By Victor V. Saulon, Sub-Editor
PTT Philippines Corp. targets to open at least 30 new fuel retail stations this year, bringing its year-end total to around 192, as the company maps its expansion plans under its new president.
“End of last year we had 152, then now we have 162, then this year [we plan to open the] same [number] as last year — 30-something stations more,” said Thitiroj Rergsumran, PTT Philippines’ new president and chief executive officer, in a press briefing in Taguig City on Thursday.
Mr. Rergsumran said of the existing fuel stations, around 30% are company-owned, while the rest are dealer-owned. He said the cost of putting up a fuel station varies depending on factors such as the cost of the land or lease.
This year, the local unit of Thailand’s leading fuel brand is setting aside a capital expenditure of P500 million, which he said approximates the same budget as last year. The capex, which is a rolling figure revisited every six months, will be allocated largely to build fuel stations.
Aside from the stations, PTT Philippines plans to open 15 Cafe Amazon branches to add to its existing 11 coffee shops, mostly in Metro Manila and nearby provinces.
“It’s a growing business,” Mr. Rergsumran said about the café brand that the company brought in from Thailand in 2016.
Danilo Alabado, president and chief executive officer of PTT Philippines Trading Corp., said the company was able to meet its target fuel sales of 900 million liters last year.
In the local currency, the sales volume translates into P28 billion, up 27.3% from P22 billion in 2017. The PTT Philippines officials declined to disclose the company’s net income figures.
“We are more particular in sales volume,” Mr. Alabado said, adding that the figure presents a number that excludes fuel price fluctuations.
He said the company targets sales of 1 billion liters this year.
On Thursday, PTT Philippines announced the appointment of Mr. Rergsumran as its new president and CEO, replacing Sukanya Seriyothin who has led the local company since November 2014.
Mr. Rergsumran’s appointment took effect on May 1, 2019 as Ms. Seriyothin ended her tour of duty in the Philippines to return to PTT Oil and Retail (PTTOR) head office in Bangkok, Thailand. PTTOR is the parent company of PTT Philippines. He previously served as marketing director for PTT Philippines for four years.
“We will continue to strive further to sustain if not exceed all the efforts that my predecessors had started,” he said, adding that the focus will remain to achieve PTT’s mission and vision in the Philippines.
“Our expansion will continue on both our oil and non-oil businesses and we are confident that we can achieve our growth because of the strong support from our head office in Thailand, especially now that Khun Sukanya (Ms. Seriyothin) has already joined our international marketing,” he said in a statement issued during the briefing.
