Revealing BANPU's strategy, new CEO Sinont Vongkusolkit continues to use clean energy, pushing its EBITDA ratio to more than 50%.

It is worth watching for the business trend Banpu Public Limited Company or BANPU shares After the Board of Directors meeting, it decided to appoint “Sinont Vongkusolkit” as CEO in place of Ms. Somruedee Chaimongkol, effective April 2, 2024, by recruiting and appointing senior executives of Banpu in a manner that follows good corporate governance practices. .

The BANPU recently announced its readiness for a leadership transition. It is an energy company that supports the new generation to take the initiative in driving the business smoothly. Willing to push for restructuring of organizational management to be concise and modern. It is consistent with the company's vision and strategy

Sinon Wongkosolkit As revealed by BANPU's new CEO, Banpu will enter its fifth decade by creating continuous growth. And expanding towards sustainable energy with great confidence in the business plan and the team. The team that is the new generation will make the house newer. And a more powerful one that will definitely be able to lead Banpo to the goals that have been set for him

As for business direction in 2024, the company will continue to strengthen its three main business groups. Maximizing the benefits of the business combination to make Banpu an energy leader that can provide sustainable energy and respond to the world's future energy needs.

“The fact that Banpu has both upstream and downstream businesses is a strong position, allowing us to look more closely at the overall picture of the energy industry. And plan more precisely to meet the needs of global energy growth in the short and long term. From the increasing demand for energy,” Sinon said. .

The company has set a target percentage of profit from the company's operations before interest, taxes and depreciation. The energy consumption (EBITDA) of the clean energy business represents more than half or 50% of the focus on expanding the business in 4 countries with potential: Indonesia, China, Australia and the United States.

Meanwhile, there are plans to focus on improving the existing business to be more efficient. From the use of energy technology and increased use of artificial intelligence (AI) in operations in every business group. In order to be able to create an increased profit rate (margin)

The company has set a 2024 investment budget of US$700 million (about 25 billion baht), of which approximately 50% will be invested in its natural gas business, with the remainder used to continually expand its renewable energy business. Along with expanding the battery business however, each investment plan will focus on enhancing efficiency and creating strong cash flow for the company in the future.

For the plan to bring BKV Corporation (BKV), a major natural gas company and gas power plant in the United States. It is listed on the New York Stock Exchange and the company monitors the development of gas prices. Which, if it improves, there is a chance to bring the company public. It is believed that there will be good signs in the second half of 2024.

In addition, the company is studying the use of ammonia and hydrogen energy as clean energy in power plants. It is expected that there will be clarity during the months of April and May. This is to advance the plan to reduce carbon in electricity production according to a “greener and smarter” strategy to achieve continuous growth. And continue to provide sustainable energy to achieve the goal of net zero in the future.

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