11 December 2013
Signing of the Manufacturing Joint Venture - Heads of Agreement with PT Pertamina
(Translation) Ref. No. 01-1059/2013 December 11, 2013 Subject: Signing of the Manufacturing Joint Venture - Heads of Agreement with PT Pertamina To: President, The Stock Exchange of Thailand PTT Global Chemical Public Company Limited ("PTTGC") would like to inform that on December 10, 2013, the Company had signed the Manufacturing Joint Venture - Heads of Agreement ("MJV-HOA") with PT Pertamina (Persero) ("Pertamina"), the Indonesia National Oil Company, for the joint investment of a world scale Petrochemical Complex in Indonesia which is expected to start commercial operation in 2018. The joint investment will include a world scale cracker and downstream products complex, with no investment in the refinery complex. The preliminary investment cost is estimated to be around USD 5 billion. This collaboration advancement comes after the completion of the extensive project preliminary feasibility study - a part of the partnership HOA signed earlier since April 2013. This MJV - HOA is aimed to further materialize the agreed joint venture principles and investment scope, as well as enable both parties to finalize the project details by early 2014 prior to conducting the detail bankable feasibility study and Front End Engineering Design (FEED), which shall focus on a further detailed assessment of greater value enhancement through various synergies and integration at the selected location to assure the complex economics and competitiveness. Moreover, Pertamina and PTTGC have reached the project definition understanding, including a common goal and objective, a competitive investment model and appropriate site specification, as well as each party's strength to be leveraged for building Joint Venture's competitiveness. This will move forward for final investment decision, anticipated in 2015. This collaboration fits well with PTTGC's growth aspiration (1- step adjacencies) to strengthen our core business as well as strengthening our footprints in Southeast Asia. Moreover, this investment aims to capture mainly the domestic market share that we see as potentially growing rapidly in Indonesia in the years to come. Pertamina would be the major shareholders, holding 51%, and PTTGC would be holding 49% in the Joint Venture. However, based on the HoA signed, the Joint Venture structure allowed PTTGC to seek for a potential third party to join the investment if the third party could enhance higher benefit to the project while Pertamina would remain a major shareholder. In addition, Pertamina and PTTGC will also enter into a marketing and trading joint venture to initially conduct both Pertamina's and PTTGC's polymer products marketing and distribution throughout Indonesia in the near future. Please be informed accordingly. Sincerely yours, (Bowon Vongsinudom) President & Chief Executive Officer Corporate Finance and Investor Relations Tel. +66 (0) 2 265 8421, +66(0) 2 265 8574, +66 (0) 2 140 8712-14 ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.
13 February 2024
(Revised) Management Discussion and Analysis Yearly Ending 31 Dec 2023
12 February 2024
The 2024 Annual General Meeting of Shareholders Date and Agenda and 2023 Dividend Distribution