This Executive Talk was honored by

Ms. Phatpuree Chinkulkitnivat

Senior Executive Vice President, Accounting and Finance

This Executive Talk was honored by Ms. Phatpuree Chinkulkitnivat, Senior Executive Vice President, Accounting and Finance (CFO). Ms. Phatpuree or Khun Toey was formerly CFO at BCPG Public Company Limited, a flagship in the power generation business of Bangchak Group, and has been appointed as CFO of Bangchak Group since 1 October 2022. Let’s congratulate and give a warm welcome to Khun Toey.

You have a long experience in management and has worked with Bangchak Group for quite long, could you please share us about the challenge in Bangchak group accounting and finance management?
In terms of financial accounting management, no matter which company you are in, most issues should be similar. Normally, the accounting and finance department would relate to a lot of information about the company. How the information would be most favorably utilized for the company’s direction and precise decision-making is the key challenge. For comparison, when living in a small house as a subsidiary, everyone would together help to build a house and push it forward as quickly as possible, and when there is enough time, we would come back and strengthen the house's foundation. Now working with a well-established big house such as Bangchak, the bigger house where all structures and systems are all set. The challenge would be how to utilize such systems and adopt the automation to the fullest, and extend support to our subsidiaries. Staff’s skill improvement is as well important.
Bangchak Group has announced a long-term investment plan which required a budget of up to 200,000 million Baht during 2023-2030. Would you please elaborate more on this? Which direction would it be and how would the financial management support this growth?

This is quite challenging for Bangchak Group. With this investment plan, Bangchak Group's business will be more diverse. We will no longer be recognized as just service station and refinery, but electricity, biological product, natural resource producer, and also other businesses will be added up in the next 5-7 years. To support exponential growth, accounting and finance must be well planned. Not only the funding must be ready, but the financial structure must be sustained as well. The key is to strengthen the balance sheet under the business volatility which would be required very well planning for unanticipated situations.

In 2022, Bangchak Group's credit rating was upgraded to A (Stable) from A-(Stable), which is very encouraging. Could you please share how this credit upgrade reflects the strengths?

I suppose there are 2 parts. First, for the last few years, Bangchak group has been evolving a lot so that our income or EBITDA was sufficiently diversified and resilience. This can be seen during COVID-19 that we could maintain our stable income when the refinery business was in the downturn. Second, Bangchak has good financial discipline, so we were well prepared in terms of liquidity in case of any necessities. Therefore, TRIS Rating could see the strengths of the company through these 2 points.

In the past, Bangchak has rarely issued bonds to retail investors, but in 2022, Bangchak launched one for the public to jointly invest via “Paotang” the government sector’s wallet application at the amount of 3,000 million baht, which was sold out within only 3 minutes. Will there be any other opportunities for the retail bond investors again?

That was what we are very proud of. We checked with Paotang and it showed we broke the record for the fastest bond seller in their digital bond platform. I have to say that it is our pride and would like to thank the investors for trusting Bangchak. This evidence supports our confidence and affirms our readiness to grow further. We will definitely issue more series to retail investors again, please follow our news.

Lastly, Khun Toey, is there anything you would like to say?

Bangchak Group has undergone quite a lot of changes in the past. We are now strong and will continue growing vibrantly in the next 5 years. Therefore, we need supports from the public sector including shareholders, bondholders or even analysts and financial institutions. In any case, please continue supporting us, and if there is any suggestion, you are very welcomed. Thank you very much.

Ms. Phatpuree Chinkulkitnivat

Senior Executive Vice President, Accounting and Finance