A few years ago, PTT expanded into the coffee shop business (Café Amazon). More recently the energy giant stated it would add a fried chicken franchise, Texas Chicken, to its portfolio.
Such actions show the company has veered drastically off course from its core business. This is clearly a result of the Thai government’s lack of direction as regards this company.
Now, former finance minister Korn Chatikavanij has accused PTT of committing an unconstitutional act in its acquisition of Glow Energy Plc – another SET-listed energy firm.
In this case, PTT seems to have clinched a deal that will give it a monopoly in the oil and gas sector.
The government should come up with a clear policy as regards PTT – before the company goes bankrupt as a result of massive corruption and gross mismanagement.