveness of the engine, maintaining and extending the use of engines, prolonging the engine oil changing period. PT Maxnitron engine oil is available both for benzene and diesel engines, as well as for motorcycles. This high quality engine oil can be purchased at PT service stations, auto parts shops and garages all over Thailand.
  • The Company has invested in alternative energy projects, i.e. a fully-integrated palm oil project (PPP Green Complex), which is a biodiesel production (B100) from palm oil that is used as an ingredient in diesel oil. This is the first project in Thailand that incorporates all the manufacturing procedures in one place. The project is located in Bang Saphan Noi district, Prachuab Khiri Khan. The other project is ethanol project, featuring the production of ethanol from cassava residue, which is then mixed with gasohol. This project not only helps reduce raw material costs, it also increases the value of remaining raw materials (cassava residue) and helps agriculturists in the areas. This is considered the first project in Thailand that enables ethanol production from cassava.

How many types of stations does the Company have?

PT petrol stations can be divided into two categories which are 1. Petrol stations owned and managed by the Company (Company-Owned-Company-Operated: COCO) 2. Petrol stations owned by dealers who are authorized to use PT trademark from the Company (Dealer Owned Dealer Operated: DODO). The Company and its subsidiaries as fuel traders under Section 10 sell fuel to DODO petrol stations operators.


How many PT petrol stations do the Company currently have? and how does the Company expand its PT petrol stations so quickly?

At the end of the year 2017, the Company has 1,407 PT petrol stations which are 1,194 COCO and 213 DODO. The Company's goal is to expand 350-400 branches each year.
With limited resource and time, the Company applies long-term rent strategy instead of building new stations from greenfield. As the Company focuses on COCO expansion, the strategy helps enabling the Company to quickly increase number of stations.


What is the advantage of having its own tanker trucks? and how many tanker trucks does the Company currently have?

Having its own tanker trucks can help the Company to minimize transportation costs and to efficiently maximize the supply chain management. The Company can manage the fuel transportation from refineries to 9-owned storage depots, so-called as Distribution Centers (DC), located throughout the country. Owing the whole supply chain is one of the key success factors of the Company. Currently, the Company has about 407 tanker trucks.


What is PT Max Card? What are the benefits that the members will receive?

PT Max Card is a membership card used to accumulate points from filling fuel and buying a drink at Punthai Coffee. The points can be exchanged for discounts on filling fuel and other rewards. The Company is committed to develop benefits to its members so that this card can meet with customers' needs even more. More details of the additional prizes on www.ptmaxcard.com


What is the dividend policy?

The Company has a policy to pay dividends to shareholders at a rate of not less than 30 percent of the net profit of the Company after taxes, legal reserves, and other reserves (if any). However, the dividend payment is subject to change depending on the results of operations, financial condition, liquidity, the need for capital in the investment, business expansion in the future, market conditions, and other factors relating to the operation and management of the Company. The dividend payout ratio was 98% in 2015 and 87% in 2016.


What is EURO standard?

The word "EURO" comes from the word "Europe". In this case, it means the European countries. These countries have regulations relating to protection and environmental issues for the fuel in the transport sector as a part of the emissions to the environment. These countries have begun to control emissions from vehicles systematically since 1992 by determining the standard control emission for vehicles together with a standard of fuel so that the vehicles produced for sale can be emit emissions not exceed the emission standard. As a result, these countries start to develop vehicle technology, so they can control the emission to be not exceed the emission standard. In terms of fuel, including gasoline and diesel, European countries have developed technology in order to reduce the elements that pollute less. A Euro 4 fuel is a gasoline or diesel that is qualified Level (or. No.) 4 under the European standard.

Source: Bureau of Quality Fuel, Department of Energy


What is a Marketing Margin?

A Marketing Margin is the difference between the retail prices of fuel at petrol stations after deduct a value added tax (an output tax) with the oil prices that the Company bought from the refinery after deduct a value added tax (an input tax). The relationship between retail prices and oil prices which the Company bought from the refinery, and the market margin are shown as bellows:

Note: VAT (1) is included in the price of fuel that the Company purchases from a refinery which is the tax that the Company can refund from the Revenue Department which is called "an input tax", and VAT (2) is included in the retail price of fuel which is the tax that the Company has to submit to the Revenue Department which is called "an output tax".


How to check a Marketing Margin?

You can check a daily Marketing Margin via the website of Energy Policy and Planning Office, Ministry of Energy on http://www.eppo.go.th/index.php/th/petroleum/price/structure-oil-price?orders[publishUp]=publishUp&issearch=1

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