PM Group’s associate company
Thoresen Thai Agencies Public Company Limited (“TTA”) is a strategic investment holding company with three primary business groups –
Energy, Infrastructure and
Transport. TTA and its subsidiaries have been providing shipping-related services since 1904, dry-bulk shipping services since 1985 and offshore oil and gas services since 1995. In 2009, TTA added fertilizer production, coal mining, and end-to-end coal logistics to its business portfolio.
TTA’s evolution from a dry bulk shipping operator began in 2005 with an investment in subsea engineering firm Mermaid Maritime Public Company Limited, which has since been listed on the Singapore Stock Exchange (MMT:SP). Since then, TTA has acquired interests in fertiliser and logistics (Baconco Co., Ltd.) coal-related businesses (SKI Energy Resources Inc, Merton Group (Cyprus) Limited and Unique Mining Services Public Company Limited), petroleum tankers (Petrolift Inc.) and a deep-water seaport Baria Serece Port in Southern Vietnam. Please click HERE to view a detailed chart showing the business structure of TTA.
TTA Group has been providing subsea services since 1995 and offshore drilling services since 2006. In 2009, TTA made an indirect investment in a green-field coal mining project in the Philippines and subsequently increased its stake in 2011 by also investing directly into the coal mining company itself. Also in 2011, TTA invested in another coal mining project in Indonesia. These coal mining investments clearly indicate the Group’s strategic intent to increase its exposure to energy businesses with high future growth potential.
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