Advanced Set to Dethrone PTT as Largest Thai Firm on Oil Slump
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Thailand’s Advanced Info Service Pcl is poised to end PTT Pcl’s 12-year reign as the country’s biggest company by market value.
Advanced Info, controlled by Temasek Holdings Pte of Singapore, was worth 681 billion baht ($19 billion) at Tuesday’s close, 5 percent less than the state-controlled oil and gas company. That’s approaching the narrowest gap between the two since 2003. PTT shares have plunged 23 percent this month as oil prices tumbled.