July 11--Oil and gas giant PTT Plc, the largest listed company on the Stock Exchange of Thailand in terms of market capitalisation, has slipped to 84th place on the 2014 Fortune 500 ranking from 81st last year, but management insisted the group has been resilient during political and economic uncertainties.
President and chief executive Pailin Chuchottaworn said PTT has been stable despite the political turmoil and poor economic outlook.
PTT is the only Thai company listed in Fortune magazine's Fortune 500 ranking. The group broke onto the list in 2004 in 456th place.
Despite the lower ranking, PTT's estimated total revenue for this year improved to US$92.6 billion, up from $89.9 billion earned in 2013. Last year, it moved up 14 places from 95th place.
The ranking is based on operational performance and opinion surveys of analysts and leading businessmen.
"PTT's resilience is due to our good management as a national oil company, as we have improved in the rankings most of the past few years," said Mr Pailin.
Shares of PTT closed yesterday on the Stock Exchange of Thailand at 326 baht, up four baht, in trade worth 1.59 billion baht.
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