PTT credits stable oil for meeting targets (Business Mirror (Philippines))

STABLE oil prices is helping the subsidiary of Thailand’s state-owned PTT Public Co. Ltd. meet its target 150 service stations by 2020, an official of PTT’s local unit said.

PTT Philippines currently has 84 stations all over the country. One station costs around P8 million, at the very least, depending on size and location.

This year we are doing good, so far. If the price of oil persists throughout the rest of the year then it’s easier to do business here, because planning will be easier, PTT Philippines Marketing Director Thitiroj Regsumran said. PTT Philippines is bent on expanding its retail business by constructing more service stations. For the year, it wants to put up an additional 15, worth P450 million. Two stations of the 15 already opened this year-one in Cebu and another in Pampanga. The rest, said Regsumran, will be built in the second half of the year.

Our target is to put up 150 stations by 2020, but this plan is being reviewed by the head office every year. We want to be the top brand, and to do that, we have to build more stations and follow the head office design standard closely, the PTT official added. Regsumran said the oil firm intends to become the regional brand in every AEC (Asean Economic Community) country. The Philippines is a mature market. Actually, it’s a very tough market unlike Lao PDR, Cambodia and Vietnam.

Part of the plan is to put up mini-service stations to cater to the smaller market, particularly in far-flung areas where the roads are smaller compared to those in the metropolis.

The first PTT ministation will be located in Luzon and another in Cebu. Commercial rollout is scheduled next year.

We have seen the same trend of smaller stations in other countries. There must be a certain unique standard. We don’t want to jump in and follow them and lose our standard. It took us a few years to conceptualize this and we’re going to experiment it first, he said. Aside from the standard station, PTT Philippines has already put up platinum and premier service stations.

A platinum station is bigger in size compared to a regular service station and offers complete facilities, including mini-park, for motorists to make it a destination place of its target market. A premier station, on the other, is smaller in size compared to the platinum. The design and complete looks are also patterned after PTT Thailand.