PTT OR Reassesses Cambodia Operations Amid Rising Border Tensions
Border clashes have triggered nationalist boycotts in Cambodia, prompting PTT Oil and Retail Business to review its strategy despite limited exposure.
PTT Oil and Retail Business Public Company Limited (PTT OR) is reviewing its business plan in Cambodia following recent border tensions and accompanying civil unrest that have significantly affected its retail operations in the country.
A surge in nationalism has led to a consumer boycott of Thai-origin brands, including PTT petrol stations and Café Amazon outlets.
A senior executive vice president for finance confirmed that, despite these developments, the company posted strong overall performance in the first half of the year.
The border disruption, which lasted for approximately ten days in the second quarter, had only a limited impact on operations within Thailand.
In Cambodia, the rise in nationalist sentiment has driven a sharp decline in sales.
Some local franchisees have inquired about rebranding under a local name to navigate the boycott, though the number remains small.
While rebranding is permitted if contractual terms allow, any changes that breach agreements would incur penalties.
PTT OR anticipates that business performance in Cambodia will weaken in the second half of the year, particularly in the third quarter, due to the drop in sales.
However, the overall financial impact on the company is expected to be marginal, as Cambodian operations account for only 3–5 percent of total earnings.
The company continues normal operations in Thai border provinces, exercising heightened precautions and offering support to local dealers while monitoring developments and awaiting a return to stability.
In Cambodia, additional developments include the discontinuation of Thai fuel imports following government-imposed bans, prompting PTT OR to manage existing fuel stocks at its outlets.
Despite these restrictions, the company has maintained operations, with plans to sell through remaining inventory.
Widespread social media campaigns promoting slogans such as “Khmer Loves Khmer” have intensified the boycott against Thai firms.
Several PTT fuel stations have obscured or removed branding, and customer numbers at affected locations have fallen from roughly 500 to about a dozen per day according to local staff.
Broader regional tensions—marked by military skirmishes, displacement, and diplomatic friction—have heightened risk perceptions among investors.
This has weighed on several industries, including energy, tourism, and retail.
A surge in nationalism has led to a consumer boycott of Thai-origin brands, including PTT petrol stations and Café Amazon outlets.
A senior executive vice president for finance confirmed that, despite these developments, the company posted strong overall performance in the first half of the year.
The border disruption, which lasted for approximately ten days in the second quarter, had only a limited impact on operations within Thailand.
In Cambodia, the rise in nationalist sentiment has driven a sharp decline in sales.
Some local franchisees have inquired about rebranding under a local name to navigate the boycott, though the number remains small.
While rebranding is permitted if contractual terms allow, any changes that breach agreements would incur penalties.
PTT OR anticipates that business performance in Cambodia will weaken in the second half of the year, particularly in the third quarter, due to the drop in sales.
However, the overall financial impact on the company is expected to be marginal, as Cambodian operations account for only 3–5 percent of total earnings.
The company continues normal operations in Thai border provinces, exercising heightened precautions and offering support to local dealers while monitoring developments and awaiting a return to stability.
In Cambodia, additional developments include the discontinuation of Thai fuel imports following government-imposed bans, prompting PTT OR to manage existing fuel stocks at its outlets.
Despite these restrictions, the company has maintained operations, with plans to sell through remaining inventory.
Widespread social media campaigns promoting slogans such as “Khmer Loves Khmer” have intensified the boycott against Thai firms.
Several PTT fuel stations have obscured or removed branding, and customer numbers at affected locations have fallen from roughly 500 to about a dozen per day according to local staff.
Broader regional tensions—marked by military skirmishes, displacement, and diplomatic friction—have heightened risk perceptions among investors.
This has weighed on several industries, including energy, tourism, and retail.
