TOP: Reinforcing Business Efficiency..!
TOP: Reinforcing Business Efficiency..!
TOP: Reinforcing Business Efficiency..!
30 ธ.ค. 2563

The sudden disposal of Thaioil Marine Company Limited (TM), a company that provides a marine transportation of petroleum and petrochemical products, by Thai Oil Public Company Limited (TOP) to Prima Marine Public Company Limited (PRM) has caused a stir. 
 
Aforementioned transaction caused the share price of PRM spiked 13.38% on Wednesday December 23, 2020 despite dropping the following day. 
 
However, TOP has explained that disposal of Thaioil Marine was part of the restructuring plan of the Company’s marine transport business unit despite the fact that TOP has sold all of its shares in Thaioil Marine.
 
Because after TOP disposed of all ordinary shares directly held in Thaioil Marine to PRM, TOP will acquire all ordinary shares in Thaioil Marine International Pte Ltd. (TOMI), a company that was established in Singapore in 2011 to provide a marine transportation of petroleum and petrochemical products. 
 
(The rumor has it that Thaioil Marine International is the real treasure)
 
Previously, TOP had to conduct its business of TOMI through Thaioil Marine, but from now TOP will be able to run TOMI directly, which would increase efficiency and flexibility in management.
 
At the same time, PRM will acquire Thaioil Marine and its subsidiaries including TOP Maritime Services Company Limited, TOP Nautical Star Company Limited, T.I.M. Ship Management Company Limited, TOP-NTL Shipping Trust, and TOP-NTL Pte Limited.
 
In 2019, Thaioil Marine reported a total revenue of 576 million baht with a loss of 44 million baht and the liabilities was 1,591 million baht, same as its subsidiaries that mostly booked a loss, raising a question that this transaction will literally benefit PRM..?  
 
But it is pretty sure that TOP will be benefited as the Company will have more efficiency and liquidity in operation.