PTT Global Chemical's results for the third quarter were in line with expectations and thus support its "Baa2" rating and "stable" outlook,Moody's Investors Service says. Despite three one-off items negatively affecting its earnings, the company posted only a marginal decline in its core earnings before interest, taxes depreciation and amortisation. PTTGC's EBLTDA in the third quater-excluding inventory gains-declined marginally to Bt12.6 billion from Bt12.9 billion in the second quarter. PTTGC's core earnings were affected by one-off items, including an unplanned 78-day shutdown of its low-density polyethylene (LDPE) plant in July; lower gas feedstock from unit 5 of PTT's gas separation plant, which was struck by lightning in August; and expenses related to an oil spill in July, said Vikas Halan, a Moody's vice president and senior analyst.
About 50 Japanese companies, most of them small and medium-sized enterprises, from five major cities will visit Thailand this month to explore business opportunities. This reflects the continued confidence of Japanese investors in the Kingdom, said Udom Wongwiwatchai, secretary-general of the Board of Investment (Bol). They will also attend the "Metalex 2013" fair at Bitec Bang Na during November 20 to 23. Udom said a greater number of Japanese SMEs were now interested in overseas investment, especially in Thailand. From January to October, the number of Janpanese SME applications for investment support from the Bol reached 351 projects, together worth more than Bt19 billion.
Fifty japanese firms on investment visit next week