JustCommodity Announces First Customer in Thailand
JustCommodity has announced that PTT Public Company Limited, through its fully owned subsidiary PTT Green Energy Pte., Ltd. (PTTGE) , has selected ContraXcentral™ to manage its trading and risk operations.
“More and more commodity trading companies are beginning to recognize the value that we can add to their business operations,” said JustCommodity’s Managing Director, Joel Lou, “We are pleased that PTT Green Energy has selected JustCommodity to manage their trades and we look forward to greater developments in Thailand and the Asia Pacific in the coming months.”
PTT Plc., the largest Oil and Gas corporation from Thailand and ranked 155th by Fortune magazine in 2010, initiated a plan to expand its business line to oil palm plantation through PTTGE, aiming to prepare itself for national energy sustainability and to provide feedstock through its value chain for the biofuels and oleochemical industries. PTTGE, an owner of 200 kHa landbank in Indonesia in 2010, has identified JustCommodity to provide solutions to better manage its demand and supply resources, operations as well as price and counter party credit risks.
