Bangchak to become Thailand’s second largest oil retailer after Esso buyout

22 Sept 10:56 Key points summarised by AI

Bangchak Corporation Public Company (BCP) will become Thailand's second-largest oil retailer, holding a 29.1% market share, following its acquisition of Esso (Thailand) Public Company.
The deal significantly expands BCP's operations, boosting its oil refining capacity to 290,000 barrels per day and increasing its service station network from approximately 700 to 2,100 across the country.
BCP has committed to retaining all 2,000 staff members of Esso Thailand, ensuring their continued employment under the new management.
The 55.5 billion baht acquisition, concluded with ExxonMobil, is currently awaiting final approval from the Thai Ministry of Energy and the Securities and Exchange Commission.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.