PTT set to spin off life science unit Innobic

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National oil and gas conglomerate PTT Plc is likely to spin off its life science subsidiary Innobic (Asia), enabling the firm to be more financially independent as it seeks to make significant changes to its diversified businesses.

PTT, through its wholly-owned Arun Plus, co-established a joint venture with Taiwan-based Hon Hai Precision Industry Co, a multinational electronics manufacturer known globally as Foxconn, to develop an EV assembly plant in Thailand.

The spinoff will enable Innobic to stand on its own feet," said Kongkrapan Intarajang, chief executive and president of PTT.

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Article Details

Category: EconomyBusiness

Markets: ThailandTaiwan

Topics: Company Partners Plan Strengthen Kongkrapan Changes Business Help Businesses Innobic Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 05:36:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 377 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Bangkok Post

News ID: 23709052

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