Latest news with #M.L
The Sun
08-07-2025
- Business
- The Sun
PTT Oil and Retail Business Posts Record Q1 2025 Profit, Extends Regional Growth with ESG-Led Expansion
BANGKOK, THAILAND - Media OutReach Newswire - 8 July 2025 - PTT Oil and Retail Business Public Company Limited (OR), the retail and lifestyle arm of Thailand's PTT Group, reported record earnings for the first quarter of 2025, signaling strong momentum from its cross-border expansion and ESG-driven strategy across energy and lifestyle verticals. The company posted THB 182.4 billion in revenue for the quarter, with net profit rising to THB 4.38 billion—a 46% increase from the previous quarter and 17.6% higher year-on-year. EBITDA climbed to THB 6.48 billion, up 32.7% quarter-on-quarter and 5.0% year-on-year, driven by gains in its Global and Lifestyle businesses alongside cost discipline and margin improvements in key segments. Higher gross profit per liter and operational efficiency, particularly in Laos, the Philippines, and Cambodia, helped lift EBITDA by THB 311 million compared to the same period last year. Consumer resilience and sharper cost control also buoyed margins in OR's Lifestyle segment. While Mobility margins were pressured by softer spreads—especially in aviation fuel—overall performance held firm on reduced personnel and outsourcing costs. Equity investment gains added THB 657 million, contributing to the bottom line and further affirming the group's diversified growth engine. 'This quarter's performance reflects the resilience of our business model and the clarity of our long-term direction,' said M.L. Peekthong Thongyai, Chief Executive Officer of OR. 'We are expanding with purpose—delivering value for people, prosperity for communities, and care for the planet.' At the center of that strategy is OR's People-Performance-Planet framework, which underpins its approach to investment, innovation, and regional growth. The expansion of EV Station PluZ, now present in all 77 provinces of Thailand, underscores the company's commitment to clean mobility. At the same time, OR's signature brand Café Amazon continues to scale across Southeast Asia, with 391 outlets outside Thailand and over 112 million cups sold in Q1 alone. OR's Global Business segment reported a 30.8% year-on-year increase in sales volume, with EBITDA rising 81.5%. The company now operates 415 PTT Stations and 391 Café Amazon outlets across Asia, including Cambodia, Laos, Philippines, Vietnam, Malaysia, Oman, Saudi Arabia, Bahrain, and Japan 'This isn't just about selling fuel or coffee,' Peekthong said. 'It's about building platforms that empower local economies, foster entrepreneurship, and deliver long-term, sustainable growth.' The strategy echoes OR's 'They Grow, We Grow' philosophy, which emphasizes empowering local partners as the foundation of international expansion. Outside the energy sphere, OR continues to sharpen its lifestyle and digital businesses. Non-oil operations contributed 27.5% of Q1 EBITDA, led by strong performance in retail, food & beverage, and franchising. The company is also investing in circular economy models, digital platforms, and sustainable products to reinforce long-term value creation. Looking ahead, OR is positioning for entry into the virtual banking sector, leveraging its wide-reaching commercial network and extensive customer database to offer personalized, accessible financial services. The move is seen as a natural extension of its strategy to become a daily-life platform for consumers. The company's financial health remains solid. TRIS Rating reaffirmed OR's corporate credit rating at AA+ with a stable outlook for the third consecutive year, reflecting both financial discipline and strategic continuity. Armed with that momentum, OR is pushing deeper into ASEAN and new frontier markets through a blend of organic expansion, joint ventures, and strategic alliances. The ambition to transform from a national champion into a future-ready regional enterprise at the nexus of energy, retail, and sustainability.
The Sun
22-05-2025
- Business
- The Sun
BAFS expands into Southeast Asia with delivery of Thai-engineered aircraft refueling vehicles for Cambodia's new international airport, set to launch mid-year
BANGKOK, THAILAND - Media OutReach Newswire - 22 May 2025 - M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), said BAFS INTECH Company Limited, a subsidiary of BAFS Group, specializes in the design, manufacture, and assembly of aircraft refueling vehicles and ground support vehicles for airport operations. Leveraging the expertise of its engineering and technical teams, BAFS INTECH integrates cutting-edge innovations with advanced safety technologies to produce high-performance, durable vehicles that meet the requirements of ground handling service providers throughout the region. The company is delivering seven units, including hydrant dispensers, ground support vehicles, and mobile refueling carts, to Phnom Penh Aviation Fuel Service Co., Ltd. (PPAFS) in May 2025. These units will service Techo International Airport in Phnom Penh, Cambodia, which will be officially opened this July, marking another significant milestone that underscores BAFS's leadership in comprehensive aircraft refueling services. BAFS INTECH's aircraft refueling vehicle manufacturing business started with BAFS's foundational knowledge and proficiency in aircraft refueling operations, enhanced by state-of-the-art technology. Its capacity to modify refueling vehicles to client specifications, offering various sizes and flow rates to fit different aircraft types and airport operational settings, is BAFS's competitive advantage. This approach ensures optimal quality, safety compliance, and operational suitability, with manufacturing quality that conforms to the standards for supplying aviation fuel established by the Joint Inspection Group (JIG), the global benchmark for aviation refueling systems. BAFS INTECH is committed to developing technologies related to aircraft refueling services to meet the expansion of the aviation industry, particularly in Southeast Asia, which is emerging as a regional transportation and logistics hub. Initially focusing on producing aircraft refueling vehicles for BAFS and domestic clients, the company has progressively expanded into neighboring markets. Over the past four years, BAFS INTECH has earned the trust of clients in Myanmar and Laos, who have selected the company to design and manufacture aircraft refueling vehicles and ground support vehicles. M.L. Nathasit said, 'With over 40 years of experience in providing international-standard aviation fuel supply services and a commitment to elevating ground handling services through Thai-designed and manufactured products, this delivery underscores BAFS INTECH's capabilities and readiness as a leader in the design and manufacture of airport ground support vehicles. We have 16 more vehicles in production awaiting delivery this year, and we anticipate orders for 17 units in 2025. BAFS INTECH plans to penetrate international markets more extensively, particularly in Southeast Asia, by emphasizing our capabilities to produce high-performance vehicles tailored to meet Asian operational requirements. We aim to expand into Vietnam, Malaysia, the Philippines, and Singapore within the next five years.'
Daily Mail
01-05-2025
- Business
- Daily Mail
My husband and I were both widowed: Can we use our late spouses' inheritance tax allowances?
My husband and I were both widowed when we married. Neither of us used our late spouse's tax allowance on their passing. Does this mean we will have double the allowance for inheritance tax when we pass on inheritance to our children? Is there a way that we can do this if not? We both have children with our late spouses, but not with each other. M.L, via email Harvey Dorset, or This is Money, replies: Inheritance tax bills can prove a costly business, with the levy charged at 40 per cent on anything above the relevant tax-free allowance that applies to each case. But a couple still together at the time when one of them dies can potentially pass on up to £1million tax-free, depending on their circumstances. As a result, it is important to mitigate the effects of inheritance tax as and where you are able to. It is here that extra residence-based allowances and transferable allowances from spouses can be useful. In your case, you have quite a specific set of circumstances that means it isn't as simple as one of making use of spousal transfer when the other dies, as you both have previously been widowed. In order to understand how you might be able to make use of the unused allowances from your previous marriages, This is Money spoke to two financial advisers. Luis Amato says additional allowances are only available if the NRB and RNRB were not used when your late spouses passed away Luis Amato, private client advisor at HFMC Wealth, replies: You and your husband may be able to benefit from unused allowances from your late spouses, but this depends on whether these allowances were utilised at the time of their deaths. Equally, you would need to take expert advice on ensuring your wills are structured appropriately to take advantage of this opportunity. Firstly, let me provide you with an overview of what the current allowances are: 1. Nil rate band (NRB) • This is the basic amount of wealth and assets that a person can pass on without paying inheritance tax. It is currently £325,000 per person. • If your late spouse did not fully use their NRB, the unused portion can be transferred to your respective estates. • This means you could potentially have up to £650,000 - your own allowance, plus your late spouse's. 2. Residence Nil Rate Band (RNRB) • This gives someone an extra inheritance tax allowance, currently £175,000 per person, provided that their main residence is passed to direct descendants (i.e. children or grandchildren). This, plus the standard £325,000 allowance, means they can pass on £500,000 tax-free. • Unused RNRB from your late spouses may also be transferred, meaning each of you could potentially have £350,000 in RNRB. • However, RNRB is reduced if an individual's estate exceeds £2million, tapering at a rate of £1 for every £2 over this threshold. Help with financial advice and planning Financial planning can help you grow your wealth, sort your pension, or make sure your finances are as tax efficient as possible. A key driver for many people is investing for or in retirement and inheritance tax planning. If you are looking for help sorting your finances and want to work out whether you need advice, planning, or coaching, the following links can help you understand more: >Do you need financial planning or financial advice - and is it worth it? > Financial advice: What to ask and how much it might cost > Are you retirement ready? Take our quiz and get financial planning help > Inheritance tax planning - what you need to know to protect your wealth Total potential allowances If neither of your late spouses used their allowances, your potential combined IHT-free threshold could be: • £650,000 (NRB) + £350,000 (RNRB) = £1million per person • £2million combined However, these additional allowances are only available if the NRB and RNRB were not used when your late spouses passed away. If their estates were fully used up by gifts to beneficiaries or other arrangements, there may be limited or no transferable allowances. Practical steps 1. Confirm unused allowances • Your late spouses' estates need to be reviewed to determine if any of their NRB or RNRB was used at the time. A solicitor or financial planner can help assess this. 2. Review and update your wills • To fully benefit from these allowances, it is essential that your wills are structured correctly. This includes ensuring assets are passed in a way that makes full use of available allowances, particularly the RNRB if applicable. • Good legal advice is crucial to ensure your wills are tax-efficient and align with your estate planning goals. 3. Monitor your estate value • If your estate is likely to exceed £2million, consider ways to reduce the taxable estate to avoid losing the RNRB through tapering. This might include lifetime gifting strategies or setting up trusts. 4. Ensure the allowances are claimed on second death • When the surviving spouse passes away, their executors must formally apply to HMRC to transfer any unused NRB and RNRB. Proper record-keeping and legal guidance will help ensure this process runs smoothly. Whilst it is a great opportunity to make use of additional allowances, you should also consider your lifetime requirements and how you could be impacted if one of you pre-deceases the other. Having a well thought out plan whilst considering several different scenarios is paramount. I would strongly recommend speaking to a financial planner alongside a quality solicitor to ensure your wishes are set up correctly and tax efficiently. Natalie Donnell, independent financial adviser at Flying Colours, replies: This is an interesting question that is potentially relevant to greater numbers of people as we see more and more blended families and second marriages. In short, you can only inherit a nil rate band (NRB) of £325,000, and residential nil rate band (RNRB) of up to £175,000 once. So, if you inherit both the NRB and RNRB from your previous spouse you cannot then leave your own nil rate band to your spouse in your second marriage. However, in a situation where you had elected not to receive the NRB or RNRB from your previous spouse on their death, you would be liable for IHT for any amount over £325,000 and £175,000 for the residential nil rate band at the point of their death. You could then pass both your NRB to each other in your second marriage. The key point to make here is that as a couple, you need to decide if you are going to use the first or second marriage for NRB purposes. In this situation I would advise using the first marriage. This is because each of you individually would then have the combined NRB and RNRB of your deceased first spouse as well as your own – totalling £1million, or £2million combined. That would mean that each of you could pass the combined NRB and RNRB of £1million down to your own children. So, if your estate is below the value of £1million there would be no Inheritance tax for your children to pay. And if your estate value is over £1million your children would only have to pay inheritance tax of the value over £1million. The inheritance tax payable is 40 per cent of the value over £1million. However, it's important to note that this relies on you both keeping your finances and assets separate, not passing them to each other on death, and instead passing them down directly to your own children. This would work on a practical level by being 'tenants in common' for any property owned. That way, on the first death 50 per cent would be passed to the children of the deceased and the remaining 50 per cent kept by the surviving spouse. Please note that any jointly held bank accounts and/or savings accounts are normally set up under the 'joint tenants' meaning they would automatically pass to the surviving spouse. However, you can specify with the bank to have the account set up under 'tenants in common' like you would with your main property, so that 50 per cent passes to the surviving spouse and 50 per cent to your children. Pensions and investments tend to be in individual names, making life more straightforward there. However, with your pensions you do need to name the beneficiary by using an 'expression of wish' which most pension providers can provide. Without this, the allocation of the funds and recipients would be at the discretion of the pension provider/trustees. Also, you need to make your wishes explicit in your wills so that there can be no room for misinterpretation. It's important to be aware that this is specific advice in what can be a highly complicated area, and that you should always consult a qualified adviser who will be able to advise you on how best to organise your affairs.
Time of India
25-04-2025
- Politics
- Time of India
Heightened vigil at Indo-Pak border after Pahalgam attack
1 2 3 Jaisalmer: In the wake of the recent terrorist attack in Pahalgam, a high-level security review meeting was held late Thursday evening in Jaisalmer to assess the prevailing situation and reinforce coordination along the Indo-Pakistan border. Senior officials, including BSF Rajasthan Frontier IG M.L. Garg, Jodhpur Range IG Vikas Kumar, BSF DIG Sector North Yogendra Singh Rathore, Jaisalmer district magistrate Pratap Singh, and SP Sudhir Chaudhary, attended the meeting along with officers from the Indian Army, Air Force, and intelligence agencies. The session focused on enhanced vigilance, intelligence sharing, and joint patrolling in sensitive areas. Agencies discussed measures to bolster synergy among the BSF, Army, state police, and intelligence units. Upgrades to Standard Operating Procedures (SOPs) for border management and internal security were also reviewed. Following the meeting, top officials visited forward posts along the Tanot-Longewala stretch of the international border, assessed ground-level preparedness, interacted with field personnel, and reviewed ongoing surveillance and response measures. The border remains on high alert amid rising India-Pakistan tensions . Patrolling has been intensified, and the Indian Army and Air Force remain on standby in forward areas to counter any threats to national security.
Zawya
24-02-2025
- Business
- Zawya
BAFS Reports Strong 2024 Performance with First Profit in Five Years at THB 102.9M, Approves THB 0.30 Yearly Dividend, Eyes Asian Market Expansion in 2025
BANGKOK, THAILAND - Media OutReach Newswire - 24 February 2025 - BAFS has announced its 2024 financial results, reporting total revenue of THB 3.507 billion and a net profit of THB 102.9 million, marking a 175% increase from the previous year and the company's first profitable year since the COVID-19 pandemic. This turnaround to profitability was driven by a high volume of aviation fuel refueling and pipeline oil transportation. BAFS plans to distribute a yearly dividend of THB 0.30 per share for 2024. Looking ahead to 2025, the company has allocated an investment budget exceeding THB 1 billion to strengthen its business and expand into Asian markets, targeting an 8% revenue growth. M.L. Nathasit Diskul, President of Bangkok Aviation Fuel Services Public Company Limited (BAFS), stated that BAFS and its subsidiaries (BAFS Group) demonstrated robust and consistent business growth in 2024, leading to the company's first profitable year since the COVID-19 outbreak in 2019, with a net profit of THB 102.9 million—a 175% increase from the previous year. This growth was primarily attributed to a surge in aviation fuel refueling volume, which reached 5.047 billion liters, exceeding expectations, along with a significant increase in northern pipeline oil transportation to 1.226 billion liters. These factors drove total revenue to THB 3.507 billion, reflecting a 14% year-over-year increase, in line with the recovery of the tourism sector. EBITDA also grew by 21% year over year, reaching THB 1.594 billion. In Q4 2024, BAFS Group recorded total revenue of THB 955.4 million, a 19% year-over-year increase, with EBITDA of THB 343.9 million, supported by higher gross profits resulting from increased aviation fuel sales. Operating expenses rose by 1% while net finance costs decreased by 9% due to scheduled debt repayments to financial institutions and lower interest rates on commercial bank loans. The company recognized a Q4 loss due to a fair value adjustment of its investment in a Japanese power plant and an impairment of goodwill from a domestic power plant. Additionally, it wrote off deferred tax assets (DTA) that were deemed unlikely to be utilized in the future. These accounting adjustments had no cash flow impact and resulted in a Q4 net loss attributable to shareholders of THB 49.8 million. Following its strong performance in 2024, the Board of Directors approved a dividend payout of THB 0.30 per share for 2024. This includes an interim dividend of THB 0.10 per share, paid on September 3, 2024, and a final dividend of THB 0.20 per share, scheduled for payment on May 22, 2025. The final dividend is subject to approval at the company's 2025 Annual General Meeting. BAFS Group will continue its commitment to sustainable growth in 2025, targeting an 8% revenue increase. With over THB 1 billion allocated for strategic investments, the company will collaborate with partners to explore new business opportunities while enhancing Thailand's energy transportation infrastructure. A key project is the extension of the northern oil pipeline connecting Ang Thong and Saraburi led by BAFS Pipeline Transportation Co., Ltd. Construction is set to begin in Q1 2025, with commercial operations expected to commence in 2026. Once completed, the total length of the pipeline system will exceed 726 kilometers, making it the longest and most advanced oil transportation pipeline in Thailand and the longest in Southeast Asia. Amid the ongoing energy transition and its challenges, BAFS Group remains committed to sustainable value creation and energy security. The company's five-year strategic plan (2025-2029) focuses on three key pillars. The first pillar, Solid Financials for Uplifting Asia, involves expanding investments across Asia, leveraging BAFS Group's capabilities to seek investment and growth opportunities in the Asian market. Two key contributors are BAFS INTECH Co., Ltd., which is driving the expansion of the aviation refueling truck market in Southeast Asia, and BAFS Clean Energy Corporation Co., Ltd., which is currently advancing investments in Mongolia. The second pillar, Sustainability and Governance for a Thriving Future, focuses on supporting the transition of society and the aviation industry to a sustainable energy era, primarily by preparing for the adoption of sustainable aviation fuel (SAF). Last year, BAFS began SAF refueling services at Samui and Suvarnabhumi International Airports and recently obtained ISCC-CORSIA certification in the logistic center scope for its aviation fuel storage and refueling stations at Don Mueang and Suvarnabhumi Airports. The third pillar, Re-imagining the Future of Work for Human Empowerment, emphasizes building a future-ready workforce by enhancing employees' skills in generative AI and digital literacy to ensure adaptability to changes. BAFS is also assessing and preparing its IT infrastructure to provide employees with secure and convenient access to generative AI tools to boost efficiency. Hashtag: #BAFS #BAFSGroup The issuer is solely responsible for the content of this announcement. Bangkok Aviation Fuel Services Public Company Limited (BAFS)
