Strategic finance leader with a conscience

When Kongkrapan Intarajang walked into the top office of PTT Plc in April 2024, Thailand's national energy giant was bracing for turbulence.

- KONGKRAPAN INTARAJANG

Oil prices were softening, petrochemical markets were losing steam and global economic uncertainty loomed large.

Within weeks of his appointment as chief executive and president, Mr Kongkrapan made it clear: survival would depend not on chasing growth, but on protecting the company's financial backbone.

A chemical engineer by training and a financial strategist by instinct, Mr Kongkrapan wasted no time reshaping PTT's empire.

He ordered a sweeping portfolio review, cutting loose businesses and projects that looked destined to bleed cash.

Nonperforming assets were divested, capital-heavy ventures trimmed and the company's focus sharpened on what mattered most — liquidity, cash generation and capital efficiency.

His "finance-first" strategy marked a decisive shift. Instead of rapid expansion, PTT would prioritise sustainable cash flow.

Cost control became rigorous, investments selective and partnerships carefully structured to share risks while boosting returns.

The results soon spoke for themselves: in the first half of 2025, PTT posted a net profit of more than 44 billion baht, with healthy earnings before interest, taxes, depreciation and amortisation (Ebitda), despite subdued energy prices.

Mr Kongkrapan's targets are ambitious. Over 2025-2026, PTT aims to generate more than 100 billion baht in cash through efficiency programmes, asset monetisation and operational savings. A key objective is enhancing Ebitda by 20 billion baht in 2025, driven by tighter cost management, marketing synergies and digital efficiency initiatives.

The restructuring has touched every corner of the company. Non-core assets are being divested, while strategic partners are invited into petrochemical and refining ventures to reduce capital exposure without surrendering control.