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Strong earnings, expanding EV infrastructure and a growing digital user base reflect OR’s ongoing transformation from traditional fuel retail to integrated mobility and lifestyle services — with OR positioning itself as a scalable platform for regional partnership across Asia.

BANGKOK, THAILAND – Media OutReach Newswire – 7 April 2026 – PTT Oil and Retail Business Public Company Limited (OR), Thailand’s largest energy and lifestyle retail operator, reported 2025 EBITDA of 20,357million baht (approximately USD 645 million), a 15.2% increase year-on-year, as net profit rose 47.8% to 11,304 million baht (approximately USD 357 million) despite a 9.0% decline in total revenue. The results reflect stronger cost management and a continued shift in the company’s growth strategy toward ecosystem-led expansion across mobility, retail and digital services.

To support that expansion, OR has committed 58,000 million baht (approximately USD 1.84 billion) under a five-year investment plan running from 2026 to 2030. The plan prioritizes mobility infrastructure development, lifestyle platform enhancement, EV charging network expansion, and innovation investment — with the aim of consolidating OR’s position as an integrated mobility and consumer ecosystem operator across the region.

OR’s existing infrastructure provides a significant base from which to execute that strategy. The company’s nationwide service station network currently serves 3.9 million users per day, one of the consumer touchpoint frequencies in Thailand, with a target to reach 5 million daily users by 2030. The network integrates fuel retail, EV charging under the EV Station PluZ brand, food and beverage, health and wellness, and lifestyle services. Café Amazon, OR’s coffee chain, operates more than 4,600 outlets in Thailand and international markets, contributing to sustained consumer traffic across the network. Most recently, OR announced a joint venture with Centara to develop budget hotels at PTT Stations, targeting 70 to 80 rooms per site alongside existing amenities — a move that extends the network’s role from daily convenience into overnight hospitality.

OR is expanding EV Station PluZ further in step with its existing fuel network as electric vehicle uptake accelerates across Southeast Asia. The move reflects both the region’s shifting policy landscape and growing infrastructure demand, with OR positioning the mobility transition as a long-term growth opportunity and a gateway for partnership-driven market entry across the region.

OR’s digital platform reinforces the physical network’s reach. The blueplus+ loyalty application has accumulated 9.3 million registered members, with a target of 14 million by 2030. Beyond driving repeat visits, the platform gives OR granular visibility into consumer behavior across its entire ecosystem — enabling personalized engagement, cross-selling across business lines, and new revenue streams that a purely physical network could not unlock. With membership scale still growing, OR sees the model as a strong foundation for data-led consumer engagement as it pursues regional expansion across Asia.

OR is also in discussions regarding cross-border expansion models that would allow regional dealers, investors and operators to access its ecosystem infrastructure. OR is positioning itself to potential partners not as a conventional energy retailer but as an integrated lifestyle and mobility platform with the operational scale and digital capabilities to support localized deployment across diverse Asian markets.

“Our strategy is simple: to integrate and create synergy through a scalable and sizable model. We’ve built a profitable digital-physical ecosystem and are now seeking strategic partners to unlock growth in Asia’s fast-moving mobility and consumer sectors.,” said M.L. Peekthong Thongyai, Chief Executive Officer of PTT Oil and Retail Business Public Company Limited.

Hashtag: #OR

www.pttor.com

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About OR

PTT Oil and Retail Business Public Company Limited (OR) is a leading Thai energy and retail company with operations across 10 countries. OR operates through four core business groups: Mobility Business, providing energy solutions via PTT Station, PTT Lubricants, PTT LPG, and EV Station PluZ; Lifestyle Business, featuring Café Amazon, one of Asia’s largest coffee chains, along with convenience stores and space management; Global Business, driving international growth with over 400 PTT Stations and over 300 Café Amazon outlets; and OR Innovation Business, developing new ventures and sustainable solutions through technology and innovation.

The research, authored by Research Strategist Ager Freddy, Senior Researcher Timothy Benson, and ACES Institute President Dr. Shanggari Balakrishnan, argues that the phrase “doing the right thing” is frequently invoked in business discourse as a universal moral ideal, yet it is rarely examined through the lens of operational cost and strategic trade-offs. The study identifies that what is considered “right” varies significantly depending on the stakeholder ranging from regulatory compliance for governments and governance standards for investors to fair wages for employees and responsible resource use for environmental advocates.

The 4Cs Framework and Institutional Resilience

Central to the publication is the introduction of the 4Cs leadership framework: Creativity, Conscientiousness, Constancy, and Collaboration. According to the ACES Institute, these four pillars are essential for embedding ethical considerations directly into an organization’s product design, engineering processes, and corporate culture. The researchers suggest that by moving beyond surface-level corporate social responsibility and toward an institutionalized philosophy, companies can build a foundation for long-term differentiation and resilience.

The study acknowledges that this values-driven approach often necessitates difficult decisions that may carry significant short-term costs. Organizations pursuing deep sustainability or ethical strategies may face higher production expenses, skepticism from traditional market analysts, and resistance from consumers who express support for sustainability in theory but remain sensitive to price in practice. Furthermore, the research explores how global economic and political dynamics, such as shifting regulations and differing sustainability standards across international markets, complicate the efforts of leaders to maintain a consistent ethical stance.

Case Study Analysis: Letright Industrial Corp., Ltd.

To provide empirical evidence for these findings, the report examines the multi-decade journey of Letright Industrial Corp., Ltd., a manufacturer of premium outdoor living products. Under the leadership of founder and CEO Ren Li, the company made a pivotal decision in the early 2000s to abandon wood then the dominant material in the industry in favor of recyclable materials such as aluminum. This decision was driven by personal conviction regarding environmental impact rather than immediate market demand or regulatory requirements.

The case study illustrates the “Constancy” pillar of the ACES framework, noting that the move initially triggered significant resistance. During this period, customers continued to prefer traditional materials, employees questioned the strategic shift, and management warned of the financial consequences of declining orders. However, the research highlights that by persisting through this uncertainty, Letright successfully transitioned from an original equipment manufacturer (OEM) to an original design manufacturer (ODM). This shift allowed the company to build its own intellectual property, eventually leading to the development of the Ombra solar smart pergola, which integrates photovoltaic technology for renewable energy generation.

Executive Perspective on Global Leadership

“Organisations today operate in a landscape where expectations rarely align,” stated the authors of the study. “What appears responsible to one group may be viewed as inadequate or even harmful by another. Ultimately, ethical leadership does not mean achieving universal approval or avoiding difficult decisions. Instead, it requires organisations to define their own principles and align strategy, operations, and innovation around those values.”

The publication concludes that while “doing the right things” does not guarantee universal agreement, organizations that clearly define their values and consistently act on them are statistically more likely to build lasting relevance and resilience in an increasingly complex business environment. This research forms a key part of the ACES Institute’s ongoing mission to examine the intersection of leadership, sustainability, and responsible corporate transformation across global industries.
Hashtag: #ACESInstitute #LetrightIndustrial

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About ACES Institute

About Letright Industrial Corp., Ltd. | Ombra Brand

This marks the first time an Asia-wide environmental hackathon exclusively for undergraduate and master’s students is held in Vietnam. The competition aims to identify and develop technology-driven solutions to pressing environmental challenges, while fostering innovation and interdisciplinary collaboration among the younger generation.

Participants will advance through three main stages: Registration & Preliminary (April 6 – May 17, 2026); Online Training Phase (June 2 – June 28, 2026); and Final Round & Hackathon at VinUniversity (July 2 – July 5, 2026, tentative).

During the Registration & Preliminary Round, participants register online in teams of up to four members. Eligible applicants must be current undergraduate or master’s students at universities across Asia.

Application materials include an idea proposal and an introductory video. Based on evaluation by the Technical Board, the Top 30 teams will be selected to advance to the next stage.

The competition encourages interdisciplinary ideas that integrate multiple fields—including technology, environmental sciences, economics, and social sciences—with the aim of creating solutions that are innovative, feasible, and socially impactful.

Proposed ideas should address one of three key challenge areas: Renewable Energy and Low-Carbon Mobility; Urban Air Quality and Climate Resilience; Water Resources and Climate-Resilient Agriculture.

During the Online Training Round, the Top 30 teams will participate in a series of intensive training sessions and expert consultations with multidisciplinary specialists. These sessions are designed to equip teams with deeper domain knowledge and up-to-date insights on sustainability trends and relevant technologies, enabling them to further refine and expand their proposed solutions.

During the Final Round and Award Ceremony, all travel and accommodation expenses for the Top 30 teams will be fully covered. The teams will take part in a 24-hour hackathon at VinUniversity (Hanoi), where they will further develop and refine their technology-driven solutions before presenting them to the Judging Panel. Based on this evaluation, the Top 9 teams will be selected to advance to the final assessment round, from which the winning team will be determined.

The Chair of the Judging Panel is Prof. Duong Nguyen Vu, Vice Provost of Graduate Education at VinUniversity and Chief Scientific Officer at the Center for AI Research. He had been a Professor of Aerospace Engineering at Nanyang Technological University (NTU), Singapore until July 2025, where he served as Scientific Director at the Air Traffic Management Research Institute (ATMRI). Under his leadership—as Executive Director until 2025—the institute has emerged as a global leader in air traffic management research, thanks in large part to the scientific foundation he helped establish. Before joining NTU, Prof. Vu was the founding Director of the John von Neumann Institute at Vietnam National University Ho Chi Minh City, spearheading university-industry collaborations and championing innovation and entrepreneurship in education.

Prior to returning to Vietnam in 2010, he was Head of Innovative Research and Senior Scientific Advisor at the European Organisation for the Safety of Air Navigation (EUROCONTROL). He also advised Vietnam’s Minister of Planning and Investment on innovation strategy, contributing to the establishment of the National Innovation Center.

The competition offers a total prize pool of USD 24,000, comprising one First Prize of USD 8,000, one Second Prize of USD 5,000, two Third Prizes of USD 3,000 each, and five Consolation Prizes of USD 1,000 each. Beyond the awards, participating teams will gain valuable opportunities to engage with leading experts from across the region, expand their professional networks, and strengthen their access to the broader innovation ecosystem.

Dr. Le Thai Ha, Managing Director of the “For Green Future” Foundation and Head of the Organizing Committee, shared: “We believe that ideas with the power to shape the future do not always emerge from large laboratories or well-established institutions; they often arise from the insight, initiative, and determination of young people to make a difference. Through the Asian Hackathon for Green Future, we seek to create a platform where students across the region can transform their environmental awareness into tangible, innovative solutions that deliver meaningful impact for communities and the future.”

The Asian Hackathon for Green Future is expected to foster innovation aligned with sustainable development, while contributing to the development of a new generation of young talents capable of cross-border collaboration to create solutions with lasting, positive impact across the region.

Interested candidates may register for the competition via: https://forms.gle/o3L5BVLExUYKQtGJA

For any inquiries, please contact the Organizing Committee at [email protected] for further assistance.
Hashtag: #ForGreenFutureFund

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Dentsu has appointed Yusuke Kagohara as chief financial officer for Southeast Asia, handing him a mandate that goes beyond traditional finance oversight as the advertising and marketing group tightens governance and prepares for a more disciplined phase of expansion across one of Asia’s most competitive markets. The appointment took effect immediately, and Kagohara will report to Sanjay Bhasin, chief executive for Southeast Asia.

The move lands at a sensitive point for global agency networks. Growth remains available across Southeast Asia, but margins, client expectations and regulatory scrutiny are all sharpening. Dentsu’s own framing makes clear that this is not merely a replacement hire. Company statements and industry reports describe the post as part of a wider effort to deepen strategic and financial discipline and strengthen governance across the regional cluster, which covers Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. The business employs more than 4,000 people in the region under what Dentsu describes as a borderless operating model formed in 2023.

Kagohara arrives with a profile that fits that brief. Before this appointment, he served as group head of risks and controls at Dentsu Group Inc., where he worked on internal controls, enterprise risk management and broader governance and remediation efforts. Earlier assignments included chief financial officer and deputy chief financial officer roles in Beijing and at Dentsu Creative China, experience that gave him exposure to large and complex operating environments in Asia. Industry coverage of the appointment has also highlighted his background in corporate strategy, transformation and all-round finance, suggesting the company wanted someone comfortable with both compliance architecture and commercial execution.

That background matters because agency finance chiefs are no longer judged only on forecasting, cost control and reporting. They are increasingly central to how networks integrate acquisitions, police internal controls, price AI-enabled services and defend profitability while clients demand more measurable returns. Dentsu has been signalling this shift at group level for months. Its global management overhaul announced in February was pitched around stronger execution, while its 2025 integrated report and governance materials emphasised capital discipline, internal investment, productivity and the strengthening of leadership and controls.

Southeast Asia gives that challenge extra complexity. The cluster spans fast-growing but highly uneven markets, each with different media structures, regulatory standards, client mixes and digital maturity. Dentsu has described the region as one of the world’s fastest-growing, and its own ad spend outlook has projected Asia Pacific growth ahead of the wider global economy. In December, the company forecast that global advertising spend would rise 5.1 per cent in 2026 to more than $1 trillion, with Asia Pacific remaining the fastest-growing region. For a network trying to convert that momentum into durable earnings, stronger financial control becomes a strategic tool rather than a back-office function.

Bhasin’s comments underline that point. In remarks carried by multiple reports and company-linked posts, he said growth on its own was not enough and that the business needed expansion that was “accountable, resilient, and built to last”. He described Kagohara’s experience in governance, transformation and complex markets as critical to the next stage of Southeast Asia’s development. Kagohara, for his part, said the region stood out for its scale, complexity and ambition, adding that strong fundamentals were universal even when market conditions varied widely. Those comments indicate a leadership view that the next test for Dentsu is not whether Southeast Asia can grow, but whether it can do so with tighter controls and greater consistency across markets.

The timing also follows a change in the seat Kagohara is filling. Trade reports late last month said Bharti Agrawal, who had served as CFO for Southeast Asia at Dentsu, had moved to Monks as chief financial officer for APAC marketing services. That succession gives the new appointment a sharper operational significance, because it suggests Dentsu moved quickly to avoid drift in a role that sits at the centre of planning, compliance and regional coordination.