The Thai baht’s rally to the highest level in 16 years is hindering exports from the world’s biggest rice shipper, curbing the government’s efforts to diminish record state stockpiles and threatening to increase its losses.
PTT Exploration & Production Pcl, Thailand’s biggest publicly traded oil and gas explorer, reported profit that exceeded most analyst estimates in the first quarter as prices and sales volume increased.
Dhanin Chearavanont, whose Thailand 7-Eleven stores unit bid $6.6 billion this week for cash-and- carry retailer Siam Makro Pcl, is adding to his billionaire status by outperforming global counterparts.
When billionaire Dhanin Chearavanont needed cash in 2005, he sold a stake in Thailand’s biggest wholesale chain for 60 baht a share. Eight years later, he’s offering 13 times that to reassemble his empire.
Pascal Grosjean, a Swiss motorcyclist, died after colliding with another rider moments after winning a race at the Dubai Autodrome, the Associated Press reported, citing a statement by track officials.
PTT Exploration & Production Pcl may sell perpetual dollar bonds in the second half to help fund more than $20 billion of investments in oil and gas projects from Myanmar to East Africa over five years.