PTT Oil and Retail Business Plc’s (OR) unit Modulus Venture Co Ltd will form a 50-50 joint venture with Boon Rawd Brewery’s subsidiary Boonrawd Trading Co Ltd to make and distibute RTD beverages. The new joint venture is expected to complete its registration by the third quarter of 2022.
OR operates 3,685 CafƩ Amazon outlets in Thailand as part of its non-oil businesses at the end of Q1, 2022.
OR said its bakery plant and dry-mix powder plant have been operating since the end of 2021. The company aims to increase revenue proportion of non-beverage from 9.0% in Q1, 2022 to 15.0% in 2026.
