PTIT FOCUS SPECIAL ANNUAL ISSUE

PTIT FOCUS SPECIAL ANNUAL ISSUE in an easy-to-read format, is a comprehensive compendium of the year's events with in-depth analyses of the petroleum,petrochemical, and energy related businesses. It also includes the all important policy and regulatory review, and of course the much needed market statistics for marketing and investment planning. Significant events that have changed or may influence the business arethe "must" of the special issue, while the statistics section provides the year's market and industry trends, which are relied upon by those who count in the business.


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PTIT FOCUS Specical Annual Issue 2009 - "Managing Transition"

The year 2009 demonstrates how globalization could impact world economy. The real estate (housing) bubble in the US, which collapsed during
the second half of 2008, sent global financial network to the brink of total disintegration. Threat of world-wide recession loomed over every
economic entities throughout the year. However, the concerted efforts by governments in various countries in running never-before massive injection
of fiscal spending had the desired priming effect, not only in preventing a deep and prolonged recession. Economic activities in several countries
had actually picked-up speed in the fourth quarter, with many showing positive GDP growth. The Chinese government had to decide to put a brake
to its economic engine to prevent its economy from overheating in 2010. We could say that the year 2009 tested our economic system in
managing transition.

Thailand is no different than the rest of the world in managing the transition. Actually, the challenges it as faced are more complicated than what other countries have encountered. In addition to strong external impacts, Thailand has had to deal with disturbing internal issues. The economic recession,
the Map Ta Put impasse and the political turmoil have been identified as the challenges for the country in 2009.

There is no doubt that the Thai government has tried every which way it could to solve the pressing problems but there have been no perfect resolutions to all these difficult obstacles as yet.

How soon Thailand can overcome these hurdles is still questionable. The MTP impasse, in particular, has sent confusing, far-reaching signals through
the petroleum, petrochemical and other sectors of the industry, and led to misunderstanding among investors. Although it can be foreseen that these problems cannot be solved instantly, Thailand will go through the transition and eventually survive these barriers. What Thailand should do under this
circumstance is to act quickly to get out of the chaos as soon as possible. It is only then that Thailand will be able to re-emerge in the world stage
stronger than before.


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