29 March 2023

Bangchak Establishes Treasury Center to Adopt World Class Financial Management Practices and Boost Competitiveness

Bangchak Corporation Public Company Limited established Bangchak Treasury Center Company Limited (BCTC) on 1 March 2023, and have applied for the Treasury Center license with the Ministry of Finance through the Bank of Thailand (BOT) on 29 March 2023, to provide financial management services enhancing liquidity management for Bangchak Group businesses and supporting continuous business expansion.

Phatpuree Chinkulkitnivat, Senior Executive Vice President, Accounting and Finance, Bangchak Corporation Public Company Limited stated that as the Leader in Energy Transition, Bangchak has continually expanded its business over the years, including existing businesses and expanding investments in future energy. To address this expansion, the company continually enhances its financial management efficiency, including the integration of technologies in operational enhancement, such as adopting blockchain technology in electronic L/C transactions for greater efficiency of Trade Finance Transactions, provided by Bangkok Bank, as well as the recent establishment of BCTC to enhance financial management. This development will boost the efficiency of the Group’s liquidity and foreign currency management, as well as added tax benefits, thus reducing costs, increasing flexibility in foreign currency management, and boosting its competitiveness according to the policy, strategy, business development to add greater value and foster continuous growth for Bangchak.