<article><a href="http://www.thoresen.com/" target="_blank">Thoresen Thai Agencies Public Company Limited (TTA)</a>, a Thailand-based listed investment holding company, is keen to acquire stake in oil-refinery <a href="http://www.bangchak.co.th/en/" target="_blank">Bangchak Petroleum</a>.</article>

<a href="http://www.thoresen.com/" target="_blank">Thoresen Thai Agencies Public Company Limited (TTA)</a>, a Thailand-based listed investment holding company, is keen to acquire stake in oil-refinery <a href="http://www.bangchak.co.th/en/" target="_blank">Bangchak Petroleum</a>.
According to TTA, the investment will help strengthen its current businesses. TTA’s president and CEO Chalermchai Mahagitsiri said the company would take decision about this during the first quarter of next year.
“We are considering investing in oil refinery to help strengthen our businesses, especially our <a href="http://www.mermaid-maritime.com/" target="_blank">Mermaid Maritime Company</a>, an undersea engineering service provider. We will also look for more opportunity to acquire consumer product companies to diversify our risk when the economy turns down,” he said.
Last week TTA’s board of directors had approved a seven billion to eight billion baht  increase in capital by issuing a Right Offering (RO) to existing shareholders. Apart from Bangchak, this fund raising is expected to be used to acquire other firms as well.
After it raises capital, the company will be able to invest up to 20 billion baht for various purposes, including acquisitions. In 2015, TTA may consider buying more vessels or finding a partner who would add to the current 24 vessels and take it to the target of 30 vessels.
Earlier, there was a speculation that Chalermchai will buy Bangchak shares through <a href="http://www.susco.co.th/" target="_blank">Susco Plc</a>, another oil company in talks to acquire Bangchak shares from the Thai government&#8217;s listed oil and gas major  <a href="http://www.pttplc.com/" target="_blank">PTT Public Limited Company (PTT)</a>. He denied it and said that the shares in Susco is his personal investment.
He said that the company plans to be listed in SET 50 in the next two years, which will boost investors’ confidence and attract institutional investors to TTA.
Currently, 40-45 per cent of the company&#8217;s revenue comes from energy-related business, 30 per cent from transport, and the rest from businesses investments.
Chalermchai informed that the company is seeking a joint-venture partner for <a href="http://www.umspcl.com/" target="_blank">Unique Mining Services Plc</a>, its subsidiary in coal mining business.

Thailand's TTA considers stake in Bangchak

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Thailand's TTA considers stake in Bangchak

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